While the Prime Minister Modi has tried to fill the banks with money, the greedy banks are trying to loot the customers . The SBI and SBH have deducted amounts in the name of TDS saying that the customers have to submit the 15 G forms again if there was any renewal of the FDS in their respective banks. This was not informed to the customers or given any alert even after cutting money for SMS alerts regularly.
The SBI says it will charge Rs 50 for 3 time transactions of money deposits. While the Government is encouraging the people to go for banks and cash less transactions the bankers are trying to charge the customer for everything. They want a deposit of around Rs 5000 , other wise there is a penalty. In future half the day will go for banking , to get all your questions clarified.
Whatever transactions you make through banks, you are bound to lose money. Finally the common man might go away from banks again and keep money in his house hold safes as they did earlier.
From April one the IT department and the banks will show us the true colors. If the customers are not educated and if they don’t understand the language of banks, then they are bound to lose money to the banks for everything.
Private banks and big banks are trying to charge the customers left and right. But they might see customers withdrawing from these banks and going to other banks where there are no charges.
Ing Vysya is good example where it was forced to close the shop as they were charging left and right for the customers.
Now HDFC and ICICI may face the music after some time. Even SBI and SBH are trying to follow the private banks which is not a good sign.
U.Srinivas
Editor
