Software updation in Banks

banks should have more sensitive towards customers and these days they are only stick with rules and that cause the conflict with customers, only banks works for earning and some where lacking of care. more  

In this regard, i will appreciate HDFC bank. They inform me 15 days in advance of my completing 60 years - about change in my status to Senior Citizen & related benefits. On the contrary, Kotak Mahindra Bank took more than 3 days to open my FD as senior citizen. If bank has date of birth & KYC is submitted, it should be automatic like at HDFC bank. This is not expected from esteeme bank like Kotak. Its a matter of updation of software. Can RBI make a guideline & circulate? more  

While I agree with Sri Binani, I would like to add a few lines for the consideration of our members on the working of the Banks. As regards the notification from the Banks on the attainment of majority by an account holder, I would like to point out that as an exercise this has not been taken up by the individual Banks concerned. However, as all Banks have core Banking facility, it is possible to take a complete list of minor account holders attaining maturity on a day to day basis and a formal letter seeking compliance of various conditions can be sent to the individual account holders directly from the back office as is being done for other matters such as compliance of KYC norms and its periodical updation as mandated by RBI. It is in the Banks' own interest to get such accounts updated periodically so that chances of any potential impersonification is avoided and the concerned account holders informed well in advance to enable them to present themselves before the Banks and get their status updated officially. As regards the other point, if I get your point right, then it is with regard to the notification to the nominee in the case of deceased Depositors. In this context, it would be relevant to note that the process of settlement of deposits (claims) starts from the moment the intimation of death of the depositor is given to the Bank upon receipt of which information the operations in the account are first frozen until the completion & compliance of formalities stipulated by the Bank. However, once the intimation of death is received by the Bank, then they have to officially intimate the nominee (in cases where valid nominations exist) and to the legal heirs (where nominations had not been given by the depositors) to enable them to comply with the stipulated formalities. As such, the onus of intimating the occurrence of death of the depositor lies with the legal heirs & thereafter the process starts from the Bank's end. As a matter of public awareness and to remind our members, I would like to reiterate that NOMINATIONS can be given in respect of all Deposit accounts with all Commercial Banks & with Post Offices including safe deposit lockers. If by chance any of our members have not given nominations till now, they may well do so immediately in order to overcome the cumbersome procedure of a settlement of claim in respect of deposits (more complicated in respect of safe deposit lockers) so as to facilitate an easy settlement without hassles. In this context, I would like to highlight the fact that all valid nominations are to be noted by the Banks and an acknowledgement to be obtained from them & kept with the individuals for use at a later date. Our members may be aware that the name of the nominee will not be mentioned in the Deposit receipt except mentioning that "nomination registered". I hereby request all our members to spread this message of noting the nominations with the Banks & Post Offices to as many people as possible so as to enable their successors to enjoy the benefits of the hard earned money without any delay and hassles. Incidentally, during the lifetime of a depositor, a valid nomination can be cancelled and modified by submitting necessary forms to the concerned Banks. If anyone wants more information on this subject, they may correspond with me and I shall be pleased to share such other information on matters related to this subject as far as I know being an ex-banker myself(my e-mail id: madhukarks@gmail.com). more  

I do agree with Mr. Binani. It is high time that banks take action and instruct and trained their staff in customer care and everything should not be left to Customer Care Service. While depositing cheques it is now mandatory that on the back of cheque A/c number of depositer is written and on the back of pay-in-slip telephone number of Account holder is written but very few account holders get any call from concerned staff if the cheque is not cleared due to some technical fault and not for "unsufficient Fund". more  

I concour with Mr. Satish Raheja. more