No negative balances in savings accounts: RBI - The Economic Times

According to the RBI, if any bank continues to debit charges on a savings account creating a negative balance, customers can approach the banking ombudsman.

Negative balances in savings accounts due to penalty charges are now history following a directive from the central bank. The RBI has as

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CA Bhagyashree Thakkar • Finance, Don't pay this penalty to the bank ‼️ ✓ According to RBI, banks cannot make negative balance in savings account due to penalty for

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Your savings account will no longer have a negative balance: Report