RBI allowing banks to charge for ATM withdrawals "institutionalised extraction," alleges Stalin
Chennai (PTI): Tamil Nadu Chief Minister M K Stalin on Sunday flayed the RBI's decision allowing banks to charge for ATM withdrawals beyond the monthly limit and said this will make people withdraw more than they need and alleged "this is not digitisation, it is institutionalised extraction."
Stalin said that the union government urged everyone to open bank accounts and then came demonetisation, pitching digital India. In a social media post, he said: "What followed? Charges on digital transactions, penalties for low balances and now the RBI has allowed banks to charge up to Rs 23 for ATM withdrawals beyond the monthly limit. This will make people withdraw more than they need and in particular, negate the objectives of financial inclusion of the poor.
Beneficiaries of MNREGA, which is already starved of funds and the poor who benefit from our KMUT (Kalaignar Magalir Urimai Thogai scheme of Tamil Nadu government, the Rs 1,000 monthly assistance to women beneficiaries) cash transfers will be the ones who will be hit the hardest. This is not digitisation. It is institutionalised extraction. The poor swipe, the rich smile."
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Bihar Governor Arif Mohammad Khan backs Waqf Board reforms
Mathura (PTI): Bihar Governor Arif Mohammad Khan on Wednesday stressed the need for reforming the Waqf Board, citing widespread disputes over its properties.
Talking to reporters here, Khan shared his experience as a former minister in charge of the Waqf Board in Uttar Pradesh and said more than 90 per cent of Waqf properties are embroiled in legal disputes. "It is rare to find Waqf properties being utilised for charitable purposes, such as running colleges, universities or orphanages. Instead, they largely serve the interests of the affluent class," he said.
Earlier in the day, while inaugurating two newly-refurbished government schools at Lohvan in Mahavan tehsil of this Uttar Pradesh district, Khan highlighted the transformative power of education. He underscored its role in building a strong and developed India and emphasised the need for quality education for the society's progress.
Union Minority Affairs Minister Kiren Rijiju tabled the Waqf (Amendment) Bill, 2025 in the Lok Sabha on Wednesday. Tabling the Bill, which was examined and redrafted by a joint parliamentary committee (JPC), Rijiju said the proposed legislation has nothing to do with religion, but deals only with properties.
