cartoons

Bank Charges Exhausting Covid-19 Relief Fund

On 24th March, 2020, the Prime Minister of India has declared the nationwide lockdown due to global widespread of Covid 19. As a result, the entire businesses, works, and economy have shut down leading to enormous losses of jobs and livelihood. Consequently thousands of daily wage labours from different states (mainly big urban cities) have started migrating back to their[Read More...]

Banks levy numerous charges on customers for services

Co-Written by Shivani Dwivedi & Ashish Kajla All the banks, especially the public sector banks have a moral obligation and social responsibility of promoting financial inclusion and social welfare. The banks run on the deposits and when a bank sinks, depositors lose their savings. Therefore, deposit holders have a right to the common and basic banking services for free of[Read More...]

Depositors facing double whammy of keeping savings and paying for bank losses

Co-Written by Shivani Dwivedi & Ashish Kajla The savings of people deposited in banks form the capital of banks which banks lend to borrowers. Banks earn interest on the loans issued to borrowers. The cost of operating expenses including salaries comes from this interest on the loans issued by banks. The saving account depositors receive interest on their savings, and[Read More...]

Depositors Paying the Price of Corporate Bad Loans

Co-Written by Ashish Kajla & Shivani Dwivedi   The primary objective of nationalization of banks was to reach out to each and every last person of our society. The purpose was to provide credit facilities to poor and marginalized sections and free them from the clutches of moneylenders. Banks were to provide credit to small and medium businesses. But with[Read More...]