Etawah Traders Protest Against Bank Arbitrariness, Submit Memorandum

इटावा | मनोज कुमार

Traders Protest Bank Arbitrariness in Etawah

Etawah, Uttar Pradesh | October 28, 2026 - The Industry Trade Representatives Council in Etawah staged a strong protest on Wednesday against the alleged arbitrariness and oppression of traders by banks. Responding to a call from Provincial President Lokesh Agarwal, traders gathered at the district headquarters and, led by District President Alok Dixit, submitted an eight-point memorandum to the Union Finance Minister through City Magistrate Rajendra Bahadur, highlighting their various issues.

Traders allege that current banking policies are creating significant obstacles in their business transactions, causing them considerable hardship. A key demand is for all public sector banks to remain open seven days a week, as disruptions occur due to weekly bank holidays.

Concerns Over Interest Rates and Minimum Balance Charges

The traders expressed concern over the extremely low interest rates on savings accounts and the complete absence of interest on current accounts. They strongly demanded the complete abolition of charges levied on customers in the name of minimum balance, which they deem unfair.

Questions Raised on Cheque Bounce and Fee Collection

Traders also deemed the current procedure of penalizing the payee in case of cheque bounce as unfair. They argued that penalties should only be applied to the issuer of the cheque, not the recipient, aiming to simplify dispute resolution.

Furthermore, they described the cash handling charges imposed on cash transactions as an unnecessary financial burden on their businesses. Despite regular and expected transactions, banks are levying various charges that prove detrimental to their operations. They demanded the immediate removal of these charges to ensure the smooth continuation of small and medium-sized businesses.

Key Suggestions on Loan Renewal, NPA, and KYC

In their demands, traders urged an immediate halt to the amounts charged by banks for loan and limit account renewals and asset revaluation. They suggested extending the current three-month period for classifying loan accounts as Non-Performing Assets (NPA) to six months, providing traders more time to recover from financial pressure.

The issue of harassing account holders by repeatedly calling them to the bank for KYC (Know Your Customer) updates was also prominently raised. Traders stated that the time wasted and repeated visits disrupt their business hours. They demanded that the government extend the KYC period from the current one year to ten years, making the process more convenient and time-efficient.

Additionally, they advocated for the abolition of account maintenance charges, which they consider an unnecessary expense.

Administration Assures Memorandum Will Be Forwarded

During the protest and memorandum submission, District Vice President Ashok Jatav, Haji Hannan Mansoori, District Vice President Manoj Katheria, City President Sonu Agarwal, along with dozens of officials and local business leaders, were present. They unanimously stressed the immediate need for reforms in the banking system and concrete steps to protect the interests of traders.

The district administration assured the traders that their submitted memorandum would be seriously considered, forwarded to higher authorities, and that efforts would be made for appropriate action.