Wednesday, November 25, 2015

Aadhaar Number = Bank account Number , Unique Bank account Number all over India and Bank account Portability- Consolidation of Public Sector Banks To Have Strong Banks

Unique Bank account Number all over India and Bank account Portability

Aadhaar Number = Bank account Number 






Say No to Black Money 





     =    







Concept: Great revolution in banking reform

Bank account is Basic Right of Indian  Citizen and No charges should apply on basic need.

Observation/challenges: 
1. Unwanted charges applied by bank in the name of minimum balance 
2. Unwanted charges by bank in the name of  forced SMS service
3. ATM yearly charges
4.  Hidden money / Black Money / Number of account hold by people

Benefit of Unique / Single account Number. 

1. Single Account will bring lots of transparency in system, no black money as single account number link with bank number.  
2. Uniformity in banking sector , 
3. Make more accountable banking system,
4. Bring Service oriented mind set in banking segment.
5. Bring lots of transparency in banking system,
6. Competitive environment  make banking segment stronger
7. Indirect increase the liquidity in the market due to this movement, 
8.More job , more industries , indirectly growth of whole country economy. 
9. Great Government Control 
10. Simplify Tax System as Single bank = Single citizen= aadhaar Number= Single TAX Number


Government can give special tax benefit to support India's first theme and support for simplify tax system . 


Improving performance of Public Sector Banks

The information provided below highlights the performance of Public Sector Banks vis-à-vis Old Private Sector Banks and New Private Sector Banks. It can be observed that there is a huge scope for improvement of Public Sector Banks in all parameters, especially efficiency parameters.


Regularising terms and condition in banking sector
Banking sector should have service oriented mind set. When they are playing as business point and implementing unwanted charges to increase profit then penalty clause should be there
Frame work required in banking terms regulatory compliance
1.               Net Banking
2.               Mobile SMS Charges
3.               KYC norms as per RBI. 
4.               Mobile number linking from  bank a/c.
5.               Email linking from bank a/c.
6.               SLA – Service level agreement for each process Time bonded activity
7.               No additional Charges for SMS , ATM,
8.               Penalty clause for bank also if they are deducting any unwanted charges and not reacting on time.
9.  We have a feeling after demonization people has deposited money in account now bank has increased minimum balance charges  from 1000 to 5000 with wrong intention to increase profitability of bank . it is malpractice with general and innocent public .
10 Minimum balance maintaining charges
11. Account closer charge as we do not like quality of service 

Looking for intervention from President Secretariat /PMO India Office / Ministry of Finance Office / RBI 

Transparency is Key for good growing business.

Looking for Corrective action from government on SBI or other Private bank(like HDFC, ICICI axis bank etc) Policies amendment that 


1.               Public can submit request at any branch in India. 
2.               Approval should be on mail or mobile one time password authentication. This is security requirement and bank should not be charge any thing extra as a social responsibility as a government bank. If they also behaving like other private bank (profit center / Business) then for bank also penalty clause should be mention.
3.               For adding third party name we should not be able visit again and again home branch for approval it should be approved on registered mail on a/c. this is loop pole at SBI process.
4.                I know I required ATM debit card  but process is too tough in a fist visit I have to apply  then need to visit branch for password , do you really thing policies in the name of security  is user friendly and as per market trend this should be  online generated or on mail. Request should be online or on mail or customer care
5.                Check book request should be online or on mail or customer care
6.                SMS charges. requested to stopped this facility because banks  (HDFC, SBI charging 15/- + service charge =17 /- per quarter but this does not mean that bank will removed my mobile number  this is against KYC and Banking security Policy.
7.               If damage note comes from bank ATM M/C  and bank harassing customer by wasting customer time and exchanging the note , so bank is not giving any favor it is bank fault that they have inter wrong note so that customer get trouble their should be some penalty clause for bank also means bank need to pay 5 to 10 time of amount for their mistake.

8.               Fake note Issue from bank ATM . If Fake note comes from Bank ATM  then bank harassing customer to go to ATM and banks and showing its vendor mistake we have out source feeding ATM . no  witten rule information with bank and customer care how to handle this kind of cases. and after wasting 2 month of customer if bank returning same amount to customer . So it is not fare. because this is bank mistake why should customer bear . 100 times of penalty have to be paid by bank for their mistake.


 RTI Filed By Consumer


Case- 1: I have asked for net banking, so they have given only view only  what is it mean ..next time after six month during my home town visit again i requested for third party transaction  then they have given , today I want to add benefice again i need to visit home SBI Branch  that is not user friendly

Case-2: Mobile SMS Charges: I have requested to stopped this because mobile SMS Charges bank are charging 17 /- per quarter but it does not means to removed Mobile number  linking from  bank a/c.
SBI -failing in online connectivity - and KYC nomes as per RBI. 


Case-3: I have also requested 2 time in written application in bank  to update my e- mail ID  but still it is not updated otherwise it is really helpful  during the add benefice  to check and full fill security related requirement.

I have my personal feeling SBI bank is fail in security related  requirement feature . as concern as security related feature it is banking requirement  so no charges has to be deducted for e-mail alert or mobile SMS alert. this should be as per RBI  security requirement. SBI only difficult the process but really not working in public benefit. SBi also behaving like other private banks for their own benefit only. but i feel banking should have some social responsibility  they should not establish charges for everything. 

Case-4: Debit card was damage so I have requested to closed on 4th Feb2014 but still bank has charge 112/- on 10 Feb 2014 how this kind of mistakes done buy banking. there should be penalty clause on bank also. 



Previous Reference : 
PMOPG/E/2015/0155079
PMOPG/E/2015/0078706
DEABD/E/2015/06883

                                                                                                                   

Government initiative :




Finance Minister Shri Arun Jaitley: Experts’ Group Would Be Set-Up Immediately to Look Into All Issues Related to Consolidation of Public Sector Banks To Have Strong Banks

REf: PIB 5 March 2016
http://pib.nic.in/newsite/erelease.aspx


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