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'Banking Ombudsman' should be renamed 'Banking Lokpal' : banks
By Vaibhav Aggarwal
Feb 11, 2011
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The employee unions of banks have suggested to Reserve Bank of India that the customer grievance cell called Banking Ombudsman should be renamed as Banking Lokpal so as to make it more relevant to the understanding of the common man.

The special committee set up by the apex bank in this regard has agreed to the suggestions of the bank union keeping in view the customers' benefit.

The idea was given by the Indian National Bank Employees' Federation (INBEF) to the committee headed by M Damodaran. Customers hailing from rural areas typically were having problems in understanding the meaning of the term 'Ombudsman' and thus did not know their rights with the grievance cell.

Subhash Sawant, general secretary, INBEF, said, "Many bank customers mainly from rural customers do not understand what ombudsman is all about. When we ask them to file a complaint with the ombudsman, they simply ask us, 'What is ombudsman?' "

Amongst other suggestions were to increase the count of Ombudsman offices in the country to aid better to customer grievances and also to start a special cell catering specifically to the senior citizen class.

In its reply to IBNEF with respect to its suggestions, the committee said, "The title of the RBI Banking Ombudsman may be changed to a simpler, easily understandable one. The area of operations of the Ombudsman may also be enlarged." In a letter to the Federation the committee also said, "The number of pensioners is increasing. Special counters for pensioners may be considered especially during the first week of every month."

"The committee has agreed in principle to our recommendations. We welcome the response on the matter of senior citizens. About the matter of changing the name of the banking ombudsman, we will know when the report is out," Mr Sawant said.


 


(Comments Posted : 2) Post Your Comments
1. Ideal Equipment for control of Issuance of fake notes from ATMs and Banks’ Cash Desks & Infiltration of Fake Notes in banking Channel

The Accurate Currency Notes Authenticity check process, through most effective and
Compatible- to-job Machine, has been an urgent need of time for our Banking Industry for Installing at Bank branches, ATM centers, currency chests etc

Lots of Confusions, Misconception & Misunderstanding have been prevailing amongst most of
the Banks in our Country with regards to the type of machines which are required for Authenticity Check & machines that is required for Sorting of Notes; while grossly
Undermining the serious differences in reality and technicality involved in both the operations.

Scientifically both the operations on the notes are mutually exclusive for obtaining respective accuracy in both these different operations on currency notes. However, both the operations are taken as Synonymous and mutually inclusive.

The currency authenticity check has been absolutely and directly concerned to national
Economy, crime, loss of value etc; requiring high level accuracy of detection of fake notes Vis- a -Vis less relevant currency sorting process which is concerned only with discrimination of Notes on the basis of qualities, denominations, orientations, face up & face down arrangements in the packets for convenient handling of genuine notes.

Currency sorting machine have not bee meant for detection of fake notes and validation of genuine notes; as good quality of fake notes with identical images to that of genuine notes can pass as “Genuine” on the basis of matching of images. Practically thinking, the Fabrication of identical images on fake notes has become easy tasks now a days by uses of high quality of color scanners, color printers, computers etc.

The sorters just can discriminate the images and do not verify the physical and chemical properties used in printing the notes. There has to be substantial variation between the material used in the fake notes and materials used in the genuine notes even fake notes are made by specialists with high end infrastructures of generating the fake notes in bulk with other states supports. This is because every security features if examine in details has large number of their own independent technical specifications.

High Scanning Speed of sorters kills the accuracy of authenticity as with high speed large number of check points are skipped without any check of their respective authenticity, while absolutely depending upon apparent images only.

Evidently there has been large many instances happening, where in, although notes are said to checked through sorting machines, at the end have been turn out as fake consequently.

In case economy has to be protected properly against any level of forgery and against economy wars wage by other countries , the sorting machines are to be replaced by mini forensic lab type currency authenticators at all bank desks.

RBI is very clear in their guidelines to Banks that authentication is the pre requisites of sorting process but most of banks do not follow or understand the message issued by RBI! Most of the Banks follow sorting first and authentication for sorted notes later, as secondary process. They manually examine the unfit (non re issuable) sorters’ rejected notes to decide which one out of the sorted and rejected notes are fake.

The Banks presumes that issuable notes passed by the sorters are 100% genuine only. This process allows fake notes to escape as re issuable genuine notes, simply on the basis of matching of fake notes’ images with genuine notes’ images, as scanned by sorters through image sensors.
Kirit Vora (Posted: Sep 30, 2011)
2. SIR.

ALL BANKS HAVE RESORTED TO CORE BANKING SOLUTION WITH INTENTION TO EXTEND FAST, HASSELE FREE,L SERVICES TO CUSTOMERS. HOWEVER IT IS SHOCKING THAT ONLY ACCOUNT HOLDERS ARE PERMITTED TO WITHDRAW CASH FROM OTHER BRANCH OF A SAME BANK ,THAT TOO WITH CERTAIN LIMIT. WHERE AS CASH DEPOSIT IS BEING ALLOWED EVEN BY THIRD PARTY FROM OTHER BRANCH OF SAME BANK. WHERE IS LOGIC ,JUSTICE?

SENIOR CITIZENS ARE NOT BEING OFFERED CONCESSIONAL RATE OF INTEREST ON SAVINGS & TERM DEPOSIT BELOW 6 MONTH PERIOD.INCOMETAX, INDIAN RAILWAYS ,STATE TRANSPORT HAVE OFFERED CONCESSIONS TO SENIORS.

BANKS ARE EARNING HUGE PROFIT ON LOW COST DEPOSITS, HOWEVER IT IS PAINFUL THAT BANKS DO NOT OFFERE REASONABLE RATE OF INTEREST ON SAVINGS DEPOSITS, DO NOT PAY INTEREST TO CURRENT DEPOSITORS BUT LEVY SERVICE CHARGES.

WHEN RESERVE BANK INCREASE REPO /REVERSEREPO RATE, BAKS ARE RAISING INTEREST RATE ON ADVANCES /LOANS, HOWEVER INTEREST RATE ON SAVINGS DEPOSITS REMAINS UNCHANGED.THIS SPEAKS AVBOUT SELFISH MOTIVE OF BANKS ,EXPLOITATION OF CUSTOMERS.

EVEN INSURANCE COVER OF DICGC IS NOT INCREASED AFTER 1993.
BANKS GIVE HUGE PUBLICITY TO ATTRACT 'DIAMOND CUSTOMERS'
BUT DO NOT CARE TO PROTECT CUSTOMERS INTEREST.

PRIVATE BANKS HAVE RAISED WITHDRAWAL LIMIT FROM THEIR ATMs,
EVEN ADDITIONAL ATMs ARE INSTALLED SO CUSTOMERS CAN WITHDRAW CASH ,HOWEVER NATIONALISED BANKS HAVE IGNORED CUSTOMERS REQUEST ON THIS SUBJECT.

FAKE NOTES RECEIVED FROM ATMs, IS NOT BEING EXCHANGED BY BANKS. EVEN FAKE NOTE RECEIVED FROM CASH COUNTER IS NOT BEING EXCHANGED ONCE CUSTOMER LEAVES COUNTER. IF CUSTTOMER STARTS COUNTING NOTES ON COUNTER PLEASE IMAGINE WHERE QUE SHALL END ?

CRORES OF RUPPEES ARE LYING IDLE IN DECEAED ACCOUNTS WITHOUT NOMINATION, NOBANKS HAVE CARED TO CONTACT FAMILY MEMBERS OF DECEASED CUSTOMER,IS THIS CUSTOMER SERVICE ?

THESE ISSUES ARE PENDING SINCE LONG. BANKS HAVE FAILED TO PERFORM THEIR SOCIAL OBLLIGATIONS.

C/33 PARVATI MANSION JAGDIP.H.VAISHNAV
D.B.MARG. RETIRED MANAGER -BANK OF INDIA
MUMBAI - 400007
TEL NO -23073612
JAGDIP VAISHNAV (Posted: May 22, 2011)
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