---The following information may be useful to you, which is a guideline by RBI:
614/2008-2009 What are the new guidelines on maintaining minimum balance in savings accounts?
"Reserve Bank of India has not stipulated any minimum balance to be maintained in savings accounts. Reserve Bank of India has also not stipulated levy of any service charge, if the minimum balance is not maintained in such accounts, and what is the to minimum balance should also be intimated to the account holders the legal basis of doing this by the by banks at least one month in advance."
You may look into the attachment Min balance etc RBI 773531
It shall be good if you raise RTI application to RBI and obtain copies of all guidelines pertaining to minimum balance in SB a/c.
---The SCDRC decisions which we could find are not in favor.
The favorable decisions may kindly be attached for the benefit of one and all.
e.g.
The issue for consideration is whether there is deficiency in service by the bank in levying increased ledger folio charges and increase in minimum balance limit and deducting the same from the respondent without giving him notice. It was held that the increase in minimum balance amount in current account and increase in ledger folio charges brought in operation by bank pursuant to the Reserve Bank of India directions and general policy could not be held deficiency in service on the service hired by complainant. Col. D.S.Sachar Vs. Zonal Manager, Punjab & Sind Bank, Cahndigarh & anr- 2003 (3) CPR 203 SCDRC (Chandigarh)
---The decision in case of Archana.M .Kamath is attached.
