If a customers do not operate his account for any reason for five or ten years , he will be punished with penalty of thousands of rupees. On the contrary banks have been marketing Zero Balance Account.This discriminatory behavior of banks cause valid and genuine anger to customer and the following real story is the story of several customers of banks, specially private banks whose charges are unbearable.
I however condemn the act of said customer who abused bank staff for none of their fault.Such customers who take law in their hands must be punished as per law.Bank union must take up this issue with appropriate authority.
Real Story which is posted by someone on Facebook
Today a customer came and deposited Rs 40000, and when he saw his balance it shows 37000, when we inquire , we found it was due to non maintenance of minimum balance for 5 years. Now he started quarreling and after some arguments, he left.
Then, he again came back with local Mafia type person at 4.30 PM. He (Mafia) went directly to the Branch Manager cabin, threw Passbook to the BM, and start abusing him. After some argument, he hold the collar of our BM n asked him to go out , and said I will kill u... after that our whole staff went to them, after some talks, our BM ask Officer to give statement to them, in between they both keep abusing bank staff,
Our Officer asked them to quiet, then they start abusing our Officer, I stood up and ask security guard to take that person out of Gate. He kept humiliating us, so our Guard called the Police, and Police came and took both to the Police Station,
Our BM told whole incident to DGM, a very nice answer from him to finish this all, and asked us to say sorry to them. But our BM and whole staff went to Police Station, U know what Policemen were friends of them n also local SP leader called Police Station to handle us.
After long arguments, No FIR was lounged by Police, and that Mafia in front of all policeman abused us and said u all will have to face severe consequences, n I will make sure that u l b terminated.
Is it nice?
See where we are.. no protection nothing, either we have to face severe consequences from our Management or will face severe beating very soon from local Mafias..
Thanks n bhai ho sake to bank mat join karo,,, From Syndicate Bank Dadri Gautam Buddh Nagar, suggestion welcomed 22/04/2014
No penalty for bank balance below minimum limit: RBI to banks-Times of India -01.04.2014
MUMBAI: Customers may soon be spared penalties for non-maintenance of minimum balances in savings accounts with the Reserve Bank India asking banks to cut down services on low-balance accounts and do away with fines. Banks however say the new regime will lead to higher charges on services for customers.
In its first bi-monthly policy on Tuesday, RBI said that it proposes to frame comprehensive consumer protection regulations based on domestic experience and global best practices. "Banks should not take undue advantage of customer difficulty or inattention. Instead of levying penal charges for non-maintenance of minimum balance in ordinary savings bank accounts, banks should limit services available on such accounts to those available to basic savings bank deposit accounts and restore the services when the balances improve to the minimum required level," RBI said.
Many account holders who maintained dormant accounts, which were short of the Rs 10,000 insisted on by most private banks, found that their balances had vanished as the bank had deducted a penalty every quarter for not maintaining adequate balance.
Link Times Of India
RBI: Banks must not punish non-maintenance of minimum balance-Hindustan Times-02.04.2014
In major consumer protection initiative the Reserve Bank of India (RBI) on Tuesday asked banks not to levy penal charges on customers who don't maintain a minimum balance in basic savings bank accounts.
"Instead of levying penal charges for non-maintenance of minimum balance in ordinary savings bank accounts, banks should limit services available on such accounts to those available to basic savings bank deposit accounts and restore the services when the balances improve to the minimum required level," RBI Governor Raghuram Rajan said in first bi-monthly monetary policy statement for 2014-15 in which he kept interest rates unchanged.
Some bankers see it has a good move.
“The direction is very clear that you create a set of accounts where you don't charge for maintaining a balance, but you will be allowed only these services. For any additional services, probably you have to pay," said KR Kamath, chairman and managing director of Punjab National Bank.
Others feel the customers could end up paying more if the banks were allowed to charge for services.
“The alternative is then you will charge for services such as cheque books and ATM transactions. If I start charging for these services, you will actually end up paying more to the bank," said Aditya Puri, MD and CEO of HDFC Bank.
What you wrote about is leving of 'unwarranted' charges. So, what you care all about is customer service.The charges may be unwarranted but that doesn't mean that customers can do such acst with a public servant.
ReplyDeleteThere is a protrction u/s 353 of ipc, that describes disrupting a govt servant in serving his duty as a punishable crime.
ReplyDeleteSecondly even if there was a mistake by the bank, it was to be raised through some proper channel..who has granted them the right to fight with bank official or more so to abuse them..simply ridiculous.
Such matters to be taken with utmost seriousness.
We are often faced this kind of people's behaviour in our branch as our customer base belonging to pre civilization age. We are used to face it in daily routine bcoz we are orphans..
ReplyDeleteOne thing I can't just understand. If no charges can be levied for not maintaining the minimum required balance in one's bank account, they why the hell banks must fix the minimum balance at all? Can they enforce this, without any penalty? You must only see that this penalty is uniform, fair and reasonable. If you simply do away with minimum balance condition, each and every account will turn into 'Zero Balance Account'. Already banks are dying to reach their CASA targets. If the minimum balance requirement is also not insisted upon, banks' CASA segment will take a definite hit.
ReplyDelete