State Bank of India waives levy on minimum balance.

      State Bank of India (SBI) has announced waiver of service charge for non-maintenance of minimum balance stipulations with respect to savings accounts.

      A circular addressed to Chief General Managers of all circles dated February 14 said that the waiver is being looked upon as a ‘major step forward towards customer retention and acquisition.'

CBS TO TAKE CARE You will appreciate that this benefit/waiver is a strong selling point for our savings bank product.