State-run Punjab National Bank (PNB) charged Rs 633 crores in financial year 2023-2024 from customers as penalty for non-maintenance of minimum balance in savings accounts, according to data submitted by the Government in Parliament on July 29.
This is the highest penalty among all state-run banks. In the previous financial year, the bank had charged Rs439 crores and Rs 86 crores in the year before. The second highest penalty amount in FY24 is charged by Bank of Baroda (BoB). BoB charged Rs 386.5 crores in FY24 compared with Rs 333 crores in the year before.
Similarly Indian bank charged Rs 369 crores compared with Rs 296 crores in the previous year, according to the data. Penalties charged by other banks in FY24 are Bank of India (Rs194 crore), Bank of Maharashtra (Rs126 crores), Canara Bank (Rs284 crores), Central Bank of India ( Rs128 crores), among others.