[Resolved]  SBI & RBI (India) — turning Blind eye to exorbitant charges by Nationalised and Private banks

Address:

Bangalore, Karnataka

I think SBI is being unfair to customer by charging for deposits in Non home branch.
do they expect that a person travels 5-10 km just to deposit cash in home branch and create more traffic, pollution etc. After all it is the Information technology (core banking) which gives this features and why should then try to make money in every thing.
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Why is RBI doing nothing about the following atrocities of bank ?
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a) Many MNC banks have started charging Rs.500 per month if the balance is below 25000. How can this be allowed ? Rs. 50/75 is kind of acceptable but rs 500 is ridiculous

b) The interest rate charged by almost all credit card by bank is almost 40~50 % per annum, how can this be allowed and why is RBI keeping quite ? this is three times higher than a normal pawn broker rate of interest . On one side the govt discourages taking loan from local pawn brokers and on other side they loot in form of Credit card. When thy offer only 5-6 % per annum for FD below 365 days how can they allow interest rate of 45 to 50 % on credit card ?

c) I noticed that from 1st April even EFT and RTGS transaction are charged rs.5 per transaction. Why does the RBI not consult the civil society members before framing the charges, after all in Democracy it is by /for / with the people, why does RBI follow autocratic approach and things itself above the people.