The Department of Posts has asked post office savings account-holders to maintain ₹500 as minimum balance in their accounts by December 11 to avoid paying a penalty.
According to an official press release, the minimum amount required to be maintained in the savings account has been raised from ₹50 to ₹500.
Orders were already issued by the Central government last December.
If a postal customer fails to maintain a minimum balance of ₹500 in the account, the post office will deduct ₹100 as penalty on the last working day of the financial year, the order said.
