Bank Charges Exhausting Covid-19 Relief Fund

Bank Charges Exhausting Covid-19 Relief Fund

On 24th March, 2020, the Prime Minister of India has declared the nationwide lockdown due to global widespread of Covid 19. As a result, the entire businesses, works, and economy have shut down leading to enormous losses of jobs and livelihood. Consequently thousands of daily wage labours from different states (mainly…

The Worst Affect of Bank Charges on Working Class

The Worst Affect of Bank Charges on Working Class

The massive bank charges introduced in past few years have greatly affected the financial state of marginalised working class. This was better understood when the team of FanIndia has talked to some people of working class who belong to the indigent sections of the society such as farmers, construction labours,…

Banks levy numerous charges on customers for services

Banks levy numerous charges on customers for services

All the banks, especially the public sector banks have a moral obligation and social responsibility of promoting financial inclusion and social welfare. The banks run on the deposits and when a bank sinks, depositors lose their savings. Therefore, deposit holders have a right to the common and basic banking services…

Depositors facing double whammy of keeping savings and paying for bank losses

Depositors facing double whammy of keeping savings and paying for bank losses

The savings of people deposited in banks form the capital of banks which banks lend to borrowers. Banks earn interest on the loans issued to borrowers. The cost of operating expenses including salaries comes from this interest on the loans issued by banks. The saving account depositors receive interest on…

Depositors Paying the Price of Corporate Bad Loans

Depositors Paying the Price of Corporate Bad Loans

The primary objective of nationalization of banks was to reach out to each and every last person of our society. The purpose was to provide credit facilities to poor and marginalized sections and free them from the clutches of moneylenders. Banks were to provide credit to small and medium businesses.…

Statement on the Misleading Media Reports on SBI’s Service Charges

For Immediate Release Media Reporting on Bank Charges Misleading: SBI Continues to Fleece its Customers!! Public Statement by Financial Accountability Network India. September 23, 2019: There has been misleading media reports, which claimed that State Bank of India has revised various services charges. The reports claimed that there has been a…

Bank merger is another name of bank murder: Purushottam Sharma

In the wake of RBI’s decision to transfer Rs 1.76 lakh crore to the government as per the recommendations of the Bimal Jalan-led committee; and Modi Government’s the decision to merge 10 Public Sector Banks to carve out for large banks, a public debate titled ‘RBI’s Reserve Fund Transfer & Banks…

The government is now trying to get rid of PSUs: VK Tomar

In the wake of RBI’s decision to transfer Rs 1.76 lakh crore to the government as per the recommendations of the Bimal Jalan-led committee; and Modi Government’s the decision to merge 10 Public Sector Banks to carve out for large banks, a public debate titled ‘RBI’s Reserve Fund Transfer & Banks…

RBI must have a healthy reserve to prevent Rupee depreciation: Paranjoy Guha-Thakurta

In the wake of RBI’s decision to transfer Rs 1.76 lakh crore to the government as per the recommendations of the Bimal Jalan-led committee; and Modi Government’s the decision to merge 10 Public Sector Banks to carve out for large banks, a public debate titled ‘RBI’s Reserve Fund Transfer & Banks…