Friday, 22nd November, 2019

Snippets

Engineer had negative balance since start of 2017 in bank account, losses first salary as penalty charges

06, Nov 2019 By Santosh Pradhan

Mumbai. The reason for engineers in India paid a low salary could be the mass production of engineers in India and over the top of the low salary some actually end up losing the full first salary in penalty charges. This is due to the ‘udhaari’ culture in engineering colleges. Most engineering students end up spending more than they actually have on movies, snacks, sutta, and alcohol.

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Shwetank Srivastava had in fact spent 20k Rs on his placement party and he did not realize till he got his first salary slip that his salary was way below 20K Rs. Not only that, the fun part is that Shwetank didn’t even receive his salary as every penny went into paying the penalty charges for maintaining a negative balance for last 2.5 years. He has still not figured out whether or not he will get his next salary in his account, but his balance is still negative as per today’s reports as he threw a grand party yesterday to celebrate his first salary.

This is a never-ending cycle as he will treat some more friends in the next month and so on. Banks should have a provision to not charge a penalty for engineering students as most of them don’t have jobs and are under severe pressure.