Sunday, August 1, 2021
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Don’t levy service charges on senior citizens

All the service charges imposed by banks on senior citizens is imposing unnecessary burden on them. Why should any senior citizen having savings account with any nationalised, cooperative or private bank bear any service charge? These valued pillars of the nation should also not be ‘penalized’ for not keeping minimum balance. All banks should be instructed at once that the senior citizens should be allowed to keep even zero balance in their savings accounts. Banks have number of sources to increase their income by levying charges on current account holders, overdraft account holders and home and car loan borrowers. Prime Minister Narendra Modi and the Union Finance Minister Arun Jaitley must spare senior citizens, at least. They should also not be penalised for the usage of debit/credit cards.

Hansraj Bhat

(The views expressed by the author in the article are his/her own.)

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