Indian banks collected over ₹7,000 crore from account holders during the 2026 fiscal year for failing to maintain the required minimum average balance.
Private sector banks led the collections with ₹4,949 crore, significantly outpacing the ₹2,138 crore collected by the 12 public sector banks combined.
HDFC, Axis, and ICICI Bank were identified as the top contributors to these penalty revenues, sparking renewed debate over the fairness of such charges for retail customers.