Due to a lapse of customers, State Bank of India (SBI) has earned Rs 38.88 crore in the last 40 months. This amount has been deducted from the accounts of the account holders because the bank did not get the signature of the check only. Earlier, in the Finance Ministry data in January, it was reported that SBI had recovered 1771 crore rupees from the customers who did not have minimum balance till April to November 2017.
State Bank of India has returned 24 lakh 71 thousand 544 lakh checks in the past 40 months due to non-matching checks. In response to an RTI, the bank believed that if there is any check return, the bank charges 150 rupees and also imposes GST on it. That is, the account holder has to suffer the loss of every check of Rs 157.
Note:
- Chairperson of State Bank of India: Rajnish Kumar
- Headquarters of SBI: Mumbai
- State Bank of India Founded: 1 July 1955
- Subsidiaries: SBI Cards, SBI Life Insurance Company etc…
Published On : 11 Jun 2018