Public sector banks (PSBs) mopped up over Rs 8,000 crore from the savings accounts of customers for non-maintenance of minimum balance in the last three financial years, with Punjab National Bank (PNB) topping the list. 

The amount collected from SMS charges stood at over Rs 3,388 crore from the PSBs during these three financial years ending FY25, with Union Bank of India taking the lead.

PNB received Rs 1,577.87 crore for the non-maintenance of minimum balance amount in savings accounts during the financial years 2022-23, 2023-24 and 2024-25, Parliament data showed. 

Out of the total collected amount of Rs 8,092.83 crore by the 12 PSBs, PNB accounted for almost 20% of the non-maintenance of minimum balance charges.   

Bank of Baroda came next, with Rs 1,272.17 crore (16%), followed by Indian Bank received Rs 1,166.27 crore (14%) in the third spot.

Canara Bank at Rs 1027.23 crore, State Bank of India at Rs 932.82 crore, Bank of India at Rs 540.07 crore, Union Bank of India at Rs 495.75 crore, Bank of Maharashtra at Rs 428.32 crore, Central Bank of India at Rs 383.81 crore, UCO Bank at Rs 115.29 crore, Punjab & Sind Bank at Rs 110.12 crore and Indian Overseas Bank at Rs 43.61 crore were the other PSBs in hierarchical order for amount of collection from the non-maintenance of minimum balance charges.

Revenue from SMS charges 

The PSBs received close to Rs 3,388 crore in the last three financial years as charges for providing SMS facilities, according to data provided by the Ministry of Finance in Parliament.

SBI did not figure in the list as it had waived these charges since 2020.

The Union Bank of India received Rs 1,188.14 crore for providing SMS facility to its customers during the last three financial years ending FY25, accounting for around 35% of all such charges collected by the 11 PSBs. 

Canara Bank occupied the second spot with Rs 506.28 crore, followed by PNB with Rs 360.45 crore, accounting for 15% and 10%, respectively.

Central Bank of India collected Rs 308.72 crore as SMS charge fees in the three financial years, followed by Indian Overseas Bank with Rs 204.89, Bank of Baroda (Rs 202.42 crore), Bank of India (Rs 183.78 crore), Indian Bank (Rs 182.49 crore), Bank of Maharashtra (Rs 117.86 crore), UCO Bank (Rs 113.27 crore) and Punjab & Sind Bank (Rs 19.77 crore).