Congress Criticizes Modi Government Over Rising ATM Charges

The Congress party criticized the Modi government following RBI's decision to allow banks to hike ATM withdrawal charges. Congress president Mallikarjun Kharge accused the government of turning banks into 'collection agents' for citizens' money through various fees, alleging a broader pattern of financial exploitation under BJP rule.

The Congress has launched a scathing attack on Prime Minister Narendra Modi's administration after the Reserve Bank of India (RBI) granted banks the authority to increase charges on ATM cash withdrawals.

Congress president Mallikarjun Kharge stated that banks have been transformed into 'collection agents' tasked with extracting citizens' money through exorbitant fees, a practice he describes as the BJP's 'mantra' of governance. According to Kharge, from 2018 to 2024, the government amassed a staggering Rs 43,500 crore from non-maintenance of minimum balance fees alone.

The list of charges includes inactivity fees, bank statement issuance fees, SMS alert charges, and loan processing fees. Kharge argues that loan pre-closure and KYC update fees further burden citizens, while lamenting the discontinuation of reporting these amounts in Parliament under the pretext of RBI data limitations.

(With inputs from agencies.)