State Bank's thoughtless minimum balance order
Without taking into account the ground realities and also not considering Modi government's policy of encouraging all the country men to have bank accounts, whether rich or poor and not considering the likely repurcussions , State Bank of India has issued directives that there should be minimum balance for account holders and fine will be imposed for not maintaining it.
This directive is flawed from several angle.
This is contrary to Modi government's jandhan yojana scheme, where around 27 crore poor people were allowed to open the bank account with zero balance.
Now, after doing the damage, SBI chairperson has said that this order will not be applicable to account holders under jandhan yojana scheme.
SBI has said that different minimum balance will have to be maintained by account holders in metro, urban and rural areas. What logic for this ? Large number of poor people live in metropolitan and urban areas also.
Immediately after this order, there is huge public uproar with motivated opposition parties and self centred bank unions saying that Mr. Modi is responsible for this.
Now, Modi government has asked the SBI to reconsider it's decision.
Is it possible that SBI chairperson has issued such crucial order without informing the government of India ?
If this is so, then the SBI chairperson should be asked to quit.
N.S.Venkataraman
Nandini Voice For The Deprived more
This directive is flawed from several angle.
This is contrary to Modi government's jandhan yojana scheme, where around 27 crore poor people were allowed to open the bank account with zero balance.
Now, after doing the damage, SBI chairperson has said that this order will not be applicable to account holders under jandhan yojana scheme.
SBI has said that different minimum balance will have to be maintained by account holders in metro, urban and rural areas. What logic for this ? Large number of poor people live in metropolitan and urban areas also.
Immediately after this order, there is huge public uproar with motivated opposition parties and self centred bank unions saying that Mr. Modi is responsible for this.
Now, Modi government has asked the SBI to reconsider it's decision.
Is it possible that SBI chairperson has issued such crucial order without informing the government of India ?
If this is so, then the SBI chairperson should be asked to quit.
N.S.Venkataraman
Nandini Voice For The Deprived more
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This is anti people decision by SBI. Govt. should intervene in any decision of Banks which affect large population connected with Banks else whole push of Govt. to reach out banking system to the poorest will simply vanish. more
Mar 14
Very bad and worst policy ever taken by SBI. All want to save money atleast middle class. Wish it will be reviewed. more
Mar 08
Poor policy of SBI, Not matching with Govt. intention.(K N Keshri)From: "N.S. Venkataraman" Sent: Tue, 07 Mar 2017 21:32:05To: knkeshri@rediffmail.comSubject: New post "State Bank's thoughtless ..." in [Supporters of BJP and Modi] more
Mar 08
It is highly improper on the part of Indian banks to insist on minimum monthly balance, and levy extra charges for the services which they are supposed to give to their customers free. It may be bearable for well-off clients, but will be quite hard for the vast majority of Indian populace who struggle on daily basis to make their ends meet. Government should come with a heavy hand to reverse the bankers decision. more
Mar 08
The levy being imposed by different banks for the services from the account holders is without rationality. It is shear helplessness of the small and simple customer of the bank. Starting with issue of cheque book, up-dation of the saving bank pass book, etc all services are arbitrarily being priced and cost deduction are made without consent/ signature of the account holder. All actions are going against what the PM is advocating for cash less economy. Some body should listen the voice of the weak more
Mar 08
