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This document outlines the schedule of charges related to the AXIS BANK current account for large retailers and distributors, effective from 1st March, 2017. It includes details on monthly average
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People Also Ask about
How is MAB calculated in Axis Bank?
MAB = Sum of EOD balances/Number of days in the month Suppose the “Monthly Average Balance” requirement of your bank is Rs 5000. It implies that the bank wants the average in your account to be Rs 5000. It does not necessarily require that you should have Rs 5000 balance at the end of every day.
What is the limit of Cheque transfer in Axis Bank?
There is no restriction on the cheque amount. However, sharing the cheque details through PPS for cheques amounting to INR 500,000 and above has been made mandatory by Axis Bank w.e.f. 01st September, 2021.
What is the full form of MAB in Axis Bank?
The monthly average balance is the minimum amount of money that the account holder has to maintain in their current account or savings account. This is the least bank balance that you need to have in your account each month to avoid being penalised by the bank.
What is the penalty for minimum balance in Axis Bank?
Having failed to meet this criterion, the account holder might become liable for a penalty imposed by the bank. Penalties for failing to keep up the minimum balance at Axis Bank can range from Rs. 250 to Rs. 500 each month.
How much Axis Bank charges for not maintaining minimum balance?
Penalties for failing to keep up the minimum balance at Axis Bank can range from Rs. 250 to Rs. 500 each month.
What is Axis Bank monthly service fee?
Key fees on your Account Charges related to your accountCash Deposit - Home & Non-Home Branch (Combined) Charges (Min 50 per txn,in Rs.)Above free limit and up to 50 lacs: 4/1000 Above 50 lacs: 5/1000Monthly Service Charge (in Rs.)100Business Classic Debit card issuance and annual fees (in Rs.)250 and 2507 more rows
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What is caphm account?
A caphm account refers to a special type of account used for managing and reporting financial activities, often related to cash handling and management.
Who is required to file caphm account?
Individuals or businesses that engage in cash handling activities and are subject to financial reporting regulations are required to file a caphm account.
How to fill out caphm account?
To fill out a caphm account, one must enter accurate details of cash transactions, including income and expenditures, following prescribed formats and guidelines.
What is the purpose of caphm account?
The purpose of the caphm account is to provide a clear and transparent record of cash transactions to ensure accountability and facilitate financial analysis.
What information must be reported on caphm account?
Information that must be reported on a caphm account includes transaction dates, amounts, descriptions of the transactions, and any relevant receipts or supporting documentation.
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