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।

Bank Charges: Punishment for the Poor and Marginalised

Bad loans have worsened the banks’ balance sheet. Because of this, the money which banks need to put aside (called provisions) for bad loans has increased manifold, resulting in a decrease of money available with banks for lending. By Ashish Kajla Does financial inclusion mean taking away the hard-earned savings…