Private banks’ minimum-balance fees top PSBs’ ₹10,230 crore haul
Parliament data show HDFC Bank, Axis Bank and ICICI Bank collected over ₹11,000 crore in savings-account minimum-balance penalties in FY23-FY26, exceeding the total collected by 12 public-sector banks. Ten PSBs have discontinued the charge.
Parliament data showed HDFC Bank, Axis Bank and ICICI Bank collected over ₹11,000 crore in minimum-balance penalties during FY23-FY26, exceeding all 12 public-sector banks. Ten PSBs have ended such savings-account penalties, while RBI permits reasonable, transparent charges.
Why this matters
HDFC Bank's fee collection aligns with a recent signal that private banks collected ₹4,948.71 crore in FY26 minimum-balance charges, while HDFC also led card issuance alongside SBI Cards in June.
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