| Direction: Study the following information carefully and answer the given questions. |
| The country's largest lender State Bank of India has brought down service charges on not maintaining monthly average balance (MAB) by a whopping 20-50%. The bank has also decided to treat the metro and urban centres in the same category and the requirement of MAB in metro centres stands reduced to Rs. 3000 from Rs. 5000 earlier. |
| Which of the following will be an effect on the SBI after decreasing its monthly average balance? |
| (a) Several SBI account holders have either closed their accounts or transferred them to other banks. |
| (b) People who maintain their accounts in SBI are lower- or middle-class people or students |
| (c) Several account holders of SBI do not maintain their average daily balance in their accounts. |
| (d) The revision in the MAB will benefit several customers of SBL |
| (e) Account holders of SBI will have to pay less charges on non-maintenance of MAB. |
A) Only (b)
B) Only (a)
C) Only (c)
D) Only (e)
E) Only (d)
Correct Answer: D
Solution :
Reduction in the charges by SBI will help the customer in paying less amount if the customer failed to maintain the average balance in their account.
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