BUSINESS

PNB earns over Rs 645 crore through ATM transaction charges in FY22

New Delhi: Public sector lender Punjab National Bank has said it earned over Rs 645 crore by levying ATM transaction charges on customers during the financial year 2021-22. Revenue earned by PNB from ATM transaction charges stood at Rs 645.67 crore in financial year 2021-22, the bank said in response to an application seeking information under the Right to Information (RTI) Act.

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Besides, the country’s second largest lender collected Rs 239.09 crore in the form of penalty imposed on customers who failed to maintain minimum balance or quarterly/monthly average balance in their bank accounts, according to the bank’s response to Madhya Pradesh-based RTI applicant Chandrashekhar Gaur.

In 2020-21, the bank had earned Rs 170 crore by levying charges on customers for not maintaining minimum balance in their accounts.

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This amount was collected from 8,518,953 accounts during FY22. To a query on the number of zero balance accounts with the bank, PNB (Punjab National Bank) said there were a total of 67,637,918 such accounts as of March 31, 2022.

Going by the trend for the last four financial years from 2018-19 to 2021-22, it was revealed that the zero balance accounts in PNB have gone up steadily over these years. 

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As of March 31, 2019, there were 28,203,379 zero balance accounts at PNB, which increased to 30,583,184 by the end of March 2020 and further to 59,496,731 as of March 31, 2021. 

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