Dictatorship of SBI on poor public for minimum balance.
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A move like a penalty on non-maintenance of minimum account will reduce the confidence of a poor, economically weaker or even a lower middle-class person who doesn’t earn enough or earn at all and hence is unable to maintain the minimum ₹5,000 balance.
Increasing tax burden, increased service charges on card (debit and credit) transactions, and now min balance is another addition . As If this is the only way they have left to waive off or write off big corporate loans , NPAs ,and even do all their social schemes.
This is sheer harrasment by SBI Bank to implement the rule of MAB (Monthly Average Balance) or pay penalty.
On one hand the govt wants "cashless" economy on the other hand "minimum balance" of 5000 !
Is it not CONTRARY...?
Another example of attack on poor silent saver. This is surely a "Anti Common Man Policy" and clearly a dictatorship by these heavy handed banking system which is imposed on poor public of our country.
This is the worst decision ever made by State Bank. If they will charge for saving account what will happen to low income group. Majority of the small saving holders shall badly get effected due to this decision.
Now where have the zero balance account policy gone? People who openend zero balance are being cheated!
They're just looting the people behind them. What about the common people who have no much money to service their homes. Instead of depositing money in the bank account they have to run their houses for all their basics needs. How india will become cashless?
It's just not acceptable to force the customers to park minimum 5K in the savings account. For some to have this amount is too huge a saving to be parked permanently in their account , with no returns. How STUDENTS or PENSIONERS are supposed to maintain this minimum balance?
This is Arbitrary. Banks will also have to consider, if the people can afford to block this amount or not. This will only put additional pressure on the resources of the people. .
Now SBI sounds like STATE BUTCHER OF INDIA.
Clearly SBI needs to review their decision or I urge to my fellow citizens to close their account with this bank.
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