[Resolved]  Current Account — Penalty for min balance

Address:

Tiruchirappalli, Tamil Nadu

I am an current Account holder on my firm " SHERIFF ASSOCIATES ". I have opened my Current account in the month of say May 2010. My mail id is [protected]@gmail.com and [protected]@sheriffassociates.com.

Recently I was away from Trichy for my personal work and my min bal has come down to Rs9975/= on 30.12.2011, a shortage of only Rs25/=. While opening the Current account I was told to keep a min balance of Rs10,000/=.,but I was of the impression that this would be for a financial year April to March, where all the small Firms operate their accounting from April to March.

On 31.12.2011, an amount of Rs1000/= was deducted from my accounts for penalty for not keeping min bal of Rs10000/=.

On 10.01.2012, when I approached the Branch Manager of SBI Ramalinga nagar and told him the whole story, that time also I was not told that the accounts operate for Calender year. I have told him that you have penalised a customer by deducting Rs 1000/= for a lesser amount of Rs 25/= towards the min bal .I told the Manager for closing down my account, he told me to give a written request with the bal Cheques if available. I have brought the bal cheque leafs and with a written request for closing my current account, I gave all the papers to Asst Manager, since Manaer was away. I told her to close the account and deposit the bal amount to my Savings account.

I was shock to see the statement in the evening that further Rs1000/= was deducted for min bal.I was not told about this when I submit my account closing request.

Please give me a reply, with a written data anywhere that the current account operates on Calender year and also, there is no such standing instruction to the customer that the penalty will be imposed if the min bal is not maintained for the Calender year.

Sheriff Associates.