Since the beginning of the new year, many changes have been made by the banks as well. In earlier times we used to unknowingly try to withdraw so much money from ATMs that you did not even have that amount in your account. In such a situation, the transaction fails. The bank did not impose any penalty on you for making such a mistake, but now you have to pay a fine for making such a mistake. Now the State Bank of India (SBI) has significantly changed its rules. After this new rule is made, if someone violates the rules, then the account holder will be charged a fine.
According to the new rules of SBI, if you try to withdraw money above the amount in your account, then you will have to pay a fine of Rs 20 and GST for this mistake. The bank will charge you a fine for this mistake. Whether this mistake was made intentionally or accidentally. If the transaction fails due to any reason other than low balance, then SBI will not charge.
How to Avoid Fines?
If you want to avoid this fine, then you should know how much money is in your account. In such a situation, you can take the help of customer care, ATM, bank branch, or online banking to know your bank balance.