“Negative balances aren’t just unfair they’re against RBI’s mandate.”
The Issuel: Imagine keeping ₹10,000 in your account and waking up to see it reduced to -₹500. That’s what some banks still do by charging harsh minimum balance penalties, despite RBI’s clear rule that such deductions must not push accounts into negative balance.
Why This Matters: Direct Financial Loss: Penalties eat into your savings. Credit Risk: Negative balances can affect credit history.
Mental Stress: Unexpected charges add financial anxiety.
✅ Action Points for Investors
- Track balances like you track your mobile battery.
- Dispute unfair charges escalate to the Banking Ombudsman if needed.
- Choose smarter PSU banks and some private banks have scrapped such practices.
Key Takeaways
Small leaks sink big ships staying alert protects both wealth and peace of mind.
