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Minimum balance limit: Many times, the balance in the bank account is very low or it becomes zero. There is a rule from the banks that the account should not be zero, it must have the amount of money that has been fixed for the minimum balance limit.

Now RBI (Reserve Bank of India) has made new rules regarding minimum balance in the account. These rules will benefit crores of bank account holders. If you also have an account in the bank, then you know the rules of RBI regarding minimum balance (Bank Account Zero Balance).

Banks cannot charge -

If there is no minimum balance in the account, then the bank cannot charge or impose a penalty on it (penalty for not maintaining the minimum balance), nor does the bank have this right. If there is no minimum balance in the bank account, then a fine can be deducted from the amount that is present. In such a situation, the account can be made zero but cannot be put in a minus (minus balance).

If the balance shows in minus, then the customer should ignore it because the bank (bank news) cannot collect this amount. Banks cannot tell any customer that the minus balance that is showing has to be paid.

Account can be closed for free-

According to RBI rules (RBI new rules for minimum balance), if you are closing your account and the balance in the account is showing in the amount, then the bank cannot collect this amount. Nor can any charge be taken on this. RBI has also issued guidelines (RBI guidelines for minimum balance) to the banks regarding this. However, according to RBI, the balance in the account cannot be made in minus.

Complain here about the arbitrariness of banks-
If you go to the bank (bank rules for minimum balance) to close the account and any bank or bank employee asks you to give the minus balance, then you can also complain about this. You can do this by visiting RBI's helpline number or official website bankingombudsman.rbi.org.in.

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