Banks Want Forged Paper Trails After Taking Money Illegally From Customers For Modi Govt's Flagship Schemes

Despite media exposés and frequent public complaints, banks nationwide continue taking money without authorisation from accounts to enrol customers in low-cost life-insurance and accident-insurance schemes launched by Prime Minister Narendra Modi.

To meet targets set by the union government, bank offices are now withdrawing money from accounts of many customers en masse, in some cases even forging customer consent and asking local offices to camouflage forgeries.

#IndianBanks #UnionGovt #banking #GovtSchemes #PMJJBY #APY #PMSBY #NarendraModi #elections2024 #india

https://article-14.com/post/banks-want-forged-paper-trails-after-taking-money-illegally-from-customers-for-modi-govt-s-flagship-schemes-66020a2da1d42

How An Aadhaar Fraud Forces The Poor Into Paying For Welfare Schemes They Do Not Want

Across India, banks are enrolling account-holders in social security schemes without their assent. Kiosk operators or banks’ business correspondents deceitfully obtain customers’ fingerprints for authentication via the Aadhaar-enabled Payment System, thus imposing the Narendra Modi government’s welfare schemes on the rural poor. Kiosk operators allege that banks pressurise them to enrol customers, by hook or crook, in the government’s life insurance, accident insurance and pension schemes.

#aadhaar #UID #identification #exclusion #DigitalDivide #welfare #poverty #privacy #banking #biometrics #security #PMJDY #PMSBY #governance #AEPS #UIDAI #MGNREGA #employment #UnionGovt #india

https://article-14.com/post/how-an-aadhaar-fraud-forces-the-poor-into-paying-for-welfare-schemes-they-do-not-want-63f57eb9e8d15

The stated reason for rise in premium rates is increased cost.

http://164.100.24.220/loksabhaquestions/annex/178/AU2863.pdf gives total subscription / claim data.

Andhra Pradesh alone accounts for 40% of #PMJJBY claims and 25% of #PMSBY claims. #Scam or more people died in AP?

The ₹106 on #PMJJBY and ₹8 on #PMSBY might seem very small - But the base is large - pretty much every bank account holder in 18-50 age bracket.

How much will people pay more for the same ₹2 lakh accident / death benefit that was started 7 years ago?

₹ 550 Crores from poor

Via WA - Latest robbing of poor -

#PMJJBY & #PMSBY insurance premium rates increased silently- on last day of renewal cc @cfa_ind @idesibanda @alwaysfranc