The Real Aim of Demonetisation was to Kill the Informal Economy, Rest of the Claims were Just Lies and Jumlas Press Conference on Five Years of Demonetisation 12th November 2021, Press Club of India, New Delhi Financial Accountability Network India ———————————————————————————– “If they needed to fight black money, it…
Category: Blog
The National Monetization (PRIVATIZATION) Pipeline & The Return of the Company Raj
Join a Two-Day Online Convention On: The National Monetization (PRIVATIZATION) Pipeline & The Return of the Company Raj 13th & 14th September 4 pm – 6 pm [Find the panelists for each day on the poster] Zoom Meeting ID: 940 1494 0384 Passcode: 000007 Financial Accountability Network India & People…
Bank Nationalization Day: In Defense of Public Sector Banks
In Solidarity with the Nationwide General Strike!
In Solidarity with the Nationwide General Strike! Scrap Farm Bills! Withdraw anti-Labour Reforms! Stop Privatisation of PSUs! New Delhi, November 23, 2020: Financial Accountability Network India (FAN India) stands in solidarity with the nation-wide general strike on 26th November called by the trade unions demanding withdrawal of anti-worker wage/labour…
Bank Charges Should be Scrapped and Not Just Paused out of ‘Benevolence’
Bank Charges Should be Scrapped and Not Just Paused out of ‘Benevolence’ November 4, 2020, New Delhi: The Ministry of Finance announced yesterday that, no Public Sector Bank has increased the bank charges and will not do so in view of the COVID pandemic. The announcement came after strong backlash…
When Banking Becomes a Burden
Due to nationwide lockdown started from 24th March, 2020 amid of corona pandemic, Finance Minister Ms. Nirmala Sitaraman announced waive off of charges for not maintaining Monthly Minimum Balance and for ATM transactions for 3 months, i.e. April-May-June as a part of economic relief measure. But despite this announcement,…
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 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
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
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…