Anti profiteering even in Central Govt Postal department.
The most anti profiteering is being done in Dept of posts as they never refund amounts on Indian postal orders to purchasers after a prescribed period, never have auto renewal facility for senior citizen Saving deposit, and rate of Saving bank deposit is paid on overdue deposit (After Maturity) on monthly basis till last month of the closing date No one is aware of how they have framed these rules and when and the basis on which these rules are framed and the same is being continued even after computerization. Even this Senior Citizen Savings bank deposits are renewed only once and no more chance of renewal. They have got some weird rules that even literate deposit should get a witness for the nomination when the nomination is supposed to be a secret. Except for basic information, they never upload the entire directions in the website about such terms of repayment on overdue deposit, the period considered (Months or days). Unfortunately, most of the villagers depend on post offices alone, though Banks are having well laid down norms, controls, grievance mechanism, customers' association, as villagers are not having the opportunity of comparing the facilities. Even postmasters are not aware of the rules and the simple answer is calculation is done by computer, they state that they do not have any say or knowledge on how interest is arrived. They have to review the systems with Banks and amend rules and must upload such rules and regulations in a clear manner. more
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My experience with the postal dept is 1) Inefficient 2) System down or computer/server problem.This make the work very slow and you have to make many rounds for any work. more
Nov 22
Doesnt the Post and Telegraph office belong to the government? where are the rest of the people that complain against small companies for the products they desperately want and not available anywhere else? more
Nov 19
In my view the issue is not of an anti-profiteering but an inefficient business practices. While there is no senior citizen saving bank deposits in the postal department, the postal executives specially the post master etc are not expected to know as to how the rules have been framed out. They are expected to follow the rules only. Regarding rules, the Postal department is urgently to look into policy issues specially on the banking products as they are expected to follow the current technologies. The Postal Department is still calculating the SB interest on the minimum balance between 10th and last day of the month as against bank policy of daily balance basis. There is still no online transaction features provided. The local cheque still gets credited in about 4-5 days of the deposit. The consumer grievance system is poor. Yes it is a fact that the intellectuality level of the staff needs improvement. more
Nov 19
What kind of renewal is needed for Savings Bank A/cs. For your information, Savings Bank A/Cs are neither matured nor there is any provision for payment of overdue interest on such kind of a/cs in any financial institution including banks. How a Savings Bank A/c becomes overdue, as you mentioned in the post, is not clear. Since there are so many lacunae in the post office services, you can easily shift your entire banking needs to a commercial bank. As far as villages are concerned, banking services are now easily accessible by most of our villages, as most of the villages with moderate population are now having a branch of some of our nationalised banks. more
Nov 17
