Congress Slams Government Over Rising Bank Charges
New Delhi: The Congress Party strongly opposed the recent permission granted to banks to increase ATM withdrawal fees. On Saturday, Congress accused the Modi government of turning banks into “collection agents” by imposing various charges on citizens.
Banks Collected ₹43,500 Crore from Customers
Congress president Mallikarjun Kharge alleged that the government has allowed banks to extract ₹43,500 crore from savings and Jan Dhan accounts due to non-maintenance of minimum balance between 2018 and 2024.
List of Bank Charges Burdening Citizens
Kharge highlighted several additional fees that banks impose:
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Inactivity fee: ₹100–₹200 per year
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Bank statement issuance fee: ₹50–₹100
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SMS alert charges: ₹20–₹25 per quarter
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Loan processing fees: 1%–3% of the loan amount
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Loan pre-closure charges: Applied even if paid on time
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NEFT & demand draft charges: Additional costs for transactions
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KYC update fees: Charged for changes like signature updates
Kharge condemned these charges, calling them an “unbridled loot” that adds to the financial burden on common people amid rising prices.
