The Congress on Saturday criticized the Modi government after the RBI’s decision to allow banks to increase charges on ATM cash withdrawals, and said banks have been reduced to “collection agents” to “loot” citizens. The Congress president Mallikarjun Kharge severely criticized the government for allowing banks to charge more ATM fees from customers.
Recently, Banks have increased the fees on cash withdrawals from ATM. Now Banks will charge up to ₹23 per transaction starting May 1, 2025. This marks a ₹2 increase from the current fee of ₹21 per transaction. Click here to check new ATM Charges. Congress president Mallikarjun Kharge criticized government on social media platform X (Twitter). He said 👇
Our Banks have been unfortunately made ‘Collection Agents’ by the Modi Govt !
ATM Withdrawal Charges to be costlier.
Modi Govt has extracted at least ₹43,500 Cr due to non-maintenance of Minimum Balance from Savings Accounts & Jan Dhan Accounts combined, between 2018 and 2024.
Other Bank charges to LOOT citizens –
▫️An inactivity fee, which is ₹100-200 every year.
▫️Bank statement issuance fee is ₹50-100.
▫️ ₹20-25 per quarter is charged for SMS alerts.
▫️Banks charge 1-3% as loan processing fees.
▫️If loan is paid on time, then loan pre-closure charges are levied.
▫️NEFT, Demand Draft charges are additional burden.
▫️KYC updates like signature changes also attract fee.
Earlier, the Union Govt used to provide the data of amount collected by these charges in the Parliament, but now this practice has also been discontinued by saying “RBI doesn’t maintain such data”.
Painful Price Rise + Unbridled Loot = BJP’s Mantra for Extortion!
