Leading private sector lender HDFC Bank has introduced some new penalties that it will levy on its customers. A few other banks have also taken similar steps in order to maintain their share of profit.
The bank will now levy charges from the customers if the account is non-operational or in case of the amount of deposited cash is over Rs. 1 lakh.
In a notification to the customers, the banks said, "The bank will levy a charge of Rs 50 on inoperative account. This charge is applicable across savings and current account on per quarter basis."
There are several other charges that the bank has announced to levy from the customers.