4th July #TweetMorcha to escalate campaign against unfair bank charges with #BankSeBachao as the tag

Moneylife Digital Team 30 June 2017

Economy & Nation

The campaign against unfair bank charges that was started in March this year by a group of activists, will be escalated further with a unique #TweetMorcha addressing the Prime Minister’s twitter handle @narendramodi on 4th July at 3 pm.

This unique #TweetMorcha will bring together people on social media from across the country aggrieved by high bank charges, unfair loan agreements and unsafe digital transactions. Those wanting to join the campaign should tweet the Prime Minister tagging his twitter handle -- @narendramodi -- and air their views with the hashtags #TweetMorcha #BankSeBachao. A core group will launch the campaign in the mini auditorium of Ravindra Natya Mandir at Prabhadevi, Mumbai, on that day to launch the campaign. Mumbaikars are requested to come join the campaign that day.

An online petition on change.org, started by a group of consumer activists, bank unions and consumer citizens, led by Moneylife Foundation, got a boost with Mumbai Congress Chief Sanjay Nirupam joining the effort and helping the group take the issue to the Standing Committee of Parliament for finance and supporting the TweetMorcha.

The extent of public anger and frustration about rising bank charges, rampant mis-selling of financial products (especially insurance) and unfair loan agreements is evident from the massive 2,14,000 signatories to a petition titled “RBI Governor: Please Stop Banks Fleecing us Depositors!” on www.change.org The impact of the petition is evident from a series of statements by the RBI in favour of the consumers, which, however, fall far short of what is required.

The change.org petition follows a memorandum sent to the RBI Governor by a group of consumer activists (Moneylife Foundation, All India Bank Depositors Association, Mumbai Grahak Panchayat, Rashtriya Matadata Manch, Police Reforms Watch, Public Concern for Governance Trust), bank unions (All India Bank Employees Association-AIBEA, Central Bank Employees Union-CBEU and New Trade Union Initiative-NTUI), finance experts such as Dhirendra Kumar, Harsh Roongta, RN Bhaskar, Debashis Basu, Yogesh Sapkale, Mahua Ghosh, Advocate Bapoo Malcolm, Shubha Khandekar and others. While the RBI has not bothered to respond so far, the petition has found widespread support from people across the spectrum.

Comments

User

Ramesh Bajaj

9 years ago

Great, much needed move. I am not familiar with twitter. Is it possible for you to set up a link so that I can participate . In the ' morcha'

Sucheta Dalal

Replied to Ramesh Bajaj comment 9 years ago

Dear Mr Bajaj. we look forward to your participation. You dont need a link. All you need to do is to open a twitter account. at twitter.com it will take less than a minute. then you choose what you would like to say to the PM by typing @narendramodi and dont forget to use the hashtags "#" sign with the following words without a space #TweetMorcha and #BankSeBachao this will ensure all the tweets and noted and counted. If you have signed a petition with change.org you will get an auto prompt on tuesday Otherwise. please do go to this link and sign my petiton. Earnest request :https://www.change.org/p/governor-rbi-finance-ministry-stop-banks-fleecing-depositors/u/20458223

Dayananda

9 years ago

Inspire of Usurioius loan act credit card dues are charged interest at40% further for same transaction they get another 18% from merchants. Even though this charge is interest and interest on all other cases does not attract service tax but they charge service tax on this charge which is illegal and to boot govt has increased the service tax to 18% from 15%