It will be real April fool for the bank customers from April one. The bankers have started cutting money in the name of TDS so on and so forth already. One may not have a SMS facility, One may not have an ATM, but your money is deducted for them by the banks. Now SBH and SBI are ready dot deduct money if you don’t have proper balance as specified by them.
These days half a day time is gone if you go to a bank. You are made to sit as if you are waiting for a doctor in a hospital. So the people have already started withdrawing the money from banks and keeping in their safes at home or in some other form. Since the FDs are not lucrative and interest rate is very less they are not investing in the FDs.
The Government is trying to convert Post offices into banks. The post office people are most lazy and lethargic. They don’t do the post office work regularly and properly. How can we expect people to perform banking from the post offices? CBI has raided the Himayathnagar post office and the staff was caught red handed in the money exchange business.
While the PM Modi wants people to have bank accounts, the bankers on the other hand are driving people away from the banks by coming up with fees and penalties and other restrictions, rules and regulations. People are worried that the Banks are giving the information to the Income tax officers. This should not happen. There should be some security to the money and accounts that a citizen has.
Putting charges on savings and withdrawals and for the transactions is also not good. If you charge for everything in the name of banking the people may not come for banking and they might go back to the old traditional ways of hiding money at home.
U.Srinivas
Editor
