बैंकों ने लोगों की सेवा करने के बजाए उनका शोषण करना शुरू कर दिया है

बैंकों ने लोगों की सेवा करने के बजाए उनका शोषण करना शुरू कर दिया है

बैंक लोक कल्याण से भटक कर व्यावसायिक कल्याण के मार्ग पर चले गए हैं, उन्होंने लोगों की सेवा करने के बजाए उनका शोषण करना शुरू कर दिया है, वे कॉर्पोरेट को दिये ऋणों से हुए नुकसान की वसूली आम लोगों से बैंक चार्जेस के माध्यम से करने लगे हैं। वे…

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.…

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.…

Yes Bank Debacle exposes RBI’s Failure: Time to Hold the Responsible Accountable & Nationalise Private Banks

Public Statement | March 9, 2020 Yes Bank Debacle exposes RBI’s Failure Time to Hold the Responsible Accountable & Nationalise Private Banks Reserve Bank of India has once again failed the depositors of this country by putting Yes Bank under the restrictions for a month and putting the cap on…

Government Seeks another Bail-out!

  Government Seeks another Bail-out! New Delhi, 13 January 2019: Financial Accountability Network India (FAN India) condemns the government’s move to seek another round of funds from Reserve Bank of India (RBI). This comes in just months after the RBI approved Rs. 1.76 Lac Crore (including Rs. 52,637 crore from…

Public Statement: Communalising Banking

New Delhi, December 27, 2019: Financial Accountability Network India condemns RBI’s amendment of Foreign Exchange Management Regulations (FEMA) Act, that requires customers with a Non-Resident Ordinary (NRO) account to identify their religion for their ‘Know your Customer’ (KYC) details. The changes, which are in tandem with the Citizenship Amendment Act (CAA)…

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…