Modi Govt Made Banks Collection Agents to Loot People: Kharge
In a scathing attack on the Narendra Modi-led central government, Congress chief Mallikarjun Kharge has accused the regime of using banks as “collection agents” to “loot” citizens. The harsh criticism comes on the heels of the Reserve Bank of India’s (RBI) decision to allow banks to increase charges on ATM cash withdrawals.
Kharge’s remarks are not without basis. The Modi government has been criticized for its policies that have led to a significant increase in charges and fees imposed on bank customers. One of the most contentious issues is the non-maintenance of minimum balance in savings accounts and Jan Dhan accounts.
According to Kharge, the government has extracted at least ₹43,500 crore from citizens due to non-maintenance of minimum balance from savings accounts and Jan Dhan accounts between 2018 and 2024. This staggering figure is a testament to the government’s alleged exploitation of its citizens.
Kharge’s comments are a reflection of the growing discontent among citizens who are being forced to bear the brunt of the government’s policies. The increasing charges and fees imposed by banks have made it difficult for people to access their hard-earned money, leading to widespread resentment.
The Modi government’s decision to allow banks to increase charges on ATM cash withdrawals is the latest in a series of moves that have been criticized by opposition parties and citizens alike. The RBI’s decision to give banks the freedom to set their own charges on ATM cash withdrawals has been seen as a way to increase revenue for banks, but it has also led to an increase in the cost of living for citizens.
The move has been particularly harsh on low-income earners and senior citizens who are forced to rely on cash withdrawals for their daily expenses. The increasing charges and fees imposed by banks have made it difficult for these individuals to access their money, leading to a sense of financial insecurity.
Kharge’s criticism of the Modi government’s policies is not limited to the issue of non-maintenance of minimum balance in savings accounts and Jan Dhan accounts. He has also accused the government of imposing a slew of taxes and charges on citizens, including the Goods and Services Tax (GST) and the National Pension System (NPS).
The GST, which was introduced in 2017, has been criticized for its complexity and the burden it has placed on small businesses and individuals. The tax, which was touted as a way to simplify the tax structure, has instead created confusion and has led to a significant increase in the cost of living.
The NPS, which was introduced in 2004, has also been criticized for its complexity and the burden it has placed on citizens. The scheme, which was introduced as a way to provide a pension to citizens, has instead created confusion and has led to a significant increase in the cost of living.
Kharge’s criticism of the Modi government’s policies is not limited to the issue of taxes and charges. He has also accused the government of failing to provide adequate healthcare and education facilities to citizens. The government’s failure to provide adequate healthcare facilities has led to a significant increase in the cost of healthcare, making it difficult for citizens to access medical care.
The government’s failure to provide adequate education facilities has also led to a significant increase in the cost of education, making it difficult for citizens to access quality education.
In conclusion, Kharge’s criticism of the Modi government’s policies is not without basis. The government’s decision to allow banks to increase charges on ATM cash withdrawals and its failure to provide adequate healthcare and education facilities are just a few examples of its alleged exploitation of citizens.
The government’s policies have led to a significant increase in the cost of living, making it difficult for citizens to access their hard-earned money. The increasing charges and fees imposed by banks have also led to a sense of financial insecurity among citizens.
It is high time that the government takes a critical look at its policies and makes amends for the harm it has caused to its citizens. The government must take steps to reduce the cost of living and provide adequate healthcare and education facilities to citizens.
