Business News / What penalty will have to be paid if there is not even a single rupee in the account? Know what the RBI rules say

Vikrant Shekhawat : Dec 21, 2023, 09:15 AM
Business News: Many times banks deduct money from our account without any reason, then the account goes into minus. The customer is left with no option other than closing the account. But even when you go for account closing, the bank officials do not close your account and say that your account can be closed after clearing the minus amount. If you are also facing the same problem then let us tell you the solution to this problem.

what is happening nowadays?

Nowadays everyone gives preference to savings bank account. While opening a savings account, the bank tells its customers the terms and conditions that after opening the bank account, they will have to maintain a minimum balance in the account. The minimum balance limit is also decided by the bank itself. If the customer does not have the minimum balance in his account, then a penalty is charged instead.

What does RBI rule say?

According to RBI rules, the bank cannot deduct money from the customer's account even if there is no minimum balance. At the same time, the bank cannot make the customer's account negative by making deduction in the name of penalty. Still, if any bank does this then the customer can go to RBI and complain about the bank. Let us tell you that on the basis of your complaint, RBI will take action against that bank. If you want, you can also lodge a complaint by visiting the official website of RBI. Nowadays, when this happens, one gets a solution even by complaining to that bank. Many times the banks return the amount later. You just have to talk to their customer care and tell them your problem.

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