Dearfriends, pl see below the consumer compensation policy of PNB. Any one affected, can try this remedy
Compensation Policy of Bank is designed to cover areas relating to unauthorized debiting of account, payment of interest to customers for delay in collection of cheques / instruments, payment of cheques after acknowledging stop payment instructions, remittances within India, foreign exchange services, lending etc. The policy is based on principles of transparency and fairness in treatment of the customers.
The objective of the Policy is to establish a system, whereby the customer is compensated for the financial loss due to deficiency in service or an act of omission or commission directly attributable to the Bank
The customer, as far as possible, will be compensated without having to ask for it.
The Policy covers only compensation for financial losses which customer might incur due to deficiency in the services offered by the bank which can be measured directly and as such the commitments under the Policy are without prejudice to any right the bank will have in defending its position before any forum duly constituted to adjudicate banker-customer disputes. more
Compensation Policy of Bank is designed to cover areas relating to unauthorized debiting of account, payment of interest to customers for delay in collection of cheques / instruments, payment of cheques after acknowledging stop payment instructions, remittances within India, foreign exchange services, lending etc. The policy is based on principles of transparency and fairness in treatment of the customers.
The objective of the Policy is to establish a system, whereby the customer is compensated for the financial loss due to deficiency in service or an act of omission or commission directly attributable to the Bank
The customer, as far as possible, will be compensated without having to ask for it.
The Policy covers only compensation for financial losses which customer might incur due to deficiency in the services offered by the bank which can be measured directly and as such the commitments under the Policy are without prejudice to any right the bank will have in defending its position before any forum duly constituted to adjudicate banker-customer disputes. more
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Present law states that HUF property to be equally shared by all descendants, including ladies i.e. mother/widow, son/s and daughters. In case of Next generation's any person is not alive then his/her hairs are entailed to the effect of his/her share, only. more
Mar 15
By cash less transactions, Banks save lot of money on staff, stationery etc as the same directtly debit/credit the a/c by computers. Therefore no justification of charges on cash less transactions. more
Mar 11
When this policy came into force and has it been announced? I have not seen any such policy change of the banks more
Mar 08
A good initiative of PNB, whether it is on its own or under any directive of the regulator, RBI. In fact, the consumers have been clamouring for a compensation amount that is equal to the policy of charging interest etc. on account of unintended lapse on the part of customers. There should also be a refund of taxes charged from consumers on such erroneous transactions. It is also an occasion for me to mention that there is no occasion for Service Charge on banking transactions that is in much talk about these days. Service Charge by any service provider, whether a bank, professional like advocate, doctor, or a plumber or repairers of machines like washing machine, coolers, refrigerators, etc., is ridiculous. A business establishment is opened after calculating the cost of delivery of a service, and there is therefore no occasion for additional Service Charge. Banks receive a lot of money in deposit which is used by them in various forms e.g. loans to trade and industry, house building, etc. and charge heavy interests. Such interests are not shared with their clients whose money is invested by way of loans. The interest earned is pretty substantial to meet with the services provided without any charge, what to speak of Service Charge. Changing of mode of payments from cash to banking mode must not be taken as an opportunity to make hey while the sun shines - increasing dependence of consumers on banking service caused by the government policy. Mind it. This moving of business transactions from cash to cashless is a windfall insofar as the cash deposits are concerned that are again the opportunity to increase the banks kitty for using the same to earn more by way of interest. Further, it is more through the Savings Bank Accounts than the Current Account that the banks kitty will swell. So, the banks must not talk of charging Service Charge. more
Mar 08
