Stop the 5000 rupees monthly average balance constraint in urban SBI bank accounts.
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Maintaining a 5000 rupees minimum average balance in the metro cities is a new constraint being implemented by the SBI. The problem that it creates is that SBI is not being thoughtful about the people who have come from rural areas, to the metros, to earn money. The lower middle class workers, dont earn so much that they can maintain an average balance like that. They have to send money back home as well as tackle the cost of living in the metro.
Not maintaining this balance results in a penalty of Rupees 100 + Service tax,per month. It is very difficult for daily wage workers who don't even get to deposit the money in their accounts and whatever they earn, goes in making the ends meet for the day. How can the Banker to every Indian,SBI be so naive and not take into account the countless slum dwellers in Metro cities who are trying to rise up in the society, will be affected by this? The politics of the country holds back the growth of such people. But the bank that helps them with loans and funds should not do the same and instead help them.
The bank creates schemes such as opening Zero Balance accounts and then they take a decision like this?
We urge the SBI chairperson Arundhati Bhattacharya that this constraint should be removed and the previous constraints of rupees 500 and 1000 to be the only constraint.
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