Once again RBI has charged the scene of Indian banking system and taken a remarkable step which allow minor age above 10 years can operate saving bank account independently
RBI has issued this guideline to all bank which state that a minor above age 10 year can be allowed to avail the facility of saving bank account independently.A minor can have facility like ATM,Debit card and net banking facility also but no overdraft is allowed

RBI has released a notification dated 06.05.2014 in which all banks were directed not to levy penal charges on non maintenance of minimum balance in inoperative accounts .This regulation will be helpful to customer who his having  multiple accounts and not able to operate /maintain minimum balance in each account.
Under this guideline RBI not charge customer for non maintenance of minimum balance rather has asked bank to limit service available to customer if he is not able to maintain minimum balance.Bank should restrict the service to Basic Saving account and restore the service when the balance improve.

Reserve Bank of India on Friday commercial banks on savings accounts and term deposits of less than three months time period is given the option to pay interest . This means that the bank will be paying interest each month .
Currently If the three-month interest is Rs 300 then for one month bank used to pay less than Rs 100 for a month .Bank used to deduct some interest in name of early payment. But now owe them a full 100 .
This may create Economic pressure on banks to pay interest every month, but the advantage would be that they will be able to attract more deposits.

In wake of easy and better customer facility now its time for BANK of INDIA which is provides miss call based SAVING bank account balance enquiry.


Now Bank of India customer can get account balance from saving account using miss call.Customer can give miss call on 02233598548  from their registered mobile number.Disconnect the call after rings . Savings account balance will be sent as SMS

Now Punjab national bank customer can get account balance from saving account using miss call.Customer can give miss call on  1800 180 2222 or 0120-2490000 from their registered mobile number.Disconnect the call within three rings so as to prevent from connecting to Customer care. Savings account balance will be sent as SMS