SBI chairman wants a reply to all email complaints within 48 hours

The new set of instructions from the bank authorities will lead to a big improvement in the way SBI handles its customers

State Bank of India's (SBI) chairman OP Bhatt is seeking fast and prompt action—at least a reply—to email complaints filed by the Bank’s customers. According to an email reply (copied to Moneylife), a deputy general manager (DGM) of SBI has said: “Please note that our Chairman desires that all the email complaints, forwarded from the Corporate Centre have to be replied to the Department within 48 hrs.”

In the past, when Moneylife has forwarded complaints to the SBI chairman's office, we were pleased to receive an immediate reply from the chairman's secretariat to the effect that the complaint would be looked into.

However, there has been complete silence thereafter. These complaints simply went into limbo and nothing was heard from SBI again. Hopefully, these new set of instructions from the top will lead to a big improvement in the way the bank treats its customers.

The DGM was replying to a complaint filed by Moneylife's Veeresh Malik regarding the garbage created by SBI's Defence Colony branch in New Delhi. Earlier, the branch manager told Mr Malik that the Bank only maintains the area in front of the branch and had given a contract to collect the waste from the bank on a daily basis.

Mr Malik replied saying that there is no difference between the front and side of the branch since customers have to walk through the side area to reach the front area. Also, the main signage for the bank branch overlooks the evolved garbage dump, he added.

The branch manager had also said, “We have requested the RWA, Defence Colony to make necessary arrangements so that this area will be well maintained and clean."

Mr Malik again wrote to the Bank authorities. He said, "SBI Defence Colony Branch is located within the DDA Moolchand Shopping Complex. To write to the Defence Colony RWA is like asking the neighbours to clean (up the mess due to) the result of your lack of attention to hygiene. The generator is on public land, with the exhaust pointing straight towards our home. Handing over garbage collection to a sub-contractor does not eliminate the responsibility of the SBI Defence Colony Branch. These issues are not addressed. Instead, an attempt to pass the buck seems to have been made, by stating that 'a letter has been written to the RWA'."

To this, a reply came from the DGM asking the SBI officials to reply in detail and instruct the branch manager to initiate immediate measures to rectify the position.

COMMENTS

Piyush Gaur

5 years ago

omplaint Ticket Number : CC-1301820256676


Name : Piyush Gaur
352 33 church road west paal beechla ajmer
Account Number: 31002755904
Branch Name: Diggi Bazar Ajmer
Email : [email protected]
Phone No : 09717091264
Mobile No : 9829523736
Product : Education Loans
Complaint : Account Related - Errors in computation of interest
Message : I applied for education loan of RS 200000 in year 2001 for my engineering degree course.In which the condition wqs that every year we will get the checque of 50,000 till four years in name of college .they sanctioned my loan and that time Mr Safra was loan officer.I started payment of intrest on immediated basis which was continued for almost 2.5 years.after repeated request to the bank authorities they never provided the statement of our deposited amount.Then we decided to deposit Rs 5000 PM on our own.As of now we are depositing Rs 6000 PM and every time when we ask bank authorities about our pending balancethey always says that its around 90,000.Sir we are unable to understand that after almost 5 years of repayment still our balance is 90,000 however my total loan was only 200000.Also at the time of our intrest rate was 10.25 which was told by authorities of bank now they have increased the rate of intrest.This is my Humble request to you kindly look into matter and arrange to provide the details of my payments rom very first day.

Sovan Kumar Maity

5 years ago

Sir,
1. I have a ATM Card bearing machine No 622018085560003181 issued by State Bank of India Mashila branch situated Andul, Howrah. On 03 Feb 2011, I punched in my ATM Card at SBI ATM (Andul Bus Stand) for Rs 15000 but I got only Rs 9500 through ATM receipt No 9538. Immediately I informed the discrepancy to the following address :-
(a) Nearest SBI Branch (SBI-Mashila, Code No 8556) where I have my saving account for which they have given written complaint to Main branch of Howrah Maidan SBI.

(b) I telephonically intimated(Ph No 033-26413221) to Mr Binoy Ray, ATM Manager of SBI Howrah a Maidan Branch again and again but they have told me the same that ‘ we can do nothing regarding this matter you may contact your nearest SBI Branch.
(c) Sir, it is once again intimated that I have logged so many complaint to ATM enquires, Bangalore vide phone No 080-26599990 but they have also intimate to me through my mobile that” your complaint has been attended and closed in the system.”. Therefore, you are requested to please advised me what to do & how to get my money.

2. The cause and non redresssal of this short change is not understood. The indifferent attitude of SBI staff towards my problem frustrating . I request you to look into my problem and credit the non paid amount (Rs 5500/-) to my account please.

rajendrasing a patil patilno

5 years ago

i want to purchase 5 acres agricultural land in 20lacs rs ican pay the seller rs 8 lacs kindly grant me loan rs 12lacs on land morgage basis loan from your bank my land is at post umbarkhede tal chalisgoan dist jalgoan (maharashtra)help me for my loan

rajkumarnegi

5 years ago

The comments written in this are as per the slogen of state bank of india thelargest bank helps the poor man, but in fact it does not- there is a big gap between the pratice. I just reffered one case of advance to the doctor in your chandigarh main branch handled bt SMe pb and the reply is still awaited. the chief general manager of the chandigarh circle has not given any instructions to the concerned deptt, otherwise an interm reply should have come to me. please be practical . a,/c name is M/sJaswal Dental clinic no 10848377082. thanks

REPLY

rajkumarnegi

In Reply to rajkumarnegi 5 years ago

No reply from the bank for the last two months, you can well imagine the sevice of state bank of india, how much they care for the public and their customers.
Rajkumarnegi

devender kumar tyagi

5 years ago

Sir I have opened a sb a/c of my mother on 08 dec 2010 at sbi navyug market Ghazibad (UP). A/C No. is 31530197956. My mother has issue a cheque No. 782009 on 19 Feb 11 which was return by a SBI branch stating that the signature is not scanned in the computer. I with my mother went to SBI Navyug Mkt on 26 Feb 11 and ask the bank about this. they advised us to fill up a another form with the photo of my mother and a address proof. we have submit all these documents to bank on the same day and also bank has pay that amount on our request. my mother again has issued a cheque on 29 Mar 11 and the cheque has been returned with the same reason. then i a sent a email on 29 mar 11 to bank at thier email address mentioned in the pass book i.e. sbi.006420sbi.co.in but at 2120 hrs on 31 mar 11 no reply has been sent the by bank. My mother is in need of money. pl do the need ful.

REPLY

devender kumar tyagi

In Reply to devender kumar tyagi 5 years ago

i have not got reply till today i.e. 05 apr 2011

Manoj

6 years ago

Dear Sir,
Ref: Vide your letter RASMECC/10-11/385 dated 03/03/2011
With reference to the above, I, Manoj Kumar, holding a Maxgain loan account with your Susanth Lok, phase 1, Gurgoan Branch bearing account no. 30740389089, would like to bring to your kind notice that I have been charged excess interest rate from 01/05/2010 to 03/03/2011.
I have made several visits to the Susant Lok branch to resolve my issue and also have submitted written requests to the branch for which no action has been taken till date.
Each time I visited the branch I was told that my issue would be resolved soon. To this effect, I have been subjected to unnecessary hardship and mental torture.
I would also like to bring to your kind notice that the current rate of interest is 11%, but as per the SBI norms which gives a concessional 0.25% rebate to its customers, accordingly as per my calculation, the applicable current rate of interest in my case should be 10.75%.
In this regard, may I kindly request you to revert the excess interest charged to me by considering the current rate of interest to be 10.75%.
Also, the letter which I received from te branch says that in case of maxgain account, due to some technical problem, the system is not able to change the ROI globally automatically. I am worried that in future if the ROI goes down, then will I have to undergo the same procedure and torture. Kindly clarify the process of future ROI changes to be implemented for my maxgain account.
Attch: 1) Scanned copy of the letter sent from RAMSECCC-CUM-SARC to Susant Lok branch for correction of ROI.
Yours faithfully,
Manoj Kumar
Sushant Lok Branch

suneet singh

6 years ago

i have been your customer for more than 30 years. however i have been facing a lot of problems with your branch code 1270 daryaganj delhi. their system has been down for more than a month an customers facing a lot of problems in getting their passbooks updated. i had lost my debit card and applied for a fresh one on 04mar11. i have yet to receive it. your so called helplines are useless. they have one standard answer. card being processed and will take another week to 10 days. almost a month now. i smsd unhappy to the given no. it was answered after a week. same response. card in process by priyanka. i demand adequate compensation considering the harrassment i have undergone and the amount i have spent on conveyance,parking etc just to withdraw cash. ihope to get some reddressal from you . suneet singh s/b acc no 10138110763 mob 09891725690.

SUDHANSU BALA BARAL

6 years ago

Sir,

Now I am woking at HYD.I have placed req for ATM pin re print req.It was infromed me that after 7 days I can collect the pin by viviting to the branch.Thrice I have visted but no reslotion I get.
As me staying in HYD it is not possible for me to visit orissa several times for collecting the pin.My A/c is with Bhubaneswar main branch .The branch people also not responding to my query.
Please look in to the matter.

manjula

6 years ago

TO, Dated: 17-2-2011
THE CHAIRMAN,
STATE BANK OF INDIA,
CORPERATE CENTER,
SB BHAVAN,
MADAME CAMA ROAD,
MUMBAI – 400021.

Respected Sir,
Sub: - Request to repay my auction amount paid.
Ref: - auction dated on 14.10.2009 for plot No: 317/B at
SrinilayaTownship Badagpet, Saroornagar, R.R.Dist. ,
Andhra Pradesh.
***
I M.Manjula a customer of SBI samseergunj branch, Hyderabad, Andhra Pradesh, participated in auction on 14-10-2009 for the plot no.317/B at Sreenilaya town ship , Bademgpet, Saroornagar, R.R.Dist, Hyderabad, Andhra Pradesh and I paid the amount of rupees 1, 65,250/- (Rupees One Lakh Sixty Five Thousand Two hundred and Fifty) on the same day.

I approached bank for housing loan, where I am having a salary account and they laid number of queries regarding link documents, and according to them the auction is not a fare auction regarding Sarfaesi Act 2002, it will not be enforced as the town ship is constructed on agricultural land and so, they assume that in future the above said flat may not have a good title for a transferor.

To the above said issue I visited the bank number of times, they were enable to provide me the link documents and agriculture conversion certificate and I even took legal opinion regarding the above matter and they reply was that the above document will not be valid and will not have good title for a transferor. The amount I paid was still in outstanding at BCA/C. I request the same to the bank manger to return my hard earn money (auction amount) in this issue the branch bank manager approach was very time postponing and misleading. The same matter was also forwarded to AGM but it is still it is on is table.
Being a working women I visited number of time to bank but I didn’t received a proper response from the bank it unnecessary increasing my mental tension, please do needful help as early as possible.

As my purpose is not served and I cannot forgo a huge amount of rupees
1, 65,250/-. (Rupees One Lakh Sixty Five Thousand Two hundred and Fifty). I request you to be benevolent on me and repay my amount paid back. So, far as more then one year had lapsed and I request you to relieve me from this mental and monitoring agony.

Sir, kindly please look into the matter as early as possible and please repaying my hard earn money back (auction amount).

Thanking you.
Yours faithfully,
M.Manjula (8019591088)
AccNo.30021360499
SBI, Samsergunj branch.

sarala

6 years ago

i have a complaint about ur staff which is personal and it should be confidential for that reason only i am asking the email address of the higher official so that he can help me to solve my problem pl.

sarala

kumar gaurav

6 years ago

dear sir i have a account in pune dhankaudi branch and on 31st dec2010 i withdrawd money from my atm card but the amount was deducted from the account i had complained several times on c.c and had given thrice written comlain but nothing yet had happened pls help me

Pankaj Singhania

6 years ago

Sub: Direct Tax wrongly credited in other A/c by SBI Bankers.

Sir;
This is to inform you that I Partner of Tirupati Traders had deposited direct tax in our broker's PAN/TAN A/c no.JLDT00630A in SBI Treasury Branch, Ludhiana on 14-06-2010.Whereas the banker's had wrongly credited to PAN No.JLDJ00630A.After receiving the online receipt through NSDL we approached the bank but no one listen to us. Please look into this matter at your earliest and do the needful.
Waiting for your positive reply.
Thanking you
Pankaj Singhania
9876399099

Ram avtar singh

6 years ago

i had booked my railway ticket and payment through SBI debit card (gateway). my account was duly debited by bank amount rs. 413.00 on dated 12 march 2011. my account no. is 30601428522.

sanjay kumar

6 years ago

sir your person is no action and no detail of my account but why chandni chowk very --- imporant three month my money debit my account 104077 rupes and you pay detail of account or you not work in 48 hour this my account is 3month your only 48 speak but no work you problem no action dgm agm or other person and my perison total 22032 rupes i have total your no intest this rted army person fist rti 2005 issue detail give me last 1990 to 2011 and court of apply fist you see this account but ofter no apply this person thank you

umakanta Das

6 years ago

Sir,
My agri project on cold storage in the name of Trahi Achyuta Coldstorage is under process of sanction under RBO 5 Regional office Bhubaneswar.
I request your honour to kindly sanction the project atleast and I promise and I undertake to purchase additional land before disbursement.On this ground the SANCTION should not be deffered.Technical Vetting and Pre Sanction has already been done sir,
I am help less.Kindly guide me and help me.It is march.If it will be pending,
it will be again pending for months together.With kind Regards Sir,
U.K.DAS

Electric vehicle policy likely this fiscal

The government will formulate rules that will encourage research and development of electric vehicles in India

The government is contemplating a policy to promote electric vehicles in the country, for which an inter-ministerial group is currently conducting a feasibility study.

The policy, which is aimed at providing guidelines on how to promote electric and alternate fuel vehicles in the country, is likely to be finalised by this fiscal.

According to sources close to the development, a core group has been formed with representatives from different ministries, including road transport, petroleum, heavy industries and environment, and the National Manufacturing Competitiveness Council (NMCC).

While the feasibility study has been going on under the NMCC, the final draft as well as implementation of the policy will be carried out by the heavy industries ministry, sources added, reports PTI.

“The main task before the group is to find ways how to encourage research and development of such vehicles in the country. It is studying possible options to incentivise the electric vehicle industry,” a source said.

Promoting formation of joint ventures, especially in the electric vehicle (EV) battery manufacturing, making it easier for technology transfers are also some of the areas that the policy would emphasise, sources added.

The feasibility study is also looking into the infrastructural aspect to support such modes of transportation. It will evaluate how more charging points can be set up across the country.

The core group is also holding discussions with all the States for promoting alternate fuel technologies.

Currently, 4% excise duty is levied on production of EVs, while the components for EVs come under the 10% excise duty net, which the manufacturers are urging the government to waive.

The import of EVs attracts 14% duty and there is a 4% duty for import of parts.

On the sales front, while Delhi, Rajasthan, Uttarakhand and Lakshadweep do not levy any sales tax, other states charge 4%-15% sales tax or value-added tax (VAT).

"The state of affairs in the EV industry is very poor. The industry will not survive very long, unless there is government intervention. We need government support," said Society of Manufacturers of Electric Vehicles (SMEV) president Naveen Munjal.

The industry can create a niche for itself in three-five years, but with government help it can be done much faster, he added.

The size of the EV industry is pegged at about 85,000 units annually.
 

User

COMMENTS

Syed Fohara

1 month ago

Sir i am student .I want say about my scholarship it is executed to different account which is already closed the officers were saying that if the amount returned by bank its self they will execute to my current account from 3years I am eating for bank reference they are not yet retuned the amount .kindly take any action on my complaint please .
Thanking you,
Your 's



faithfully,
Syeda fohara.

Syed Fohara

1 month ago

Sir i am student .I want say about my scholarship it is executed to different account which is already closed the officers were saying that if the amount returned by bank its self they will execute to my current account from 3years I am eating for bank reference they are not yet retuned the amount .kindly take any action on my complaint please .
Thanking you,
Your 's



faithfully,
Syeda fohara.

Syed Fohara

1 month ago

Sir i am student .I want say about my scholarship it is executed to different account which is already closed the officers were saying that if the amount returned by bank its self they will execute to my current account from 3years I am eating for bank reference they are not yet retuned the amount .kindly take any action on my complaint please .
Thanking you,
Your 's



faithfully,
Syeda fohara.

Nithya Bose

4 months ago

respected sir,i have applied for sbi po exam 2016 but i have a problem in the fee payment section.while applying po exam i got a message about ur transaction amount was sucessfully completed and balance has been deducted from my main account but whenever i open my profile again it shows fee payment section........and i didn't receive any message from sbi still my application is not sucessfully completed........last date for sbi po exam is 24.5.2016........sir what to do...........please reply me soon.....

Why China’s currency policy is inflexible

The main effect of a currency revaluation would be a shift of wealth from the Chinese government, the manufacturing sectors, infrastructure investment, and real-estate developers to Chinese households

According to US Treasury Secretary Timothy Geithner, China eventually will decide it needs to adopt a flexible currency exchange rate policy. Sorry, Mr Secretary, it won’t. It is not that adopting a flexible currency exchange rate is against China’s national interest. On the contrary, there are many benefits to China that would flow from revaluation.
 
China’s failure to adopt a flexible exchange rate is a political decision, not an economic one. While I agree that this is correct, I do not believe that it has much to do with Chinese leaders’ annoyance with international pressure or foreign relations. I believe that it represents something far more serious, the inability of a political system to change.
 
The revaluation of the renminbi is not something that should be looked at in isolation, but part of something much larger. China has pursued a policy that has been very successful helping the country achieve astounding rapid development. Although there are many elements, the basic concept has been growth based on investment over consumption and export over domestic consumption.
 
All government policies, all laws, all regulations distort economic behaviour. When the rules change, so does the game. Understanding exactly in what ways the distortions will affect economic behaviour is exceptionally difficult. In the United States in the early 1990s, the Congress passed a law to cap ever-rising executive salaries. This resulted in the creation of alternative forms of compensation like options. These were supposed to align management’s interests with those of shareholders. Often they had the reverse effect when management manipulated both earnings and options.
 
In emerging markets, the effect of policies, laws and regulations can have an even more disastrous effect. In Russia a rent-seeking bureaucracy utilises these mechanisms to invent new ways of extracting bribes and robbing businesses. Law and policy can function in two ways. It can limit the State or it can extend the power of the State. In Russia, the State bureaucracy is supreme. Since there is no mechanism to limit its power, there is no reason for rent-seeking bureaucrats to curb their plundering of wealth from natural resources or administrative interference in the market.
 
Market distortions create winners and losers. In the US, the rules regarding executive compensation became a spectacular windfall for the management in many companies. In Russia, the rules provide enormous benefits to the bureaucracy and government officials. The losers in the US have been shareholders. In Russia the losers are businesses, economic growth and most of the population. Obviously the winners have powerful economic incentives to maintain the present system.
 
China has a similar problem. A revaluation of the renminbi would hurt exporters—often State owned—and their employees. Their costs would go up and their revenues would go down. A Chinese exporter must pay for labour, utilities, rent, and any local inputs in renminbi. Most of Chinese exports are valued in dollars. So the value of anything that the exporter sells would go down relative to his costs. Another group that would lose from revaluation would be any company that has stockpiled goods or commodities priced in dollars. For example, Chinese State-owned companies at various times have stockpiled both copper and oil. If the renminbi were re-valued, the value of their stockpile would immediately decline.
 
In contrast, the winners in the Chinese economy would be just about anyone else. In a global economy, much of what we have or use comes from international trade. So although China is a huge exporter, it is also a huge importer. For example, all of the imported food, high-tech products, oil and many natural resources that China uses would immediately decrease in value.
 
The Chinese have stated that a cheap renminbi has allowed Western countries to have low inflation, low living cost, and a higher standard of living. But as Professor Michael Pettis of Peking University points out, a cheap renminbi “implicitly taxed Chinese household consumption to subsidise Chinese manufacturing and employment growth, it also implicitly taxed US manufacturers in order to subsidise US consumers. American consumers got cheaper (foreign) goods, American manufacturers had to compete against lower (foreign) prices.”
 
Professor Pettis goes on to state that the main effect of a revaluation would be a shift of wealth from the Chinese government, the manufacturing sectors, infrastructure investment, and real-estate developers to Chinese households. Exactly!!
 
The people with the power in China have done very well with the present set of rules and that is a large problem. They see no reason to change and so won’t. So don’t expect a major revaluation of the renminbi any time soon.
 
The recession has caused major disruptions in the economic fabric of world trade. The genius of market economies is that they can adapt to almost any change provided the rules can change too. The renminbi is a problem, but the policy and the inability to change it represents a greater problem for both China and the world.

(The writer, William Gamble, is president of Emerging Market Strategies and can be contacted at [email protected] or [email protected]).
 

User

COMMENTS

AJ

6 years ago

Good article.
Would have been easier on the uptake if the impact & counter measures from an Indian perspective were also added.

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