My View on "Customers may be spared from keeping minimum balan...":
Every time when banks tinker with the system of providing services, the hard hit is only the customers. Only a couple of years back, RBI issued guidelines that banks should allow ATMs of other banks to be used by customers without any charge for such use. But, now, this decision has been reversed putting the customers at a loss. Not all banks have their ATMs located in all places. In India, ATM penetration is one of the lowest. Instead of increasing ATM penetration, making the customers to pay for use of ATMs other than those in which they have their accounts is retrograde action. RBI should rather facilitate better banking by making banks to cut costs on areas which are considered unproductive instead of forcing the customers to pay.
Similarly, making too frequent changes and charging customers for services which are basic for banks to provide will be detrimental to the interest of the customers.
Customer service is far from satisfactory. I have a couple of instances where customers are made to run to pillar to post to get redressal of their genuine grievances. But, nothing has happened. In one instance, a poor customer (a gardener by profession) of SBI, Andheri(W) branch depsited a govt cheque of Rs.63,723/- on 11 March 2013 is yet to get credit of the amount to his SB A/c. 10218281741. Despite repeated visits and letters no action is taken. Complaint to the Banks Ombudsman is also lodged. Such is the plight of poor customers. Who is going to make good the loss to this poor customer (loss of interest, travel cost, wage lost etc)? Huge NPAs where defaulters are not considered as willful (Kingfisher airlines)have eroded the profit of the banks forcing the government to recapitalise them which is ultimately your money and my money. RBI should address these issues and make the banks accountable for poor services rendered by them. Will RBI intervene and redress this sample case mentioned by me in this message?
- Santhanam
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