Banks collected Rs 7,100 crore as ‘minimum balance’ penalty in 2025-26

Banks collected nearly Rs 7,100 crore in minimum balance penalties during FY26. Private banks gathered Rs 4,948 crore, a significant increase from the previous year. HDFC Bank alone levied Rs 1,800 crore in charges from its customers. Ten public sector banks have discontinued these penal charges on savings accounts. Overall, banks notified customers before applying these charges to accounts.