Tag Archives: 2017-2018

SBI likely to move from a system of average monthly balance to an average quarterly balance

The State Bank of India (SBI) is likely to make changes to its rules for maintaining minimum balance in savings accounts and slash the penalties for going under the limit, officials familiar with the matter said on Thursday.

The officials said that the country’s largest lender is likely to move from a system of average monthly balance to an average quarterly balance.

“The charges for non-maintenance of minimum balance will be reduced by two-thirds of the current penalty,” said an official, who asked not to be named.

Currently, the monthly average balance (MAB) for SBI savings accounts in urban and metro centres is ₹3,000, in semi urban centres ₹2000, and ₹1,000 in rural centres.

The monthly penalty for nonadherence is between ₹30 and ₹50 in urban and metro centres, and ₹20 to ₹40 in semi-urban and rural areas.

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Jaypee will deliver 5,114 flats in Noida by June

The Jaypee Group said on Thursday that it is likely to ready 5,114 flats by March 2018. However, the flats will be delivered only in June after completion of all formalities.

Jaypee Infratech and Jai prakash Associates Limited (JAL) have released the delivery schedule to pacify agitated home buyers, who had filed a petition in the Supreme Court.

The flats are in towers such as

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