Sate Bank has managed to make around 1771 crores only in between April and November 2017. These amounts have been recovered through those accounts having less than minimum balance. The data presented above is as per the Finance department of India. Minimal balance assigned by SBI for rural sectors is 3000 INR, and that for urban sectors is 5,000 INR.
SBI has recovered around 1581 crore in between July and September. It means the amount is more than the second tri-monthly of the year. There are 42 crore additional amounts in SBI. 13 crores from them have been recovered through penalties. Point to be noted here is that SBI recovered these amounts even during the tough financial days. Most of the accounts opened through Jan-Dhan and others in recent times failing to maintain the minimal amounts can be surely claimed to be going through tough financial times.
Why such adamant?
Now the question is- why SBI became such aggressive in recovering these amounts. One of the foremost reasons behind this can be claimed
as the burden of NPIs. The state of other banks can be clearly imagined, if this is the case of SBI. It’s unfortunate that these banks are failing to recover amounts from those who have escaped after taking millions of loans. In clear words, a common man has to payback for the frauds. Strange is to see that none of the opposition is raising this issue. Why? Reason is simple; none of the political party wants to dissatisfy its prime financial contributors, the business tycoons, or the loan takers.
Same is the case for every bank!
Not just SBI, every bank is behaving such ruthless when it comes about recovering amounts. Punjab National Bank, one of the leading banks too has recovered around 98 crores in such aggressive fashion. Central bank has recovered around 69 crore, and Canara bank has managed around 63 crores. The fines or penalties are being collected simply because of insufficient amounts in bank accounts. Why would someone keep lesser than lowest amount in his bank account, especially in a scenario where digital transaction is priority? Undoubtedly it’s because of poverty. Is it fare to put burdens in such a adamant and stubborn way? It’s even unfortunate that the oppositions like Indian National Congress, Aam Admi Party, etc, are quite busy in luring the vote banks. Rahul Gandhi can never understand these facts. He neither raised during Gujarat elections, neither he will in upcoming Karnataka election.
In such scenario, it’s quite obvious that the situation of this huge nation is hardly going to be changed, no matter which party is there in the centre. Nothing is going to change except the party, party’s logo, and the names. Same issues will be presented in different ways, targeting your weak sentiments. And, the real issues as of above will always be under the wraps as explained above. Well, sorry for making you even more confused on whom to choose for the upcoming election.