A study by IIT-Bombay has revealed that many banks, including the country’s largest government bank, State Bank of India (SBI), ask poor people for some service on zero balance accounts or basic savings bank deposit accounts (BSBDA). Recovering more charges. According to an IIT Bombay study, SBI alone has earned Rs 300 crore as service charge during these five years from 2015 to 2020.
The IIT-Bombay study says that SBI has decided to impose a charge of Rs 17.70 on every transaction after four on BSBD account holders, which cannot be considered fair. The report said that during 2015-20, SBI recovered more than Rs 300 crore by imposing service charges on 12 crore BSBD account holders. The number of BSBD account holders of Punjab National Bank, the second largest government bank in the country, is 3.9 crore. The bank has recovered Rs 9.9 crore from these account holders during this period.
Explain that under the Pradhan Mantri Jan Dhan Yojana, zero balance accounts were opened across the country. According to IIT-Bombay data, SBI has about 12 crore zero balance accounts in different branches. The collection of deduction made as service charge from these accounts is beyond 300 crores. This figure has come in the last 5 years.
The IIT Bombay report states that there is a systematic violation of RBI regulations by some banks on BSBDA. The name of SBI comes first among them. SBI is charging Rs 17.70 on every transaction after four transactions a month.
IIT-Bombay professor Ashish Das said that through this service charges, SBI has raised Rs 300 crore from about 12 crore BSBD account holders. Out of this, in the year 2018-19 alone 72 crore rupees have been recovered. After this, 158 crore rupees have been recovered in 2019-20.
As per the regulatory requirements in the provisions of BSBDA, it is clarified that as long as the savings deposit account is BSBDA, no charge can be levied on the bank for any service charges or value added services offered by the bank on a discretionary basis. . It states that the Reserve Bank considers more than four withdrawals in a month as Value Added Services.
For social media updates, we need Facebook (https://www.facebook.com/moneycontrolhindi/) And Twitter (.).