Banking and Customer Rights
The banking sector has definitely come a long way since nationalisation, we still are many miles behind in our target of achieving a fully inclusive banking system. Do we have a banking system where...
Bank Charges Should be Scrapped & Not Just Paused Out of ‘Benevolence’
The Ministry of Finance announced yesterday that, no public sector bank has increased the bank charges and will not do so in view of the COVID pandemic. The announcement came after strong backlash to Bank of...
THE BREACH OF TRUST BETWEEN BANKS AND THEIR CUSTOMERS
There are several factors which play an important role in determining the relationship between banks and their customers. One of the most important amongst them is what services banks provide and how they deliver...
BANK CHARGES EXHAUSTING COVID-19 RELIEF FUND
On 24th March, 2020, the Prime Minister of India has declared the nationwide lockdown due to global widespread of Covid 19. As a result, the entire businesses, works, and economy have shut down leading to...
Concept Note titled Public Money: Resistance Against Arbitrary Bank Charges
Banks act as financial intermediaries between depositors and borrowers. It is the public money, deposited in the form of term deposit (fixed deposits) and time deposit (saving accounts) which banks use for lending to...
SBI WAIVER ON MINIMUM BALANCE PENALTY IS WELCOME: ALL BANK CHARGES
Financial Accountability Network India (FAN India) welcomes the announcement of State Bank of India (SBI) to waive the penalty for not maintaining Average Minimum Balance and for SMS service.In 2017, SBI imposed penalty on...
THE WORST AFFECT OF BANK CHARGES ON WORKING CLASS
The massive bank charges introduced in past few years have greatly affected the financial state of marginalised working class. This was better understood when the team of FanIndia has talked to some people of...
How Banks Are Stealing Our Money
The Indian banking sector is under a prolonged and severe crisis. Bad loans continue to grow and banks remain under-capitalized with profits in the red. As a result, credit growth remains muted, reinforcing the...
कैसे बैंक हमसे हमारी बचत के पैसे लूट रहे हैं?
भारतीय बैंकिंग क्षेत्र एक लंबे और गंभीर संकट के दौर से गुजर रहा है। बुरे ऋण बढ़ रहे हैं और बैंक घटते मुनाफे के साथ कम-पूंजीकृत हो रहे हैं। नतीजतन, साख वृद्धि थम सी...
बैंकों ने लोगों की सेवा करने के बजाए उनका शोषण करना शुरू कर दिया है
बैंक लोक कल्याण से भटक कर व्यावसायिक कल्याण के मार्ग पर चले गए हैं, उन्होंने लोगों की सेवा करने के बजाए उनका शोषण करना शुरू कर दिया है, वे कॉर्पोरेट को दिये ऋणों से...
BANKS LEVY NUMEROUS CHARGES ON CUSTOMERS FOR SERVICES
All the banks, especially the public sector banks have a moral obligation and social responsibility of promoting financial inclusion and social welfare. The banks run on the deposits and when a bank sinks, depositors...
DEPOSITORS FACING DOUBLE WHAMMY OF KEEPING SAVINGS AND PAYING FOR BANK LOSSES
The savings of people deposited in banks form the capital of banks which banks lend to borrowers. Banks earn interest on the loans issued to borrowers. The cost of operating expenses including salaries comes from this...
DEPOSITORS PAYING THE PRICE OF CORPORATE BAD LOANS
The primary objective of nationalization of banks was to reach out to each and every last person of our society. The purpose was to provide credit facilities to poor and marginalized sections and free...
BANK CHARGES HURT POOR THE MOST
In the last few years, banks have begun foisting hefty charges on customers on all the banking transactions. While some of the charges existed before but the new charges have been introduced on very...
Snippets from the World of National Financial Institutions – August, 2019
Sovereign Debt: Liability in Perpetuity The announcement – made by Nirmala Sitharaman, Finance Minister of India in her maiden budget speech – that India will look for options to raise funds from external markets...
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