Home / Industry / Banking /  This public sector bank's zero balance accounts rise by over 139% in four years
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State-owned bank Punjab National Bank (PNB) has said the bank recorded a total of 67,637,918 zero-balance accounts as of March 31, 2022. In response to an application seeking information under the Right to Information (RTI) Act, the bank said it witnessed a rise in zero-balance accounts in the past four years.

The PNB said it had 28,203,379 zero balance accounts as of March 31, 2019, which increased to 30,583,184 by the end of March 2020 and further to 59,496,731 as of March 31, 2021, the bank responded to Madhya Pradesh-based RTI applicant Chandrashekhar Gaur.

Further, PNB said it earned over 645.67 crore by levying ATM transaction charges on customers during the financial year 2021-22. The public sector lender collected 239.09 crore in the form of a penalty imposed on customers who failed to maintain a minimum balance or quarterly/monthly average balance in their bank accounts.

The amount was collected from 8,518,953 accounts in the previous fiscal year, PNB responded to the RTI applicant.

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