Bank Employees for Consumers
Moneylife Digital Team 21 August 2017
The United Forum of Bank Unions (UFBU), representing 1 million employees, is going on a nationwide strike on 22 August 2017. Usually, bank employees strike work for emoluments-related issues. But, this time, the unions are also protesting against rising banking charges. “Banks are robbing Peter to pay Paul. Bank customers should not be penalised for corporate default and banks’ inability to recover those loans,” the bank employee unions say. Some of the unions are also signatories of a “Memorandum on Bank Charges” sent to the RBI governor and the finance ministry by Moneylife Foundation. 
 
UFBU says it is observed that the burden of the corporate non-performing assets (NPAs) is put on the shoulders of the common public and banking clientele in the form of hike in fees, charges and penalties for every type of normal banking service. Banks are also found to increase service charges in the name of GST. 
Comments
Ramesh Jaradhara
8 years ago
The common masses who supplied the capital are now penalized for the best reason that they have supplied capital to the corporate. The policy is same as the common masses voted the Govt to power in return to rob themselves by the Govt in the name of serving them. The corporate money is behind all the hell that broke loose on the masses. Who finance the elections? Corporate. The ministers of the Govt live a lavish life on the contribution of the corporate. Then why not the Govt give a respite to the credit ridden corporate? Obviously, the Govt will reciprocate!
VIMAL KUMAR
8 years ago
It is high time that everyone should act.not just bank employees.recently I made a complaint to AGM (CS) thiruananthapuram regarding a new law which state that "Customer has to come personally to bank counter to use the card swiping machine located inside office to withdraw cash .others has to use the ATM machine located outside ". A new method by SBI to extract extra charges because most of the old/sick people send their ward/relatives to withdraw cash for their needs. if they use ATM machine ,they can charge.
Akshay Kini
8 years ago
I think the best things the Bank Unions can do is come up with a Website to educate consumers on how SBI over charges and how to avoid paying the amount. The charges that SBI charges are so non-transparent. I want to be able to go to a site and look at all charges applicable to my account, this isn't possible.
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