Consumer Grievances in Banking - Inputs on Issues
Dear Members:
Thanks for submitting your vote on the poll about what industry has the most share of consumer grievances.
Let us initiate a discussion on the issues consumers face in the Banking sector. I request all of you to outline the various issues you have experienced/come across in this industry with banks related to loans, money transfer, account opening, credit cards, process delays, unauthorized charges and any other areas.
Once we understand the issues, we will root cause them and identify solutions that can be taken to the various Ministries and Departments for implementation.
Our objective would be to bring some systemic changes that will increase accountability and reduce consumer grievances in the banking and financial services industry.
I look forward to you inputs!
Rajendra Pratap Gupta more
Thanks for submitting your vote on the poll about what industry has the most share of consumer grievances.
Let us initiate a discussion on the issues consumers face in the Banking sector. I request all of you to outline the various issues you have experienced/come across in this industry with banks related to loans, money transfer, account opening, credit cards, process delays, unauthorized charges and any other areas.
Once we understand the issues, we will root cause them and identify solutions that can be taken to the various Ministries and Departments for implementation.
Our objective would be to bring some systemic changes that will increase accountability and reduce consumer grievances in the banking and financial services industry.
I look forward to you inputs!
Rajendra Pratap Gupta more
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I live in Bangalore and I have an SBI account that was opened in my hometown which is in Andhra Pradesh. Now, to make any changes like changing the address, enabling the internet banking, requesting for new debit card[if debit card is lost] etc., I must go to my hometown to just submit a letter. This causes lot of inconvenience to the customers. This is not the case in other private banks[Citi]. With just a phone call and after a thorough account verification over phone, request will be accepted. Same procedure can be followed in SBI and all other banks to answer the inconvenience caused to customers. more
Aug 31
my a/c in punjab national bank , i request to the clerk that stop my sms msg. because i have no balance in the a/c the charge the 65/- per year is unnecessary. she say if we stop the sms then you have problem to received the cheque book. i can not udnerstand what is the concern with sms and cheque book. Then i ask the manager he say there is no option in their program BANK INCOME :- bank charge 65/- per year , if there is 100000 a/c the bank income is 6500000/- per year . this is the loot form poor customer. more
Aug 30
Banks are strict in charges levied from their customers and rules are tightened for getting funds from the banks for a common man. This should be avoided. The charges in the sense means charges for non maintaining of minimum balance at short intervals. This should be avoided. It has been a routine practise in new generation banks. more
Aug 30
Long back once when I was in need of money and had applied for a personal loan, the EMI portion was left blank... the agent told me that this has been left blank as based on the rate of interest decided, your emi will be decided and once done you will have to sign on this space... well after few days I get call that my emi is such and such etc... and again after few days i get a call that i should come and take the disbursement... well i was surprised... when I went for final signoff etc, i found my signature forged in that space of that acceptance of emi... well by that time i needed the money .... so.... On another incident I got my CIBIL statement out, and see that I have mention of Credit Card from a Bank from where I never took the CC.. well after that it was a fight to finish till their level of global chairman... and finally that got removed... Well right here in NCR and in 2014 I went to a bank (my regular) but not my home branch, and requested them for a locker. Heard the same script, you need to have a FD here or ULIP or Deposit linked product as well with the locker.. I was not in a hurry so just heard the lady behind the counter and asked her about the deposit scheme and when will locker available... she checked my balance :) and said will call me up in next two weeks.. 6 months passed no calls... again I went there last saturday 23rd... and spoke to the guy at Teller... as I had some work .. and when I mentioned about locker... and also said that you will now ask for deposit.. his face glowed up :)... he took me to the same lady... she says now locker has been built but the keys have not arrived .... 6 months from last I went.... I will be back from my Puja Holidays and will soon take up this with their Banking Ombudsman and all concerned.... i have mail id of their Mr. Chairman as well... will solve my own by making this branch lick dirt.. BUT THINK WHAT THEY DO WITH PEOPLE WHO CANNOT FIGHT FOR THEMSELVES.....OR DO NOT KNOW THE AVENUE.... All the above are the BLUE CHIP Private Banks (MNC Included) of India... more
Aug 30
