Date: 31st August 2023 We the undersigned express our deep concern on reports in the news media which state that a State Bank of India (SBI) led consortium is planning to invest ₹ 34,000 crore in the first phase of Adani Enterprises led Coal to Poly Vinyl Chloride (PVC) project…
Tag: SBI
FAN India Condemns the Continuous Exploitation of Depositors by Banks even During the COVID Times
July 11, 2020, Delhi: Financial Accountability Network India condemns the banks for resuming the bank charges which were withheld for three months by Finance Minister. While all the banks resumed the ATM charges and penalty for not maintaining the minimum balance from the month of July, Bank of Maharashtra increased the…
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…
SBI Waiver on Minimum Balance Penalty is Welcome: All Bank Charges
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. In 2017, SBI imposed penalty on minimum balance and other banks followed the same, resulting in heavy financial burden for the…
Bank Charges Hurt Poor the Most
In the last few years, banks have begun foisting hefty charges on customers on all the banking transactions. While some of the charges existed before but the new charges have been introduced on very basic everyday’s transactions. At present most banks even have charge on maintaining minimum balance, cash deposits…
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.…
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…