Financial Accountability Network – India
Striving to Make Financial Institutions Accountable
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.…
In the last few years, banks have begun foisting hefty charges on customers on all the banking transactions. While some of the charges existed before but the new charges have been introduced on very basic everyday’s transactions. At present most banks even have charge on maintaining minimum balance, cash deposits…
Four officers’ unions, All India Bank Officer’s Confederation (AIBOC), the All India Bank Officer’s Association (AIBOA), the Indian National Bank Officer’s Congress (INBOC) and the National Organization of Bank Officers (NOBO), have called for a strike on September 26 and 27 to protest against the merger of 10 state-run banks…
Several civil rights organizations, trade unions and their representatives have called the recent Government of India announcement of the merger of 10 public sector banks (PSBs) as a systematic step towards “privatising” them, adding, it is line with “a slew of waivers” for the so-called wealth creators, who are actually…
New Delhi, Sep 3 The twin moves of transferring RBI surplus to the Union government and merger of banks will further aggravate the slowdown the Indian economy is facing, CPI(M) general secretary Sitaram Yechury said on Tuesday. Speaking at a debate hosted by the Financial Accountability Network, he said the…
यह आलेख पुढारि में प्रकाशित हुआ था।
Financial Accountability Network India has welcomed the Reserve Bank of India’s decision to remove charges for the RTGS and NEFT transactions and to form a committee under the chairmanship of Chief Executive Officer, Indian Banks’ Association, to “examine the entire gamut of ATM charges and fees”. “As a group of…
यह आलेख एमपीसी न्यूज़ में प्रकाशित हुआ था।
यह आलेख लोकमत समाचार पत्र में प्रकाशित हुआ था।
By Ashish Kajla Banks act as financial intermediaries between depositors and borrowers. It is the public money, deposited in the form of term deposit (fixed deposits) and time deposit (saving and current accounts) which banks use for lending to borrowers. Since public money is important for the banking sector, banks…