Bank of Baroda, Punjab National Bank, Indian Bank and Canara Bank are some of the big banks to have removed the minimum balance criteria on the majority of their savings accounts. In a move welcomed by millions of customers, two leading public sector banks— Indian Bank and Punjab National Bank (PNB) —have officially removed minimum balance charges for their savings account holders. In a significant move aimed at enhancing financial inclusion and easing banking norms, Indian Bank and Punjab National Bank (PNB) have announced the waiver of minimum balance penalties for savings account holders. Two major Indian banks—Indian Bank and Punjab National Bank (PNB)—have removed penalties linked to maintaining minimum balance in savings accounts. These changes, introduced in early July 2025, aim to help more people access banking services, especially those from rural and financially weaker parts.
