Bank union demands withdrawal of fines

T’puram: State Bank of Travancore employees’ union has urged the SBI to withdraw its decision to levy penalty on non-maintenance of minimum balance and to impose transaction charges on cash deposits and withdrawals and ATM usage over specified limits. The union adopted a resolution during the special general body meeting held here on Sunday. The resolution said that the SBI had announced penalties ranging from Rs 20 to Rs 100 on non-maintenance of minimum balance in savings bank accounts from April 1 and it was as high as Rs 500 in case of current accounts.TNN