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.
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