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.