Netizens observe No Transaction Day'

KOZHIKODE: The netizens across the nation observed ‘No Transaction Day’ on Thursday in protest  against the State Bank of India’s  decision on the minimum account balance and reducing the interest rates of savings deposits.   The online campaigners requested the customers  not to transact any business in the bank. The protest will be continued from April 24 to 26. However,  banking experts said  that the protests will not  affect the banks  since the country is moving towards digitisation.

“The bank’s  monetary policies will not be changed.  The government did not retract from its demonetisation policies even after many citizens died. There is a class interest behind such policies that cannot be reverted for a few protesting people,” said Bank Employees Federation of India former president A.K. Ramesh. While the majority of the campaigners opposed the bank’s ‘injustice’ towards the common customers, some blamed it on the demonetisation policies.  Mr Arun Das, a banking professional, said that the banks would try to compensate for   the loss they suffered while shifting to the new currencies, especially recalibrating the ATM machines.