Yesterday Zimbabwe cumpulsorily converted Bank Deposit holders Zim Dollars to USD @ 5$ = 175,000 Trillion Zim Dollars. In 1980 One USD was equal to one Zim Dollar. This will be effect of gross mismanagement which Indian politicians/Bureaucrats and Banksters should understand.

One can also simply ask for a complaints book. Most bank hesitate to give such a book to customers because a copy of the complaint automatically goes to the Ombudsman, as I understand.

Well.. Such cases are all over the place.. I attempted octroi on the website of MCGM, Maharashtra in Aug last year. I had purchased a car out of Mumbai and had to bring it to Mumbai for registration. That requires me to pay the Octroi tax. The first attempt to pay online from my Axis Bank account failed. I did not get the unique transaction code. I thought this is not a problem as the money would be credited back to my account due to the transaction failing. So I tried again and this time used another bank's account. This time the transaction was successful and I was able to generate the octroi paid certificate and brought my newly acquired car to Mumbai. I kept waiting for the money to be refunded for almost a week. Nothing happened. Then I started enquiring about the transaction process. People chided me when I told them that I tried using the online channel for making the payment instead of paying thousand rupees to some agent for getting the job done. One person actually told me that I deserved to suffer for trusting the government's service. Nonetheless I checked for the refund department - located in Kanjur Marg. when I reached there it was the usual government office story. Files were all over the place, scattered and with kilos of dirt on them. People kept asking me to go to some other table. Finally I spoke to a senior person there who guided me to a junior guy. This guy told me very candidly that any refund should not be expected before a couple of years because the process involved many staff and departments within MCGM. I have made at least 4 more visits since the and every time I am told that the refund request has moved to the next table. There is no one who proactively contacts me to speak about the process. I have no visibility when the refund of the INR 40000 odd would be made or if it would be made at all. It's mind numbing that such inefficiencies are tolerated in our society and the government servants think that they are above everyone else here and are not answerable to anyone for their conduct.

Kiran Chaptekar need not go thro this much hassle. 99% he will get his money because if account is debited but cash not dispensed the undelivered cash will in the divert bin inside the ATM cabinet only. Since ATM needs to refilled at time of fresh loading this much amount will be surplus. So the Bank staff or out sourcing agency would have noticed this difference in amount while reconciliation. Now a few issues which Kiran Chaptekar should clarify. was he not having mobile alert which would have alerted him about the debit of Rs 20,000/- which was not dispensed if not then when he realised that Rs 10,000/- was debited but not disbursed.
All said and done Kiran Chaptekar should get his money back. In case the same is not done he should demand for ATM cash loading details prior and post his transaction for this particular ATM. There is strong possibility of the cash loading persons are not cheating the BRANCH OFFICIALS of Bank of Maharashtra might not have been cross checking once a month which is mandatory . Vinita Deshmukh may take up with R.Athmaram ED of BOM who being in IT Dept with Andhra Bank will be very much aware of reconciliation of ATM cash and also the duty of branch officials to certify once every month that the cash of ATM is reconciled electronically with physical cash.

When it comes to refund and paying compensation most bank avoid to pay unless there is directives from consumer court or ombudsman.ombudsman. Hence forth compensation for delay should deducted from officer liable to make timely payment.