Here is the website where you could get all the visa information if applying in India:
What is an appropriate amount of money to have in the account?
Actually most Schengen countries require at least 50 to 60 Euros per day plus air travel expenses. Norway is one of the most expensive countries to visit, therefore if you are visiting for 9 days you have to have 600 to 700 euros plus the cost of your airline ticket. Nowadays most travel agents and tour operators suggests to show at least 2500 euros if you are visiting for 10 to 15 days.
Although these are the minimum requirement to satisfy the visa officer that you can maintain yourself during your stay in Schengen states, you still need to convince the visa officer that you earned all these money lawfully in India by providing at least last 6 months bank statements along with official maintenance letter signed by the bank manager:
1 If employed :
Employment contract with payslips last 3 to 6 months.
Leave permission from employer
Income Tax Return (ITR) form or Certificate of Income Tax deducted at
the source of salary
2 If self employed
Company registration certificate with relevant authorities plus copy
of your business license
Company bank statement of the latest 6 months plus maintenance
Income Tax Return (last 2 to 3 years)
Flights/accommodation are already paid in full. Can I still be
rejected because of a low balance?
Yes, it is written in all Schengen visa application that "compliance with required documents doesn't necessarily means that a visa would be issued".
Also it is advisable from most Schengen embassies/consulates that do not purchase any tour package and airline ticket until a visa has been approved, same is written in embassy of Norway visa document checklist:
" (Do not buy the ticket until a visa has been granted. Note: If the application is approved, the visa will be issued according to the dates on the booking)."