The Banks are trying to reduce their expenditure at the cost of the customers. In order to reduce the staff in the Banks, they introduced ATMs and gave free transactions. Now the customers are adjusted to the ATMs to a great extent, then the Banks are trying to make the ATM transactions with conditions and cost. First there was no limit to the transactions, but then it was stated that there is a limit of five free transactions in Metro Cities and three in other places. Now the latest is that even in metros the limit may be reduced to three combining with the nearby non-metro cities.
If this goes on and is allowed, tomorrow each and every ATM transactions will be charged. The situation will come when the customer has to pay for withdrawing his own money from the bank even once.
It is to be noted that these are the same banks which has got lakhs of crores of rupees as NPA (Non Performing Assests), means bad loans given to the corporates and big business and which has not been repaid and will be written off later. The transactions of these crorepatis are mainly through cheque and online and not through ATMs;; hence they are not affected. It is being once again proved that all the benefits are for the rich and burdens are on the the poor and the middle class.
The present move of the Banks Management should be opposed and defeated.