Stop the rule of Monthly Average Balance for all banks
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The rule of Monthly Average Balance for Metropolitan, Urban, Semi-urban, Rural areas must be removed.
The Monthly Average Balance for SBI is as follows:
1. Metropolitan Area - ₹ 5000
2. Urban Area - ₹ 3000
3. Semi-urban Area - ₹ 2000
4. Rural Area - ₹ 1000
Hon. Prime Minister Mr. Narendra Modi Announced the Jan Dhan Accounts which can be operational with zero balance and now the government is telling us to keep ₹ 3000 in that account.
As if a person who lives in a metropolitan area and works on daily wages of ₹250 per day, how can he keep that amount in the bank?
If a student lives in an urban area for his/her higher education, his parents give him money for the daily expenses. So how can a student keep ₹ 3000 in that account.
And if any person fails to maintain the Monthly Average Balance , High amount of penalty is charged by the bank. The charges are ₹50+GST to ₹100+GST per month. If a poor is not able to make that much money to maintain the Monthly Average Balance, how can he afford those penalty charges? And if a poor tells the bank for closure of account, the bank charges ₹ 500+GST for that.
This rule is totally against the poor, the students, and the farmers. The bank is using our money but can't issue the poor with a loan.
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