Oh, really? So, does the Catholic Church think Bible reading is a good thing, or not? Obviously, since there are three Bible readings in every mass, every day, it does. Obviously, since indulgences are granted for Bible reading, it is considered good. What you think of indulgences is unimportant except between you and whatever idol you worship.
What Scriptural basis is there for indulgences?
What purpose do they serve?
I John 1:9 If we confess our sins, he is faithful and just and will forgive us our sins and purify us from all unrighteousness.
God forgives us when we confess our sin to Him. End of story.