Current relief given by Banks is to waived charges on withdrawals to any ATM or No need for minimum balance requirement on the saving accounts.

Withdrawal charges and Minimum balance on the saving accounts, they are important for the banks, but as the situation of Lockdown the Finance Minister Nirmala Sitharaman took a step towards the welfare or beneficial for people, on Tuesday, March 24, 2020, by announcing some measures to counter the impact of Coronavirus. And the measures are:-

1. Waived the charges on cash withdrawal from any ATM: - Spreading of COVID-19 in the country there is lockdown and considering this Finance Minister Nirmala Sitharaman announced a relief that is waived off the charges which imposed on withdrawal on a debit card. So, for Three months any person can withdraw their cash from any bank ATM and on that withdrawal, No transaction charges added.
2. No minimum balance required on the saving accounts: - Every bank has their own a minimum limit of balance on the saving accounts and every customer has to follow the same. So, few PSU banks (Public Sector Banks) its minimum limit Rs. 1000 but for Private Banks this limit is Rs. 10,000 also.

So, these are the minimum balance on the saving accounts for the customers, and if they don’t follow this minimum balance strategy, then banks charges a heavy penalty from them.

From this requirement, the Finance Minister Nirmala Sitharaman saves us by announcing measures on Tuesday, March 24, 2020 that no requirement of minimum balance on the saving accounts for three months.

Only motive behind these measures are that Governments wants to safe the people by allowing them to withdrawal cash from the any ATM which is close to their house or area in the Lockdown situation because of COVID-19. And these measures also support the person, who earn on a daily basis or the person whose income effected by COVID-19, Lockdown.