Why should I pay transaction fees to use my own money?
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SBI, India's biggest bank, joins foreign banks with over 50 per cent foreign equity - HDFC Bank, ICICI Bank and Axis Bank - to slaughter depositors. The Indian Express today on Page 15 reports: SBI slaps charges on cash deposits, breaching balances. Charges will be applicable from April 1. IE writes: While three cash deposit transactions will be free in a month, beyond three transactions the bank will charge Rs.50 plus service tax for each transaction. In the case of ATM transactions, after the permissible number of free transactions SBI will charge Rs.20 plus service tax, per transaction. SBI has also imposed service charge for failure in maintaining monthly average balance in metro, urban and rural centres. SBI will also charge issue of cheque books, cheque collections.. et al. Depositors will not be taxed for walking into a SBI office. Is it not the constitutional right of a depositor to withdraw his deposits free? RBI as usual is in the silent mode while one cannot expect courts to fight for the depositor.
Banks have started to increase transaction fee!
Service tax has gone up big time and will increase even more!
We were taxed for earning money.
We are taxed for spending money.
We were taxed for hoarding money.
We are taxed for withdrawing money.
We are taxed for depositing money.
We are taxed for service money
We are taxed (cess)for education
We are taxed for Swatch Bharat
We are taxed for purchase
We are taxed for sales
We are taxed for manufacturing
We are taxed for public Utility
Earning is a crime.
Saving is a crime.
Spending is a crime.
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