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Citibank Forces Suvidha Accounts To Rs. 100,000 Minimum Balance

Two people in my family received a registered post from Citibank when we weren’t around; and knowing Citibank I was sure something bad was going on, so we went to the post office pronto and fetched two letters. Both of them told us that:

a) From March 1, their Citibank Suvidha Accounts would no longer be valid and would be converted into “Citibanking” accounts.

b) Such citibanking accounts needed a minimum balance of Rs. 100,000. Of course they call it “Net Relationship Value” which means a sum of FDs and mutual funds and . . .

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