The validity of cheques of former Associate Banks has been extended till 31st December, 2017. Apply now for a new SBI cheque book. pic.twitter.com/wkeuM2M9oI— State Bank of India (@TheOfficialSBI) October 11, 2017
The bank said that the users can avail the new cheque books via internet, mobile banking, visiting ATMs or the home branch. Apply for new cheque books before December 31 to avoid any inconvenience, SBI further stated.
SBI also revised its service charges for maintaining monthly average balance (MAB) for its account holders. From October onwards, the bank has decided to treat the metro and urban centres in the same category, it said in a release.
SBI recently completely waived off account closure charges for some accounts.
The change comes at a time when SBI, which accounts for more than a fifth of India's banking assets, has been seeing bad loans rise after it absorbed five subsidiary banks earlier this year. The bank merged Bharatiya Mahila Bank (BMB) and its five erstwhile associate banks - State Bank of Patiala, State Bank of Bikaner and Jaipur, State Bank of Raipur, State Bank of Travancore and State Bank of Hyderabad - with itself.
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