Rs 5,000 cr snatched by banks in a year for not maintaining minimum balance

Agencies
August 6, 2018

New Delhi, Aug 6: Twenty-one public sector banks and three major private sector lenders collected ₹ 5,000 crore from customers as minimum balance penalty in financial year 2017-18, according to banking data. 

State Bank of India, which suffered a staggering net loss of ₹ 6,547 crore during 2017-18, led the pack in penalising its customers for not maintaining minimum balance. It accounted for nearly half the amount collected as minimum balance penalty.

After SBI, the largest amount of minimum balance penalty during 2017-18 was collected by HDFC Bank Ltd. It charged its customers ₹ 590.84 crore, which is lower than ₹ 619.39 crore in 2016-17, the data revealed.

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

SBI was charging the penalty on failure to maintain monthly average balance requirement till 2012 and re-introduced it on 1 April 2017 and reduced the charges with effect from 1 October 2017.

According to norms set by the Reserve Bank of India (RBI), banks are permitted to levy service/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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Agencies
February 26,2020

Kochi, Feb 26: Kerala High Court on Wednesday imposed a ban on strikes in schools and colleges that impact the functioning of the campuses.

''The functioning of campuses should not be hampered by the strikes. The colleges are for study, not for strikes. There should not be any march or gherao on campuses. Do not incite anyone for a strike," a bench of Justice PB Suresh Kumar said in its order.

"The order applies to schools and colleges. Do not harm the rights of others. The college can be a venue for peaceful discussions or thoughts. If actions are contrary to the orders of the court, the authorities can take action. They can call the police and restore peace," the order reads.

The Kerala High Court issued the order while hearing a petition filed by 20 educational institutions against campus politics.

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Agencies
February 27,2020

New Delhi, Feb 27: The US Commission on International Religious Freedom (USCIRF) has said that the Delhi violence in which over 30 people were killed, was specifically targeted against the Muslims.

Expressing "grave concern over the ongoing violence taking place in Delhi", the USCIRF in a statement said that as President Donald Trump's inaugural visit to India winds down, North-East Delhi has been rocked by deadly rioting, with reports of violence and mobs specifically targeting Muslims.

"These incidents are even more concerning in the context of efforts within India to target and potentially disenfranchise Muslims across the country, in clear violation of international human rights standards," USCIRF Commissioner Anurima Bhargava said.

"According to reports, several mosques have also been set alight or vandalized. Many Muslim residents have been forced to flee the area. This unrest comes in the wake of widespread protests against the Citizenship (Amendment) Act following its passage in December 2019.

"The brutal and unchecked violence growing across Delhi cannot continue," Bhargava said adding that the Indian government must take swift action to ensure the safety of all of its citizens.

"Instead, reports are mounting that the Delhi police have not intervened in violent attacks against Muslims, and the government is failing in its duty to protect its citizens."

USCIRF Chair Tony Perkins said the ongoing violence in Delhi and the reported "attacks against Muslims, their homes and shops, and their houses of worship are greatly disturbing".

One of the essential duties of any responsible government, he said, is to provide protection and physical security for its citizens, regardless of faith.

"We urge the Indian government to take serious efforts to protect Muslims and others targeted by mob violence."

In its annual report last year, the USCIRF classified India as a "Tier 2" country for engaging in or tolerating religious freedom violations that meet at least one of the elements of the "systematic, ongoing, egregious standard for designations as a "country of particular concern (CPC)", under the International Religious Freedom Act.

The ongoing violence in North-East Delhi erupted after clashes between pro and anti-CAA protesters on Sunday.

Besides the casualties, over 200 others have been injured in the deadliest violence in the national capital in decades.

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News Network
April 6,2020

New Delhi, Apr 6: With an increase of 490 cases in the last 12 hours, the total number of COVID-19 positive cases in India climbed to 4067, said Ministry of Health and Family Welfare on Monday.

As many as 109 deaths have been reported across the country due to the deadly disease.
There are 3666 active cases in the country while 292 people have been cured/discharged/migrated.

Maharashtra has reported the highest number of COVID-19 cases so far, standing at 690, followed by Tamil Nadu and Delhi with 571 and 503 cases respectively. 

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