Manickam Tagore Opposes Proposed Charges on Jan Dhan Account Withdrawals
· India · The Hindu, LiveMint
TNCC president B. Manickam Tagore has demanded the withdrawal of proposed fees on basic savings account transactions. Banks reportedly plan to levy a penalty of ₹15 plus 18% GST on withdrawals exceeding four times a month, effective October 1. The Congress MP stated that the State Bank of India has already announced the charge, which will total ₹17.70 per transaction. Tagore alleged that the Reserve Bank of India approved the move and warned that other banks may follow suit. He further claimed the policy could discourage digital adoption among citizens with limited access to internet or electricity.
Why it matters
The proposed charges impact approximately 56 crore Jan Dhan account holders, primarily low-income individuals who rely on these basic banking services for their daily financial needs.
Read the original report — The Hindu
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