Bank Charges in India must be brought under control to save savings of Common Man.

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Dear Friends,

Just a couple of days before, my friend paid the school fees of Rs.49,000/- for which around Rs.850/- he paid as transaction charges using Debit/Credit card.  Just imagine the bank’s revenue and customer’s loss, if this continues.

In my opinion, if a person earn Rs.50,000/- per month, he/she need to keep at least 1,000/- exclusively for such loot bank charges.  Isn’t?

Therefore, this petition is on complicated bank charges on almost every walk in and around all bank transactions. Cash deposits, withdrawals, Cheque transactions, Minimum balance charges, Online Payment through debit/credit cards, transfer of amount from online/app to other accounts, everything, almost everything, is charged.  Whether, the customer is aware or not, the banks are charging & increasing also without the notice to the customers.

No banks are having the complete bank charges list displayed in their branches.  Even many customers do not know whether their bank is coming under Metro or Urban or Semi-urban or Rural.

Without creating any awareness, the banks are looting the customers almost in each transaction.

Then, what is the purpose of promoting digital transations?  To make bank flourish?  And, to make Aam Aadmi poor? 

Will anybody agree that even if our amount is not maintained in SB/Current account, we need to pay MAB charges?  Strange & shame on policies.  Is it not our amount?  How the banks can charge on keeping our amount with them?  When they charge on MAB it is Rs.60 or Rs.40 or something else.  However, the interest for keeping our amount is maximum of 4%.  Is it not contradictory?

Now the point is that, if the Government need to promote the digital transactions, it must bring the bank charges (on bank / ATM / Credit card transactions), across all banks (nationalized, private, public or whatever it may be) so that the customers (at least SB account holders) will feel sigh of relief.

This is the link from RBI’s official website in which the links of all banks’ Service Charges are listed (as on 21.09.2017):

SBI’s list of service charges:

(Punjab National Bank’s link is not working !!!)

Just check and if you agree with my views, please vote & share to create awareness among the public and to forward to all government functionaries for their kind consideration.

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