Public sector lender Punjab Nationwide Financial institution has stated it earned over Rs 645 crore by levying ATM transaction expenses on clients through the monetary yr 2021-22.
Income earned by PNB from ATM transaction expenses stood at Rs 645.67 crore in monetary yr 2021-22, the financial institution stated in response to an utility searching for data beneath the Proper to Data (RTI) Act.
Apart from, the nation’s second largest lender collected Rs 239.09 crore within the type of penalty imposed on clients who failed to take care of minimal stability or quarterly/month-to-month common stability of their financial institution accounts, based on the financial institution’s response to Madhya Pradesh-based RTI applicant Chandrashekhar Gaur.
In 2020-21, the financial institution had earned Rs 170 crore by levying expenses on clients for not sustaining minimal stability of their accounts.
This quantity was collected from 8,518,953 accounts throughout FY22. To a question on the variety of zero stability accounts with the financial institution, PNB (Punjab Nationwide Financial institution) stated there have been a complete of 67,637,918 such accounts as of March 31, 2022.
Going by the development for the final 4 monetary years from 2018-19 to 2021-22, it was revealed that the zero stability accounts in PNB have gone up steadily over these years.
As of March 31, 2019, there have been 28,203,379 zero stability accounts at PNB, which elevated to 30,583,184 by the top of March 2020 and additional to 59,496,731 as of March 31, 2021.
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