Do you have a bank account with State Bank of India (SBI), the largest lender in the nation? Then you might be interested in this news.

Attention SBI account holders! ₹147 has been debited from your balance. Here's why — Attention SBI account holders! ₹147 has been debited from your balance. Here’s why

Are you one of the SBI customers who got notification that ₹147.50 has been taken out of your account without your authorization? There is no need to be concerned about this as the bank has already deducted this sum from your account each year to cover the yearly maintenance/service cost for the ATM/debit card you use.

For a variety of debit cards that its clients use, SBI adds an extra 18% GST on top of the 125 rupee yearly maintenance cost. Therefore, if we multiply 125 by the GST, we get 147.50. In addition, the bank charges ₹300 plus GST to replace or modify a debit card.

The transaction fees for different credit card-related transactions have been updated by SBI Cards and Payment Services Limited. On its website, SBI Card stated: “With effect from November 15, 2022, a processing fee of ₹99 plus relevant taxes would be imposed on all transactions including rent payments.”

The SBI Card website states that “as of November 15, 2022, the Processing Fee on all Merchant EMI transactions will be raised to₹199 + applicable taxes from ₹99 + applicable taxes.”

In terms of assets, deposits, branches, clients, and staff, State Bank of India is the biggest commercial bank. The bank has deposits totaling more than ₹41.90 lakh crore as of September 30, 2022, with a CASA ratio of 44.63%, and advances totaling more than ₹30 lakh crore.