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.…

SBI Waiver on Minimum Balance Penalty is Welcome

Public Statement: March 12, 2020 SBI Waiver on Minimum Balance Penalty is Welcome: All Bank Charges, Hurting the Poor, Must Go. Financial Accountability Network India (FAN India) welcomes the announcement of State Bank of India (SBI) to waive the penalty for not maintaining Average Minimum Balance and for SMS service.…

Bank Charges: Penalising The Poor Continues, As Corporates Enjoy Rs. 6 Lakh Crore Write-Offs

Public Statement | 27.11.2019 New Delhi: The public sector banks collected just under Rs 2000 crore in 2018-19 as a penalty for not maintaining the minimum balance in savings bank accounts. This was revealed by the Minister of State for Finance, Mr. Anurag Thakur in the Lok Sabha on Monday…

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…

‘Not Just RTGS And NEFT, RBI Must Do Away With All Bank Charges’

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…

The Conspiracy behind Banking Charges, Payments Banks, and Demonetisation

By Randhir Singh Consumers are subjected to great inconvenience by various charges levied by banks. “Banks have extorted over Rs.50,000 crore from customers in dubious levies and charges. Public Sector Banks (PSBs) alone had collected Rs. 10,000 crore as penalty from customers for not maintaining a minimum balance in their…

पिंपरी: बैंकांकडून होणारी सर्वसामान्यांची लूट थांबवण्यासाठी केंद्रीय अर्थमंत्री यांना पाठविणार हज़ार पत्रे-काशीनाथ नखाते

यह आलेख एमपीसी न्यूज़ में प्रकाशित हुआ था।