Corona Effect: No minimum balance required to maintain till 30th June said FM Nirmala Sitharaman

She also said that soon economic relief package will be announced via economic task force team

Story Highlights
  • There is a economic disruption all across the world due to COVID-19
  • Total corona virus cases in India has crossed 500 and death toll reaches 10
  • Complete lockdown in 30 states & Union Territory till 31st March

Delhi: Finance Minister Nirmala Sitharaman announced series of measures to combat the economic crisis clouding the country as well as the rest of the world due to Corona virus pandemic. She said zero penalties on non-maintenance of bank account for 3 months

While addressing the media, she said “You will now be allowed, without additional charges, to be able to withdraw from any bank ATM and there will be no minimum balance maintenance for next 3 months”

This came as a relief for all the bank account holders as they need not to worry about any penalty for not maintaining a particular sum amount in their banks.

She added that depositors would be able to withdraw cash via their debit cards from any bank ATM without paying any additional charge

Read this article to know all about the press conference

This move will also help people travel less and practice social distancing effectively. “To avoid rush at banks, perform online transactions as much as possible. Also use UPI,” said Minister of State for Finance Anurag Thakur.

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