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Minimum Bank Balance Penalty : Aam Aadmi Party MP Raghav Chadha is continuously raising issues to the public in the Parliament. In this series, Chadha has proposed to abolish the penalty imposed by banks for not maintaining minimum balance in bank accounts. “Banks have recovered Rs 19,000 crore in the last three years just for not maintaining ‘minimum account balance’,” Chadha said in the Rajya Sabha.

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Aam Aadmi Party MP Raghav Chadha said in Parliament that “In the last three years, banks have been fined only for not maintaining minimum account balance. ₹19,000 crore Have recovered. According to the data given in Lok Sabha, public sector banks has almost ₹8,000 crore And private sector banks has almost Rs 11,000 crore This has been recovered as penalty. This is injustice to the poor, daily wage laborers and small account holders who are unable to maintain the minimum balance. poverty is being punished. I propose to completely eliminate the minimum account balance penalty.”

While sharing the video on Neither from the rich, nor from big debtors. But rather from the poorest accounts of the banking system. What was his crime? He had less money. If a farmer is unable to maintain minimum balance – fine. If a pensioner withdraws money for medicine – fine. If a daily wage laborer’s account is short by a few hundred rupees – a fine.”

Chadha further wrote, “Poor people keep money in banks for their own security. Not so that they can be secretly penalized for being poor. The aim of financial inclusion should be to protect small savings, not to punish those with low balance. Today in Parliament, I proposed to abolish the penalty on minimum balance, so that the banking system stops charging money from people in the name of their poverty.”

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