SBI For Non-Fin Transactions As Operative

Mumbai: Faced with the challenge of ensuring an account remains operative, the State Bank of India (SBI) has written to the Reserve Bank of India (RBI), requesting change in rules, and consider non-financial transactions like balance checking as well for tagging an account as operative.

CS Setty, chairman of the country’s largest lender, said many a time, an account holder, especially ones where cash transfers under government programmes is the primary usage, does limited number of financial transactions.