dear friends
During the middle of Jan 09, one of the journalist members of prpoint group wanted to withdraw Rs.14,000/- using Kotak Mahindra Bank ATM card in HDFC ATM machine. Though, he got the debit slip, the money was not received. When he complained to the Bank, they informed him to wait for 45 days to get the money. After 10 days, we took up the matter from prpoint group to the concerned Bank. They repeated the same information.
Immediately, we circulated the information in prpoint group and took up with Mrs Usha Thorat, Deputy Governor of Reserve Bank of India, who is supervising customer services in Indian Banks. There was heated debate in the group, as to how these new generation private sector banks, in spite of their latest technology, exploit the innocent customers. Even after taking up the matter with RBI, these banks defended their position. Meanwhile, we got the acknowledgment from Mrs Usha Thorat, Deputy Governor and informing us that she was taking up the matter.
We now understand from the media that RBI has issued direction to all Banks in India that such claims are to be settled within 12 days. Now, I am sharing the media report below for the benefit of all members. You can also create awareness about this amongst your friends and contacts, so that none of the innocent customers are exploited by these so called 'people friendly hitech' banks.
We place on record our deep sense of appreciation to Mrs Usha Thorat, Deputy Governor of RBI who took up the matter and issued proper directions to the banks, to help the customers, within 15 days. While the so called 'people friendly' new generation technology banks were responding without any human approach, maintaining their stand, an apex body like RBI has taken it seriously to solve the issue, to help the customers.
This is another example of the power of social media, to solve the public grievances.
Please read the media report below
Srinivasan
Prime Point
94440 50273
http://www.rupeetim
RBI direct banks to reimburse money within 12 days
By Vaibhav Aggarwal
Feb 13, 2009
The Reserve Bank of India has directed the commercial banks to pay back the money that has not been dispensed through their ATMs but debited to the customer's account within 12 days.
The banking regulator has notified banks that if they fail to provide the money within the stipulated time period, it will impose penalties under the Payment and Settlement Systems Act 2007.
RBI was prompted to take such a move because of receiving increasing number of complainants from the banks customers regarding wrongly debit of account due to failed ATM transactions.
These customers had been complaining to their respective banks which are not active in their procedure of reimbursement. The banks were taking considerable time of as much as 50 days in some cases.
Noticing such a practice followed by the bank, RBI reviewed the measures taken by the banks in the verification and resolution of such complaints. The apex bank however did not find any justification for the delay in repayment and thereby asked the banks to pay back the customer's money within a maximum period of 12 days of the complaint made by the customer.
The regulator said that the delay from banks was posing a problem to the customers who found themselves out of funds without their fault. It also emphasized that such neglect on banks' part would also discourage customers from doing transactions through ATMs.
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