Has your SBI bank account been debited with Rs.147.5? what is the reason?

State Bank of India, popularly known as SBI, had recently announced that Rs 147.5 crore had been deducted from its customers’ bank accounts.

Many people will be confused as to why it was chosen. Banking companies charge annual maintenance charges for debit and credit cards issued to their customers based on their features.

That is how SBI Bank has deducted Rs 147.5 as an annual maintenance fee of Rs 125 and 18 per cent GST of Rs 22.5 for Classic, Silver, Contactless and Global debit cards issued to its customers.

And you have to pay Rs 300 + GST ​​if you want to use your SBI Debit Card.

Not only SBI Bank but all banks charge annual maintenance fee for debit cards issued by their bank customers depending on its services and features.