Penalty levied for Non-Maintenance of Minimum Balance
Public Sector Banks As per the data provided by the government to the Parliament of India, since the financial year 2014-15, until September 2018, the Public Sector Banks have collected Rs 7027.81 crores for non-maintenance of minimum balance in Saving Bank accounts. Private Sector Banks Whereas, the Private Sector Banks,…
The Arbitrary Bank Charges Must be Removed
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 & current accounts) which banks use for lending to borrowers. Since public money is important for the banking sector as a whole, banks…