A year ago, the State Bank of India made a big change in the rules for keeping a minimum balance in a savings account. As a result, low and middle income people had to face terrible problems. This time the post office (india post) also made a big change in keeping the minimum balance by walking that path. Although this rule has been announced before, it will be implemented from today
It is possible to open a savings account at a post office like a bank and deposit money there Like banks, there are multiple facilities including check books and ATMs. Many lower and middle class people of the country deposit money at the post office. One of the reasons they kept money at the post office was that the minimum balance they had to keep at the post office for so long was small. But this time a big change was made in that rule.
From now on, in case of keeping money at the post office, the minimum balance must be 500 rupees. If you do not have 500 rupees at the end of the financial year, the post office will deduct the money as maintenance. As well as after deducting that money if your balance becomes zero (00). However, that account will be closed.
Many have lost their jobs due to the epidemic situation As a result, these marginalized people can run into big problems when it comes to maintaining a minimum balance When it comes to keeping money at the post office, a large portion of the population is low-income As a result, many accounts are expected to be closed.