PNB has become the second public sector bank in the country to do so. Earlier, Canara Bank had also removed the penalty for not maintaining minimum balance on all its savings accounts from June 2025. Now PNB customers will be able to operate their accounts on zero balance without any additional charges.

What is MAB (Minimum Account Balance)?

MAB means minimum average balance that a certain average amount will remain in your account during a month. If this does not happen then the bank charges a penalty. But now this will not happen in PNB and Canara Bank.

Which accounts will benefit?

All types of savings account holders including savings account, salary account and NRI savings account will benefit from this new facility. This will make access to banking services easier and more people will be able to open accounts as there will be no problem in maintaining minimum balance.

SMS and ATM transaction charges still continue

However, despite the removal of minimum balance penalty, PNB will still charge some other charges. For example, customers will be charged a nominal charge for SMS alert service. Which includes account transaction information, balance alerts and other updates.

Apart from this, 5 free transactions are given every month from PNB Debit Card, which includes cash withdrawal, balance enquiry etc. After this, a charge of Rs 23 will be charged on every additional transaction.

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The post No Penalty imposed for not maintaining a minimum average balance in savings account, read the full news first appeared on Rightsofemployees.com.

However, there are some cases in which there will be no penalty for filing ITR even after the 31st date. If your income is completely tax exempt, then you will not have to pay any penalty for filing late ITR. There is also a condition in this that you should not have any other eligible source of income. Apart from this, taxpayers who are not required to file ITR under the law, they simply do so voluntarily. They will also not have to pay a penalty.

It is necessary for them to file ITR

. Let us tell you that it is mandatory for some taxpayers to file ITR, even if they do not have a source of income. People who have Rs 50 lakh in their savings account. Apart from this, those who get a turnover of Rs 60 lakh or more from the sale of their products. People who pay electricity bill of Rs 1 lakh or more in a financial year. Professionals whose income in a financial year is more than Rs 10 lakh. It is mandatory for these people to file ITR.

These people will also have to file ITR

Apart from the people mentioned above, it is mandatory for some other people to file ITR. People who have spent more than Rs 2 lakh on foreign travel. People whose TCS or TDS is above Rs 25000. People who have property abroad or those who get benefits from foreign property.

The post No penalty for filing ITR even in August, these people will get this exemption first appeared on Rightsofemployees.com.