High bank charges hurt voters, too

Both the govt and RBI have been ignoring high charges banks impose on their customers

High bank charges don’t affect the poor as they have access to Jan Dhan accounts with no charges

The recent campaign against an indiscriminate increase in bank charges and unfair loan pricing by banks has generated more than 200,000 signatures but has elicited very little response from either the Reserve Bank of India (RBI) or the government. This is mostly because the government is following the regulator’s lead in this regard of studiously ignoring the issue till enough pressure is built, and then, making some token concessions that do not solve the issue in any manner. Here is a gist of the arguments that the government must have heard about why this is an unimportant issue ...