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Indian Bank has announced complete waiver of minimum balance charges across all savings bank accounts effective July 7. Effective July 1, Punjab National Bank, too, has decided to... In a significant move aimed at enhancing financial inclusion and easing banking norms, Indian Bank and Punjab National Bank (PNB) have announced the waiver of minimum balance penalties for savings account holders. A graphic in the post reads, “Your money, your rules. No minimum balance, no penalty. 0% effective July 7, 2025.” “Public Announcement: In an important customer-focused initiative we are happy to announce complete waiver of minimum balance charges across all our savings bank accounts, effective July 7, 2025,” the bank wrote. Several major Indian banks, including PNB, Bank of Baroda, Indian Bank, Bank of India and Canara Bank, have eliminated the requirement to maintain an Average Monthly Balance (AMB) in many or all savings accounts.
