Raghav Chadha Urges End to Minimum Balance Penalties in Banking System

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Raghav Chadha Urges End to Minimum Balance Penalties, Cites Rs 19,000 Cr Collection

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News18•18-03-2026, 01:30

Raghav Chadha Urges End to Minimum Balance Penalties, Cites Rs 19,000 Cr Collection

•AAP leader Raghav Chadha called for an end to minimum balance penalties charged by banks.
•Banks collected Rs 19,000 crore in the last three years from customers for not maintaining minimum account balances.
•Chadha termed these penalties as “legalized pickpocketing” affecting the poorest account holders.
•He highlighted how farmers, pensioners, and daily wage workers are penalized for small shortfalls.
•Chadha advocated for a more “humane” financial system and proposed practical reforms in Parliament.

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