Modi's ATM Fee Hike, New Banking Rules, and How Modi 0.3 Failing Youth: Unemployment, Mental Health, and Tax Torture in Modern India

This article discusses India’s new banking rules and examines how the Modi government is failing the youth through various examples and notes. It aims to address a singular question that many are asking: where is our money going, and why do we not see jobs and happiness in our community?

From April 1, 2025, banks in India are introducing several new regulations that will impact the average citizen:

ATM Withdrawals: Only 3 free ATM withdrawals from other banks will be allowed. Subsequent withdrawals will incur a charge of Rs 20-25.

UPI IDs: UPI IDs linked to inactive mobile numbers will be deactivated, purportedly for security reasons.

This change is expected to disproportionately affect low-income individuals who may struggle to maintain mobile recharges (recharges exceeding $5 per month).

Credit Card Benefits: Banks such as SBI and IDFC First are reducing credit card benefits, including rewards and discounts.

Minimum Balance: Minimum balance requirements for savings accounts are becoming stricter, with penalties for non-compliance.

Notably, public sector banks (PSBs) collected nearly ?8,500 crore in fines from POOR INDIANS ???? for failing to maintain minimum balances between FY2020 and FY2024.

Savings Account Interest: Savings account interest rates will now be tiered based on account balance, with higher balances earning higher interest.

UPI Security: Rationale and Concerns

1. The government cites increasing UPI fraud as the reason for deactivating dormant IDs.
2. Scammers exploit old, unused UPI IDs linked to inactive numbers to defraud users.
3. While deactivating these IDs may reduce some fraud, questions remain about its overall effectiveness, as hackers continuously develop new methods.
4. Users are advised to enable two-factor authentication and refrain from sharing UPI PINs.

Digital Payment Trends: Increased Control, Diminished Freedom

India is aggressively promoting digital payments, but this push is accompanied by increased restrictions:

• Despite India's dominance in UPI and RuPay card usage, Indian banks are diminishing reward programs.
• Wallet companies like PayTM are facing stricter regulations from the RBI.
• The Central Bank Digital Currency (CBDC), or Digital ?, is about to be forced on all, signaling a potential decrease in cash usage.

The Underlying Crisis: Unemployment and Despair

While the government focuses on altering banking rules, the core issue of unemployment remains unaddressed. This is leading to widespread:

- frustration,

- depression, and

- rising suicide rates among Indian youth:

?? 1 in 7 Indians experiences mental health issues (WHO).

• ?? An estimated 1.5 million people are homeless (Census 2011, with no updated data).
• ?? 1-2 BHK apartments rental in Metro cities like Bangalore, Hyderabad, Mumbai, Gurgaon, and Delhi is skyrocketing.
• ?? 35% of children under 5 suffer from malnutrition (NFHS-5).
• ?? 12 million students dropped out of education (pre-COVID, MHRD estimates).
• ?? Many individuals struggle to find employment despite significant educational ??investments.
• ?? Over 34,000 youth suicides were recorded in 2022 (NCRB).
• ?? The suicide ?? rate of labor class workers has doubled.

Government Priorities: A Disconnect

Prime Minister Narendra Modi and his chief ministers are accused of prioritizing divisive issues over critical concerns.

Topics like:

• Aurangzeb,

• Waqf boards,
• Gyanvapi mosques, and
• Propaganda films are said to distract from pressing matters.

It is claimed that only a very small percentage of traditional BJP and RSS linked voters are receiving government jobs, and through non public processes (backdoors) and 99% Hindu Youth and Population is being fooled.

Allegations of broken promises regarding "Achhe Din" and "Make in India" suggest that benefits primarily accrue to large corporations.

• The government is criticized for waiving significant loans for corporations (e.g., Adani, Ambani) while increasing taxes on the general population.
• Rising GST, fuel prices, LPG costs, and toll taxes are compounded by stagnant salaries.

The Question of Corporate Favoritism

The Electoral Bonds scam raises concerns about secret funding from corporations to the BJP in exchange for preferential treatment.

??? The government is accused of ignoring farmer and unemployment protests while imposing further taxes.

The privatization of public sector undertakings (PSUs) like LIC, Railways, and banks is viewed as benefiting the Prime Minister’s wealthy associates.

Disillusionment and Demand for Accountability

Many feel that the government has betrayed its mandate:

1. Youth face unemployment and rising suicide rates.
2. The middle class is burdened by taxes.
3. The wealth gap is widening.

The question remains: When will the government address these critical issues instead of focusing on new banking fees? Should the government prioritize job creation?

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