CENTRAL BANK OF INDIA TO CLOSE ZERO BALANCE ACCOUNTS

Central Bank of India will be closing those accounts which have zero balance.

“The account holders are aware that stipulated minimum balance has to be maintained in their accounts. It is noticed that in certain accounts, there are no financial transactions during the last 12 months,’’ the bank said in a notification.

As there was also zero balance in these accounts, it was evident that the account holders do not want to maintain their accounts with the bank for financial transactions. As such, the bank has decided to close all such accounts, it added.

SOURCE: http://www.thehindubusinessline.com/industry-and-economy/banking/article3280511.ece