Revoke transaction, ATM withdrawal fee hike, 5000 minimum balance requirement criteria.
This petition had 44 supporters
Country's biggest banking major State bank of India (SBI) along with other banks declared hike in banking transaction charges, cash deposit charges, ATM withdrawal fee from 1st April,2017. Moreover all the account hoalders are being forced to maintain Minimum Average balance (MAB). Its a strange and off course not in the favor of crores of general public having account with SBI. Following points are need to be considered before taking this draconian step:
· 1. 99% People deposit money in bank or have money in their account for safety and they will withdraw only the amount needed. Now charges on ATM will force them to draw money exceeding their need. Its creates unhealthy environment both for common man and bank
2. Not every one in metro is getting double digit salary. there is concept of urban poor and its a completely injustice to them.Its really impossible for some people to maintain 5000 minimum average balance as they are struggling for bread and butter everyday.
3.This move is going opposite of central government's flagship plan of cash less and card less economy. Keeping the view of this exorbitant account maintenance charge villagers, necessitous people will not be interested to open bank accounts that renders them out of financial inclusion.
4. Students mostly open Savings bank account for their educational and day to day need. Most of the times they withdraw and deposit small amount of money as per their requirement.This case is also applicable to small vendors, sabjiwalas, shopkeepers who use to deposit small amount as daily savings in regular interval.
After all banking transactions are not completely free as we are paying SMS charges, draft charges, check book charges, debit card annual maintenance charges and other fees. So the proposed fee hike is a complete injustice and harassment to general public in a country like India where till now near about 40% of population is out of financial network.
Sign a petition to revoke this proposed fee hike, other charges and Minimums balance criteria for betterment of general public.
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