Complaints for Banking Services

If you have a complaint for deficiency in service by bank unresolved for a month, it may help to visit Banking Ombudsman bankingombudsman.rbi.org.in for help.

Alternatively, you may give a missed call to 14440 for further action

Can a Bank be held deficient in services if its ATM does not dispense Cash for the reason “Cash not available”?

A consumer Court in Raipur has recently imposed a penalty of Rs.2500/- on SBI for exactly the same reason overruling 🎯the arguments of SBI that
1) the complainant was not its customer and
2) failure of internet connectivity is not within its ambit, rather it is upon the internet service provider against whom, any complaint if any, should lie.

The Forum countered SBI by saying that when Banks are charging for usage of ATMs for a whole year in advance and a client is Free to use any ATM he automatically becomes a customer.

The second point was countered with the reasoning that when the ATM itself was showing “No Cash Available” on 3 different dates and times how it can be a case of internet failure? Moreover, when customers are penalised for no balance or less than minimum balance in their accounts, how can a Bank get away with no cash in the ATM?

It being the first such judgement for ATM failure, it is expected to generate a lot of interest in the matter.

The incident happened in May 2017, complaint filed in June 2017 and the verdict was passed recently.
It’s a reminder to our banker friends here to be more careful in loading Cash in ATMs especially before consecutive holidays to escape such penalty as well as customer dissatisfaction.
As received.

Courtesy N Sankarapandian Natarajan in SBI Pensioners group💐🙏

No Lesson Learnt: RBI’s new Rs100 note is new headache for users, banks, ATMs

The Reserve Bank of India (RBI) is shortly issuing new notes of Rs100 denomination in the Mahatma Gandhi (New) Series with lavender as base colour. The dimensions of the note at 66mm × 142mm are smaller than the one in circulation at present with a size of 73mm X 157mm. This, dimension change, however, would be a new headache for everyone from users to banks and automatic teller machine (ATM) service providers.

Rajiv Anand, Executive Director of Axis Bank told the Economic Times, “It looks like we may have to recalibrate the ATMs because the new Rs100 is neither the size of the old Rs100 note nor the Rs200 note for which we have recalibrated our ATMs.” The cost of the exercise could be Rs100 crore.
According to Radha Rama Dorai, Managing Director – ATM & Allied Services at FIS, this new Rs100 currency note would require re-calibration of the ATMs and more investment in terms of cost and efforts. “The dimensions of the new Rs100 currency note are different from that of the existing Rs100 currency note. To dispense the new notes from the ATM would require recalibration of the currency cassette in the ATMs. The ATM industry is just about finishing the calibrating the ATMS for Rs200 denomination. This recalibration would again require investment in terms of cost and efforts,” she says.
Earlier in January 2018, RBI had asked banks to re-calibrate their ATMs for the new Rs200 currency notes. However, many banks are yet to complete the job.
FIS manages a network of 12,000 plus ATMs, spread across the country particularly in the difficult terrains.
In a release, the Reserve Bank had said that all banknotes of Rs100 issued in earlier series would continue to be in operations as valid tender and printing and supply of the new Rs100 notes would increase gradually.
Since the old and new notes are likely to co-exist till such time RBI completely withdraws the old notes, it will be difficult to re-calibrate all the ATMs to soon support the new dimensions of the note. There is likelihood of an imbalance between the supply of the new notes and the withdrawal of the old notes, especially in the hinterland. If the supply of the new currency is unable to fill the gap created by the withdrawal of the old currency, dispensation of Rs100 currency notes through the ATMs will get affected till such time as the imbalance exists.
“It would be prudent to let banks and service providers decide when to calibrate the ATMs for the new currency note, depending on the ‘supply-withdrawal’ situation in each State over the next few quarters,” Ms Dorai says.
The new Rs100 note will have the motif of ‘Rani ki vav’ – a stepwell located on the banks of Saraswati river in Gujarat’s Patan and a UNESCO heritage site.
The new series of Rs100 currency notes will be the fifth new banknote design to be issued by the Reserve Bank, after the government demonetised Rs500 and Rs1,000 banknotes in November 2016.

RBI cautions bank customers against fake website seeking confidential account info

The Reserve Bank of India has cautioned citizens against a fake website which is fraudulently taking personal and confidential banking details of bank customers posing as the central bank.

The Reserve Bank of India has cautioned citizens against a fake website which is fraudulently taking personal and confidential banking details of bank customers posing as the central bank.

“It has come to the notice of the Reserve Bank of India that a fake website of the Reserve Bank of India has been created with the URL http://www.indiareserveban.org by some unknown person(s). The layout of the fake website is similar to the original RBI website,” RBI said in a statement on its website.

The official website of the RBI — India’s central bank — is https://www.rbi.org.in  and it holds no other website.

The home page of the fake website also contains a provision for “Bank verification with online account holders” which appears to have been created with a fraudulent intent of obtaining personal and confidential banking details of customers of banks, it added.

The Reserve Bank of India clarifies that as India’s central bank, it does not hold any accounts for individuals and never asks for personal information such as bank account details, passwords, etc…

“The Reserve Bank cautions members of public that responding online on such websites could result in compromising crucial personal information that may be misused to cause financial and other loss to them,” the banking regulator clarified.

Over past years, RBI has been consistently alerting customers about the fake websites, emails asking to transfer funds or for bank account details in the name of a lottery, fictitious job offers in the name of RBI jobs, etc fraudulently luring and cheating customers and that one should not fall prey to it.

Further, members of public are also cautioned about existence of websites such as www.rbi.orgwww.rbi.in etc. These URLs may appear similar to the website of RBI. However, these websites have no affiliation with the Reserve Bank of India. Members of public are advised to be cautious while accessing or when providing any information on such sites.

Beware : Vishing Scam!

Woman duped of Rs 29,000, vishing fraudsters had basic card info

Three people, with basic information about a 38-year-old woman’s credit card, cheated her of Rs 29,000 recently employing a new form of vishing. The woman, an architectural consultant, registered an FIR with Vile Parle police.

Around 11.30am on August 5, the consultant received a call from one Neha, claiming she worked with ICICI’s credit cards division and was aware the consultant’s credit card was to expire later this month.She also knew the new card had been couriered. “I believed Neha to be a genuine employee. She told me reward points worth Rs 9,000 had accumulated on my existing card and would expire unless transferred to my account as an excess credit balance. When I consented, the call was transferred to one Roshan Sharma, who posed as an employee of Payback, a customer loyalty rewards programme,” the consultant said.

 Payback has tie-ups with a few banks, its reward points can be used for shopping. Under the pretext of verification, the accused got the consultant to part with all her card details.The line was transferred between Neha, Roshan and a third associate. “Neha told me money would be credited in two or three instalments,” the consultant said. When Rs 14,365 was debited, she asked Neha what was wrong.

“Neha said there was a problem with completing the point transfer. She said Rs 14,365 would be reversed to my account only if I gave details of another Payback-linked card. I gave details from my Bank of India debit card. Another Rs 14,415 was debited. I shouted at them, but they assured me the sum would be reversed into my account,” she said. Roshan gave her the genuine address of Payback’s Mumbai office.

 “When they asked for details of a third card, I decided I had enough. I warned them I was going to the police. But they said cops couldn’t touch them,” she said, adding she was on phone with them for 90 minutes. “The money went to an IDEA digital wallet and must have been spent by the accused. Had it gone to a bank account, we could have easily traced them,” a cop said.

When will Banks stop fleecing us?

Join the #TweetMorcha on Twitter on 4th July at 3 PM – if you care.

Tweet to PM Modi  as under

@narendramodi  Please direct RBI to instruct Banks to stop fleecing Bank Customers in the guise of BankCharges –  #TweetMorcha

Banks NOT responsible for theft of valuables from Bank Lockers!

Banks won’t compensate you for burglary or theft of your valuables in lockers, reveals RTI query

This bitter truth was disclosed in an RTI response by the Reserve Bank of India (RBI) and 19 PSU banks.

Stung by the revelation, the lawyer who had sought information under the transparency law has now moved the Competition Commission of India (CCI) alleging “cartelisation” and “anti-competitive practices” by the banks in respect of the locker service.

He has informed the CCI that the RTI response from the RBI has said it has not issued any specific direction in this regard or prescribed any parameters to assess the loss suffered by a customer.

Even under the RTI response all public sectors banks have washed their hands of any responsibility.

According to the information availed by the lawyer, the unanimous reason given by the 19 banks, including Bank of India, Oriental Bank of Commerce, Punjab National Bank, UCO and Canara, among others, is that “the relationship they have with customers with regard to lockers is that of lessee (landlord) and lessor (tenant)”.

The banks have contended that in such a relationship, the lessor is responsible for his or her valuables kept in the locker which is owned by the bank.

Reuters

The common feature of all locker hiring agreements states, “As per safe deposit memorandum of hiring locker, the bank will not be responsible for any loss or damage of the contents kept in the safe deposit vault as a result of any act of war or civil disorder or theft or burglary and the contents will be kept by the hirer at his or her sole risk and responsibility.Some banks, in their locker hiring agreements, have made it clear that any item stored in the locker is at the customer’s own risk and he or she may, in their own interest, insure the valuables.

“While the bank will exercise all such normal precautions, it does not accept any liability or responsibility for any loss or damage whatsoever sustained to items deposited with it. Accordingly, hirers are advised in their own interest to insure any item of value deposited in a safe deposit locker in the bank,” they have said.

Aggrieved by the responses, the lawyer — Kush Kalra — raised questions before the CCI — why not just keep the valuables at home after insuring them, instead of paying rent to the bank for a locker when it is not going to take any responsibility for the contents.

He further alleged that all these banks, also including State Bank of India, Indian Overseas Bank, Syndicate Bank, Allahabad Bank and others, have formed a “cartel” to indulge in such “anti-competitive” practices.

He further alleged that the bank by forming an association or cartel are “trying to limit the improvement of services which is directly affecting the competition in the market and interests of the consumer”.

The lawyer has sought a probe under the Competition Act into the allegation of cartelisation by the banks in respect of the locker service.

http://www.firstpost.com/business/banks-wont-compensate-you-for-burglary-or-theft-of-your-valuables-in-lockers-reveals-rti-query-3745563.html