30/05/2020
Banks providing free services to THE RICH and penalising THE POOR.
This biased treatment is being done on the basis of the bank account balance.
If the account balance is higher than a certain amount (Rs25,000 and above, varies from bank to bank), account holders are given privileges of FREE services and NO charges.
A bundle of banking services is provided free of cost to them.(Oh, I see... including the liberty to run away without repaying loans???).They don’t need to pay and there is no limit or restrictions on number of transactions like cash transactions at branches, ATM transactions and various other services. (WTF...they don't need to pay for the entire s**t which we are asked to pay!!!).
But majority of bank customers belong to the middle and low-income households with monthly income even less than 25,000.(Yes...that's me and you) Its impossible for people to maintain huge sums of money as minimum balance, given their financial commitments. To fine for not having minimum balance, is effectively punishing people for being poor.
Similarly, banks are charging people for using bank branches (after a certain number of deposit and withdrawals).
This will particularly affect old people, pensioners and those who do not
have no knowledge of or access to technology. It would also affect
the rural and semi urban people, where infrastructure for internet
connection is less.
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