Charge on savings accounts unacceptable: Pinarayi Vijayan

THIRUVANANTHAPURAM: Chief Minister Pinarayi Vijayan said bank’s decision to charge customers for non-maintenance of average minimum balance in their savings accounts is unacceptable. Taking a serious note of it, the government sought an explanation from the State Level Bankers’ Committee.

 “The Committee informed us that there were two types of savings bank accounts - those with minimum balance and those without one - and the customers has the freedom to choose between them appropriately,” said the Chief Minister while replying to a submission moved by P T Thomas MLA in the Assembly. 

Referring to the alleged overcharging levied by State Bank of India for various services, Pinarayi said the state government had demanded the Ministry of Finance to take appropriate actions.  He also added that the state government will approach the Centre for intervening in the issue of minimum balance.