The State Bank of India (SBI) has slashed the penalty charges for non-maintenance of Average Monthly Balance (AMB) in savings accounts. The charges for customers in metro and urban centres have been cut from a maximum of Rs 50 to Rs 15 per month, plus GST. Meanwhile, the charges for semi-urban and rural centres have been slashed from Rs 40 to Rs 12 and Rs 10 per month respectively, plus GST. The revised charges will be effective from April 1.
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