SBI clarifies on report of unpaid refunds of Rs 164 crore from account holders of Pradhan Mantri Jan Dhan Yojana

Since June 1, 2017, unlike any other bank in India, the report said, SBI charged Rs 17.70 for every debit transaction beyond four a month, said reports.

New Delhi: The State Bank of India (SBI) has clarified its stand on media reports that had stated that India's largest public sector lender is yet to return Rs 164 crore of undue fee charged from the account holders of Pradhan Mantri Jan Dhan Yojana (PMJDY) towards digital payments during April 2017 and December 2019.

"On directions from the government, SBI has returned just about Rs 90 crore, thereby withholding the bigger chunk of at least Rs 164 crore with itself," said the report prepared by IIT-Mumbai.

“There has been a news article on 22.11.2021 that SBI is not refunding charges recovered from the customers on digital transactions. We confirm that Bank is in full compliance with the Government and regulatory directives in this regard,” the bank responding on media claims stated.