Post Office Cuts Penalty to Rs50 for Non-Maintenance of Minimum Balance in Savings Account
0 In a small relief to the common man in a covid-struck difficult year, the penalty for non-maintenance of the minimum balance in a post office savings account has been reduced by half. As per a notification issued by the Ministry of Finance, the fee levied for non-maintenance of minimum balance in the post office savings account has been reduced to Rs50 (inclusive of GST) from Rs100 at present. This was done as part of the amendments to the Post Office Savings Account Scheme 2019 rules. According to the post office savings account rules, currently an account holder is required to main...