Articles by: Shivani Dwivedi

Cartoon by K.P. Sasi

Banks Fraudulently Converted Jan Dhan Accounts into Regular Saving Accounts to Extract Bank Charges

Pradhan Mantri Jan Dhan Yojna (PMJDY) was launched in August 2014 by the Prime Minister Narendra Modi with the aim of providing banking facilities to the poor and to increase financial inclusion in the country. It aimed to open at least one basic banking account for every household and provide access to financial services such as savings and deposit accounts,[Read More…]

June 29, 2020 India
Cartoon by K.P Sasi

The Breach of Trust between Banks and their Customers

There are several factors which play an important role in determining the relationship between banks and their customers. One of the most important amongst them is what services banks provide and how they deliver it to their customers which can facilitate the best to their financial needs. Banks were nationalised with the objective of making banking available to everyone, especially[Read More…]

June 23, 2020 India
By K.P. Sasi

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…]

June 13, 2020 India
The Worst Affect of Bank Charges on Working Class

The Worst Affect of Bank Charges on Working Class

The massive bank charges introduced in past few years have greatly affected the financial state of marginalised working class. This was better understood when the team of FanIndia has talked to some people of working class who belong to the indigent sections of the society such as farmers, construction labours, aanganwadi workers, domestic workers, Cycle Rickshaw pullers, etc.  As their[Read More…]

June 5, 2020 India
Cartoon by K.P. Sasi

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…]

April 17, 2020 India
Cartoon By K.P.Sasi

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…]

April 10, 2020 India
Depositors Paying the Price of Corporate Bad Loans

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…]

April 3, 2020 India
Bank Charges Hurt Poor the Most!

Bank Charges Hurt Poor the Most!

In the last few years, banks have begun foisting hefty charges on customers on all the banking transactions. While some of the charges existed before but the new charges have been introduced on very basic everyday’s transactions. At present most banks even have charge on maintaining minimum balance, cash deposits and withdrawals at their branches and ATM’s, balance inquiry, SMS[Read More…]

March 21, 2020 India