Digital dacoits: Stalin on banks under Modi
Stalin criticized the enormity of fines collected by banks for breaching low minimum balance norms
Tamil Nadu Chief Minister M K Stalin (File)
CHENNAI: Chief Minister MK Stalin on Thursday came down heavily on the "enormous" penal charges levied for non-maintenance of minimum balance in ordinary savings bank accounts and termed the fine as “digital dacoity” in Prime Minister Narendra Modi’s New India.
Posting a newspaper report pointing to banks collecting a whopping Rs 21,000 crore from customers for breaching the minimum balance norm, Stalin said the Modi-led regime, which snatched away even the minimum cash savings from the purses of the people, has appropriated Rs 21,000 crore from the poor in the name of imposing a fine for not maintaining the minimum balance.
Pointing out that the Centre waived several lakhs of crores of corporate loans and reduced corporate tax from 30 to 22%, Stalin, in a message posted on ‘X’ said, “Shall we allow such a merciless government, which generously offers tax concessions running into several lakhs of crores to corporates every year, to engage in digital dacoity and plunder the poor?”
Accusing the PM of lying that his government was not for the rich and crorepatis but only the poor, the CM cited the Rs 21,000 crore minimum balance fine and wondered, “Is this the government that protects the welfare of the poor.”
Minutes after the DMK leader raised the issue, the DMK MLAs and Congress functionaries joined the chorus and alleged that the Centre was helping the banks to raise several crores by collecting money for ATM transactions and SMS messages sent to the customers. “Not many are aware that the bank collects hidden charges for providing SMS service and ATM transactions beyond the fixed limit. We will take up such anti-public and anti-customer policies adopted by the banks which are assisted and aided by Union Finance Minister Nirmala Sitharaman,” said Egmore MLA I Paranthaman.
“Former finance minister and Congress leader P Chidambaram have been mentioning the hidden charges,” said Congress trade union functionary V Sathiabalan. The party will circulate these details among voters to create awareness, he added.
THE 'LOOT' SO FAR
Rs 21,044 cr -- Collected for non-maintenance of minimum balance
Rs 8,289 cr -- Collected in fine for additional ATM transactions
Rs 6,254 cr -- Collected from customers for providing SMS services
Source: Rajya Sabha
