The Government has rightly decided to popularise Net banking in order to minimise cash transactions.

The idea is laudable, as it will motivate all, particularly limited income group. But if the government is serious in its intention in needs to remove a few hitches which is hampering this process.

Keeping above in mind I draw your attention towards two important charges being collected by bank against net banking despite Government’s call as stated above.

Banks are collecting net banking charges, not only for paying school fees, amount transfer from one bank to one’s own bank account with another bank etc. Banks are also charges or issuing OTP even from senior citizens, widows, rural area residents, students etc. who falls under low income group which is not only surprising but pinching too.

The government should make  Savings a/c whether Senior Citizen  OR  Sabka Basic Savings OR Jandhan a/c etc. – free of OTP charges. OTP should be always a part of Mandatory SMS and there should not be any charge for Net Banking otherwise despite efforts – charges will force a/c holders to follow cash transaction . Net banking cannot take off.

In nutshell moving to net banking has actually become expensive, as against the cash process. Hence The government should direct the banks not to charge without application of mind to the needs of the economically weak section.

Moreover RBI could use its executive and advisory powers to bring about these charges.

I trust readers in their own interest will take this seriously and arrange to bring above facts in the knowledge of Government keeping in mind that this is important in Making our Indian Society Cashless.

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January 2021