SBI will probably reduce the minimum average balance requirement by 75%. It also plans to change the mandate from monthly balance requirement to quarterly.
At present, the minimum average balance requirement for metros is at Rs.3,000, for semi-urban areas it is Rs.2,000 and for rural ares it is Rs.1,000.
Furthermore, due to the negative news on the income generated on the fees, SBI is planning to reduce the minimum balance requirement to approx Rs.1,000 but is yet to decide on it.