Bank of Baroda - Non Adherence to RBI Rules and Guidelines for Levy of Minimum Balance Charges

We would like to update you on our below issue with Bank of Baroda, Fatashil Ambari Branch where they have failed to carry our due Adherence to Procedural Guidelines and Circulars of RBI in levying Minimum Balance Charges as they are not able to provide any proof, data or records in regards to the same.

I request concerned authorities to conduct an Full Audit whether the said Bank of Baroda followed all the RBI Rules and Guidelines while conducting all the day to day activities and make appropriate actions if the bank branch is found guilty of non compliance of any Rbi Guidelines.

Moreover in my case the said bank is unable to show me any proof, data, records which have been followed while charging Minimum Balance Charges in my account. Please conduct Full Audit for the Minimum Balance Charges levied and all other charges levied to all the customers of the said branch whether the said branch is following all the RBI Rules, Guidelines and all other necessary compliance while performing all the day to day operations.

The below were my queries with the said Bank Branch which they failed to provide.

*. (i) In the event of a default in maintenance of minimum balance/average minimum balance as agreed to between the bank and customer, the bank should notify the customer clearly by SMS/ email/ letter etc. that in the event of the minimum balance not being restored in the account within a month from the date of notice, penal charges will be applicable.

Query: - Provide us necessary proofs of notification given to me clearly by SMS/EMAIL/Letter.

*. (ii) In case the minimum balance is not restored within a reasonable period, which shall not be less than one month from the date of notice of shortfall, penal charges may be recovered under intimation to the account holder.

Query: - Provide us proofs of intimation of information regarding charges levied due to Minimum balance not maintained by SMS/Email/Letter etc.

*. (vi) It should be ensured that the balance in the savings account does not turn into negative balance solely on account of levy of charges for non-maintenance of minimum balance.

Query: - My Overall balance in your savings account is Negative Rs. ***.**/- which should not happen because as per RBI the balance in my account can not be negative in any case.

Moreover I want reversal of all the charges levied in my account and all others customer in which RBI Guidelines have not been followed.

The Branch Manager and all other Top Bank Officials who are found negligent in rendering satisfactory banking services should be suspended for life. Our above case raises a questions mark: Are there no analytical system to check compliances with various Rbi Guidelines and Rules for each and every transactions at the banks end so that corrective necessary actions can be taken for the aggrieved customers before much delay ? What Bank officials are doing all day long ?


Please take urgent necessary corrective steps on the same on high priority basis.