State Bank of India looted Rs 1000 crores of farmers

 23 Feb 2018 ( Perwez Anwer, MD & CEO, IBTN GROUP )
POSTER

There is another case of looting customers by SBI, India's largest bank. The fear is that the bank looted a thousand crore rupees to the farmers.

According to a report printed in Madhya Pradesh's newspaper 'Nai Duniya', SBI is cutting 990 rupees from the farmer's account in lieu of the weather situation. Whereas, the central government of India is already providing season information to farmers in free on toll free number.

Before that, SBI has received considerable criticism for recovering big money from the account holders in the name of Low Balance.

On the basis of the plight of Vidisha farmer Hazarilal Sharma in Madhya Pradesh, the newspaper has published the report. This message came from the bank on Sharma's mobile phone that 990 rupees have been deducted from the account in lieu of weather news alert. The farmer complained to the bank management, but the money was not returned.

According to the report, B S Baghel, branch manager of SBI, situated in Steran of Vidisha accepted that without informing the farmers, the money is being cut from the account. He says that this money is deducted from Mumbai's main branch.

However Jitendra Sharma, Chief General Manager, SBI's Agricultural Branch, says that the amount deducted from the consent of the farmers by filing an agreement.

Recovery of Rs 990 on the name of weather alert is being done from the account holders of Kisan Credit Card. According to the SBI website, there are over one crore one lakh farmers credit card holders all over the country. If all these 990 rupees have been recovered, the total amount is Rs 999.90 crores.

Although it is not clear whether money is being levied by all the farmers or only those farmers who have agreed for this facility. By the way, the bank without consent can not charge fees for any such facility. It may also be possible that farmers have unknowingly ticked the relevant column on the form and agreed to it.

State Bank of India has signed an agreement with RML to provide weather alerts. This facility is available to customers of 500 SBI branches of 16 states.

But the question arises that the farmers are getting free information of the weather beforehand. This feature can be taken for free by dialing 1800-180-1551.

 

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