The Live Nagpur
  • Nagpur City
  • Nagpur Education
  • Nagpur Sports
  • Business
  • Featured
  • Crime
  • Entertainment & Lifestyle
  • Health & Wellness
  • Nation
  • Politics
  • Trending
  • Vidarbha
  • Obituary

The Live Nagpur

  • Home
  • City
  • Politics
  • Business
  • Education
  • Entertainment
  • Sports
  • Health
  • Crime
  • Forest
  • Featured
  • Vidarbha
Business

VTA urges govt to regulate cash handling charges by banks

by TLN Team November 2, 2020November 2, 2020
written by TLN Team November 2, 2020November 2, 2020
VTA urges govt to regulate cash handling charges by banks

Vidarbha Taxpayers Association(VTA) has observed that various banks have started charging customers for their basic fundamental duties, including handling of cash like withdrawal and deposit too. Although ,initially for few transactions there is no charge, however once the limit is over, banks would charge which culminates to considerable amount every month especially on traders’ accounts. In view of this VTA sent a memorandum to the Prime Minister Narendra Modi, Union Finance Minister Nirmala Sitharaman and RBI governor. The president of VTA Shrawankumar Malu stated that most worrisome part of this situation is that the customer is absolutely unaware of charges being debited to his/her account. It’s only after the bank statement is obtained that the clients get to know about the total amount levied by the bank.

There are numerous small and medium traders and retailers selling products and services in cash including cinema halls, petrol pumps, medical stores and likewise which need to deposit the cash almost daily and if such charges are levied by banks on them it becomes absolutely illogical and illegitimate. Likewise maintaining minimum balance by minimum wage earner or similar salaried person is almost impossible. Secretary of VTA Tejinder Singh Renu said although such policy by banks may be supporting ‘Less Cash Policy ‘of the government including Covid-19 pandemic situation, yet it should not violate Constitutional Right of the Citizens as per Article 19(1)(g) to practice any profession or carry on any occupation. Account holders are never informed about the charges they debit to the respective clients although traders and businessmen get to know about the same while preparing their accounts and what about senior citizens.Renu opined.

0 comment
FacebookTwitterLinkedin
TLN Team

previous post
After a long wait, Vice Chancellor appoints deans in RTMNU
next post
Baba Ka Dhaba owner files complaint against YouTuber

You may also like

New Tax Regime will also be preferred tax...

February 3, 2023

VIA LEW organized LEW HANDLOOM FASHION SHOW

February 3, 2023

VIA organises Session on “Analysis of Tax Proposals...

February 2, 2023

Adani group call off FPO, says investors interest...

February 2, 2023

Annual gold demand soars to a new decade...

February 1, 2023

More power to women in  Budget-23 -Dr Priyal...

February 1, 2023

Following comment  attributable to Mr Abheek Barua, Chief...

February 1, 2023

Post Union Budget 2023 views by industrialist &...

February 1, 2023

Budget -23  is a growth-oriented, visionary budget–CA Julfesh  Shah

February 1, 2023

MAJOR TAKEAWAY FROM BUDGET SPEECH 2023: CA Sachin...

February 1, 2023

Trending News

  • OLD TAX REGIME AND NEW TAX REGIME; EXPLAINED

    February 3, 2023
  • Watch spectators tease Shubham Gill ‘Hamari Bhabhi Kaisi Ho, Sara Bhabhi Jaisi Ho,’ During IND vs NZ 3rd ODI 2023 in Indore

    January 25, 2023
  • New rule for social media influencers, check below

    January 20, 2023
  • Ind vs NZ: Shubman Gill becomes youngest player to hit ODI double century

    January 18, 2023
  • 91 companies lays off more than 24,000 tech employees 

    January 16, 2023

Important Links

  • Politics
  • Crime
  • Business
  • Education
  • Entertainment
  • Sports

Available on Playstore & Coming Soon on Appstore

Search

November 2020
M T W T F S S
« Oct   Dec »
 1
2345678
9101112131415
16171819202122
23242526272829
30  

Sign-Up Form

Subscribe my Newsletter for new blog posts, tips & new photos. Let's stay updated!

Footer Logo
  • Nagpur City
  • Nagpur Education
  • Nagpur Sports
  • Business
  • Featured
  • Crime
  • Entertainment & Lifestyle
  • Health & Wellness
  • Nation
  • Politics
  • Trending
  • Vidarbha
  • Obituary
  • Privacy Policy
  • Cookie Policy
  • Terms Of Use
  • Advertise with Us

© 2020 - The Live Nagpur . All Rights Reserved.