State Bank of India has justified its move to levy penalty on non-maintenance of minimum balance, saying that it will balance the burden of managing a large number of no-frills Jan Dhan accounts. <br/><br/>Speaking to reporters in Mumbai today, SBI Chairperson Arundhati Bhattacharya said it has considered many factors and taken the decision after careful analysis. <br/><br/>She said all the banks have minimum balance requirement for account holders and SBI as such has the lowest minimum balance requirement. She clarified that the penalty on non-maintenance of minimum balance will not be applicable on Jan Dhan accounts. <br/><br/>The bank also said it has not received any formal communication from the government for re-considering the penalty non-maintenance of minimum balance. <br/><br/>