Banks collect Rs 5000 cr for breaching min balance

Agencies

August 5, 2018

New Delhi, Aug 5: As many as 21 public sector banks and three major private sector lenders collected a whopping Rs 5,000 crore from customers for non-maintenance of minimum balance in their accounts in 2017-18, according to banking data.

India's largest lender State Bank of India, which suffered a staggering net loss of Rs 6,547 crore during 2017-18, led the pack in penalising its customers for not maintaining minimum account balance.

SBI, which reintroduced the penalty on deposits going below monthly average balance basis from April 2017, collected nearly half the amount raised by the 24 banks put together (Rs 4,989.55 crore).

But for the additional income of Rs 2,433.87 crore under this head, SBI's losses would have soared further.

After SBI, the largest amount of charges for not maintaining minimum balance during 2017-18 was collected by HDFC Bank. It charged its customers Rs 590.84 crore, which is lower than Rs 619.39 crore in 2016-17, the data revealed.

Axis Bank collected Rs 530.12 crore in the last fiscal while ICICI Bank charged Rs 317.6 crore.

SBI was charging the penalty on failure to maintain monthly average balance requirement till 2012 and again re-introduced it from April 1, 2017.

Following the criticism, SBI reduced charges with effect from October 1, 2017.

According to the RBI norms, banks are permitted to levy sevice/miscellaneous charges.

Customers opening accounts under Basic Savings Bank Deposit (BSBD) scheme as well as Pradhan Mantri Jan Dhan Yojna are not required to maintain any minimum balance.

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Modi, Shah creating Hindu-Muslim conflict, says Kanhaiya Kumar

News Network

January 29,2020

Aurangabad, Jan 29: Accusing Prime Minister Narendra Modi and Union Home Minister Amit Shah of creating a conflict between Hindu and Muslim communities in the country, former JNU student leader Kanhaiya Kumar has said the Citizenship (Amendment) Act (CAA) was adding fuel to the fire.

He was speaking at a rally held on Tuesday at Pathri in Parbhani district of Maharashtra against the CAA and the National Register of Citizens (NRC). It was organised by NCP MLC Abdullah Durrani.

"Modi and Shah used to create conflicts between Hindus and Muslims during the Gujarat elections. Now they are adopting the same strategy in the country," Kumar alleged.

Citizens should keep the religious conflicts aside and question the present government about unemployment and the poor state of the economy, he said.

"Through the CAA, the government is adding fuel to the fire, which is already raging in the country," he alleged.

When anyone questions the government about the problems existing in the country, it in turn asks him about his citizenship, the former JNUSU leader alleged.

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I and B Minister Prakash Javadekar condemns alleged attack on Arnab Goswami

News Network

April 23,2020

New Delhi, Apr 23: Union Information and Broadcasting Minister, Prakash Javadekar, on Thursday condemned the attack on Republic TV editor-in-chief Arnab Goswami saying that this is "against democracy".

"We condemn the attempt to attack renowned journalist Arnab Goswami. Essentially, we condemn every attack on any journalist. Because this is against democracy," the Union Minister said.

"It is really ironical that those who preach tolerance have become so intolerant. Therefore, we condemn this attempt. We appeal to the collective wisdom that this is undemocratic. As per present law, definitely, police takes action, if there is a complaint," said Javadekar.

Two persons were arrested on Thursday morning for allegedly attacking Republic TV editor-in-chief Arnab Goswami and his wife Samyabrata Ray in Mumbai.

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Javedkar is blind not to accept Arnab's venomous statement in deciding the nation. He is another shameless

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'This is not a drill': WHO urges world to take virus more seriously

News Network

March 6,2020

Beijing, Mar 6: World health officials have warned that countries are not taking the coronavirus crisis seriously enough, as outbreaks surged across Europe and in the United States where medical workers sounded warnings over a "disturbing" lack of hospital preparedness.

The World Health Organization warned Thursday that a "long list" of countries were not showing "the level of political commitment" needed to "match the level of the threat we all face".

"This is not a drill," WHO chief Tedros Adhanom Ghebreyesus told reporters.

"This epidemic is a threat for every country, rich and poor."

Tedros called on the heads of government in every country to take charge of the response and "coordinate all sectors", rather than leaving it to health ministries.

What is needed, he said, is "aggressive preparedness."

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