Banks Impose Minimum Balance Fees on 'Majhi Ladki Bahin Scheme' Payouts

In some cases, banks have even started deducting penalties or loan recoveries from joint accounts held with husbands or parents.
Seema Sawale, Former Standing Committee Chairperson, PCMC
Seema Sawale, Former Standing Committee Chairperson, PCMC
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Pune: The state government's 'Mukhyamantri Majhi Ladki Bahin Yojana' scheme has begun depositing funds into women's accounts, causing a surge at post offices and banks as women rush to access their money.

However, disappointment has struck many, as banks have started deducting penalties from the funds under the guise of maintaining a minimum balance.

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In Pimpri-Chinchwad, women were shocked to find that the Rs. 3,000 credited to their accounts under the scheme had disappeared, leaving them with little to nothing.

Former Standing Committee Chairperson of PCMC, Seema Sawale, has called on the Chief Minister to immediately halt these deductions and refund the amounts to the affected women. She warned that failure to do so could lead to strong protests against the banks.

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In some cases, banks have even started deducting penalties or loan recoveries from joint accounts held with husbands or parents.

Seema Sawale further added, "A shocking report has recently surfaced, revealing that public sector banks have collected a staggering Rs. 8,495 crore in penalties from customers for not maintaining a minimum balance over the last five years."

"I request the Chief Minister to issue immediate orders to stop the deductions made by banks from the amounts received under the Ladki Bahin scheme under the pretext of maintaining a minimum balance. Women who have faced such deductions should contact me," urged Seema Sawale.

She also warned that if banks continue to impose penalties or recover loans from the amounts received under the Ladki Bahin scheme or from joint accounts held with husbands or parents, there will be strong protests against these banks.

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