SBI will fund Aadhaar linkage costs, technology upkeep via penalty

According to reports, State Bank of India (SBI) will use the sum accrued from the penalty received via bank accounts that have failed to maintain a minimum balance, to cover the Aadhaar linkage costs.

SBI managing director Rajnish Kumar said that the firm expects to collect around Rs. 2,000 crore as penalty in the current fiscal from savings account holders.

Here’s more.

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