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  • Category: Miscellaneous

    Bad Times shows Reality of Things

    Here are some of my observations on how the demonetization days showed the reality of the things around us. This observation applies to mostly Pune city's condition on demonetization.

    1. Most of the private banks like AXIS, Kotak, HDFC banks kept their ATM closed. That's why most of the customers moved to PSU banks ATM. I have yet to see AXIS and Kotak opening their ATM in many places. They have placed no cash board on ATM since 10th Nov onwards.

    2. Most of the private banks declared self made rules such as they want to treat only their own customers. No RBI or government action on that sort of discrimination.

    3. Instead of helping the cash strapped customer the private bank sales and PR staff are cold calling the customers. And asking them to move their FD to SIP. Or the linked deposits.

    4. Most of the private banks are desperate to earn the customer. However during such chaotic situation, you can barely see them helping much to priority customers.

    5. PSU banks were known for bad customer service in everyday banking. But during such chaotic situations, they are the one handling the crowd. They are the one keeping ATM open.

    6. Most of the private banks are asking for users to use netbanking. But if they don't have the cash for ATM. How come they are managing the chargeless card payments?

    These are just some observation I managed to jot down while seeing the banks working on this demonetization issue.
  • #585022
    Completely agree with author. Private banks are giving priority to their own customer only. Large number of ICICI ATMs were opened from day 2 comparatively with HDFC and AXis banks.

    In a Press conference, B S Rambabu, General Secreatary of AP & Telangana Bank Employees Federation told that RBI supplies more currencies to private banks than Public sector banks.


  • #585025
    It may be read in today's Bangalore Mirror front page IT Department conducted raids at two places who are highly influential and said to be close aid to the state Chief Minister.

    Partial raid revealed 30 Crores unaccounted cash and other things out of which it 7 Kg Gold, 4.7 Crores cash all in new Rs.2,000/- currency are the highlights of the raid, the details revealed is only about half remaining yet to be published.

    At first place who gave them Rs.4.7 Crores worth of Rs.2,000/- currency, when a common man waiting for a single note of Rs.2000/- for hours at ATM's.

    Certainly it is evident that bank employees have a hand in glove and few bank employees have looted at this juncture misusing the responsibility entrusted to them.

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