Increase in ATM Charges and RBI Actions and Inactions
From the first of May, the Reserve Bank of India (RBI) has permitted the banks, an increase in the charges for ATM transactions above a free limit. The free limit is 5 transactions in...
The Banking Sector Reveals the Middle Classes Aren’t Really Getting a ‘Bonanza’
There is a euphoria around the “tax bonanza” offered to the middle classes in this year’s Budget. The proposal of no tax for those with annual income up to Rs 12 lakh has been...
Where is My Interest Rate? | Unlocking banking for the people (Volume 1)
“What really was new was the trick of claiming Neo liberalism stripped away rules when much of what it was doing was imposing new rules that favoured banks and the wealthy. For instance, the...
Interest Rates in Banks – Where the rich pay less than the rest!
The Reserve Bank of India has been announcing repo-rate hikes for some time. While most of the commoners don’t understand what that means but know that it is spiking their EMI. They are told...
Random reflections- Is Reducing Deposit Interest Rate Right?
The government of India has reduced deposit interest rates drastically in addition to the banks which have been reducing the rates in tune with reduction of repo rates by the RBI. (Repo rate is...