Posted on: 28-12-10 16:16:28
Quote:
Originally posted by dimple2001
I'd rather rely on someone that's posting based on true, first hand and current experience than from people sitting in Canada and post some delusional opinions.
Same here. Couldn't agree more.
Quote:
Originally posted by KumarM
As I have mvoed back home, I am getting to observe more things. I have an a/c with a PSU bank. Two things that struck me:
1. The Assistant Mgr is on some kind of religious vrath. He's wearing a saffron colour dhoti and a shirt, walking around barefoot and with lots of threads on his wrist and a big red bindi on his forehead. Wait a minute. This is a PSU bank dealing with so many customers, doing business worth crores and this idiot is dressed like this? I asked the branch mgr about this and I was informed that this is going on for the past two weeks. When pressed, the branch mgr confessed that this is an union issue and he cant do anything abt it. Just to see that guy walking around in that dress, made me squirm in the chair and I wanted to get out soon.
2. As I had to provide copies of some important docs to the bank, the branch mgr sent out the peon to make xerox copies. I got upset. What if the guy loses some papers when he goes out to make copies? Why dont the bank have a copier? In the branch mgr cabin? I understand that a copier may be misued by the staff. At least the branch mgr can keep a small printer/copier in his office and keep a tab on it. When suggested, he was not aware of a machine like this. In the end I had to go and make copies and provide to the bank.
Well, well. I am learning to cope with the ridiculous.
Goldman Sachs executives dress very well. So did the executives at GTB or RBF. It took almost 8-10 weeks for ICICI bank to clear my friends cheque when he deposited a large chunk of money from abroad for RE investment. The cheque had cleared all the loops involved in an international transaction and was sitting with the ICICI buffoons.
They have an eight day "guarantee" for clearing cheques originating from US banks. After a few weeks, my friend and I would go in almost every day and get annoyed with the manager of the ICICI branch in our neck of the woods in India, who would then call his superiors in Bombay and make up some ridiculous excuse or other.
Personally, I wouldn't care much for inconveniences with PSu banks as long as my money was in safer hands. A good night's sleep is what you get for enduring these inconveniences. Some PSU banks actually have good service. My experience with BoB was very good.
Among all the things, you picked up indian PS banks.....!!!, which are the best even after all these issues... may be you should change your branch..
The only problem in these banks are you are only insured for 1 lac... .
All the other issues are minor as long as you are not asking for a loan...!!!.
I lived in North America for 21 yrs, in different cities, in both countries. Never had any issues with banks or any id theft.
Banking system in India has improved a lot. I opened an a/c in a private bank last yr, visited only twice to deposit cheques. All transactions appear as SMS, I check the balance online. For the PSU bank, I have to go to the branch to get my passbook updated. Invariably there is no power supply/no backup generator or the printer is messed up. Most of the higher ups in PSU banks are old timers who are reluctant to change for the better. At least I don’t keep lakhs of Rs in a bank, only who are in business.
Last year I had borrowed Rs. 7 lakhs home loan for an apartment from the same PSU bank branch. They would never give me a list of documents that needed. Everything has to come from the “circle office” and from their “legal dept”. I was not allowed to contact them directly. I have to go thru the branch office only. After each document I provided, they would ask for some other document. At one point I wanted t give up and borrow from my inlaws. Anyway after three weeks of running around, I got the loan. Now I have paid off the loan and reduced the balance / transactions to a minimum, just for the namesake. To hell with them.
When I wanted to open a DEMAT a/c, by mistake I told the PSU bank that I was an NRI. They wanted me to get permission from the RBI. I walked to the private bank and got the a/c opened. Everything is just fine.
For all those who moved back to India recently and are feeling happy about being back among their loved ones, here is what I have to say: Wait till the initial euphoria wears out! It won't be long before the pollution, indiscipline, corruption, filthy conditions, nepotism etc, and above all, the 'chalta hai' attitude starts bugging you. Yes, yes, I know Canada have some of these maladies too, but not to the sickening levels our country has it, and the way everybody lumps it!!
And for the information of those who feel that our banking system is robust and safe in general, and more so in PSU banks in particular, here are two news items reported in today's newspapers:
1. A data entry operator in State Bank of Travancore's Pathanamthitta (Kerala) branch has siphoned off more than Rs 1 crore of depositors' money over a period of four years. Yes, a data entry operator!
2. A Relationship Manager in Citi Bank's Gurgaon branch has siphoned off Rs 4.5 crores (yes, you heard it right - 4.5 crores!) of depositors' money in around one year's time!!
3. I personally know of a case where the Fixed Deposit Receipts issued by Vashi branch of a public sector bank turned out to be fake, and the bank blamed it on a clerk and disowned the responsibility!
In all the three cases, the customers are not likely to get their money back, since some disclaimer is apparently signed by all customers without even realizing it!
Happy New Year!
Let me add my 2 cents here. The largest registrar of shares K**** has gobbled up my 4000 plus bonus shares of a leading company worth 12 lakhs now. Long story short, since I was net there to receive bonus shares, they removed my bonus shares from my folio and don't know what they did. There is no reply from their end and say matter is still in investigation since 2 months. So be careful from these sick and corrupt morons who sit in positions of responsibility and act with utter disgrace to benefit themselves.
Quote:
Originally posted by KumarM
Banking system in India has improved a lot. I opened an a/c in a private bank last yr, visited only twice to deposit cheques. All transactions appear as SMS, I check the balance online. For the PSU bank, I have to go to the branch to get my passbook updated. Invariably there is no power supply/no backup generator or the printer is messed up. Most of the higher ups in PSU banks are old timers who are reluctant to change for the better. At least I don’t keep lakhs of Rs in a bank, only who are in business.
Canada v/s India will be a never ending debate, but just my two paisa on this discussion
- The saffron robed manager that you referred to - yes it may be offensive to eyes, but whether it is India or Canada, the constitution allows us the freedom of religion. I wouldn't be surprised to see similar thing happen in Canada.
- PSU banks do allow online banking, SBI and its sister concern does. Even in India, I believe you can live without passbook.
- Yes. Private sector banks in India have improved their service, but even a bank like HDFC bank has a long way to go before it comes at par with Canadian banks when it comes to customer service. The professional attitude is missing in those bank personnel, IMO.
