New Delhi, March 13: The State Bank of India (SBI) on Tuesday announced a decrease in the penalty it charges for non-maintenance of average minimum balance in savings bank account. Also Read - SBI Changes ATM Withdrawal Rules; What Are New Transaction Limits, Charges? Know Here

In a move that will benefit 25 crore customers of the bank, SBI reduced charges for non-maintenance of average minimum balance by upto 75 per cent. Also Read - Recruitment Alert! SBI Looking to Hire 2000 Junior, Mid-level Executives? All You Need to Know

Charges for non-maintenance of average minimum balance in Metro and Urban centres are reduced from maximum of Rs 50 per month plus Goods and Services Tax to Rs 15 per month. For Semi-urban and Rural centres, charges are reduced from Rs. 40 per month plus GST to Rs 12 and Rs 10 per month. Also Read - No Free Transactions in ATM From July 1? Check Out New Rules