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Demonetisation and GST are putting the banks to trouble. All the Jan Dhan accounts were stuffed with the money of Note ban earlier.
All these accounts are now useless as most of the money was withdrawn.
With bank transactions being charged and taxed at every point people do not want to put their money in banks. The banks are facing withdrawals day and in and day out. The deposits are going down.
For everything, you have to prove yourself that you are the one who owns the account. A Transaction above Rs 50000, you have to prove your identity which is ridiculous.
You are doubted with your own money.The future could be more difficult. The GST is making dents into poor and middle-class incomes.
When will the Achche din come for us?
U.Srinivas
Editor
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