Ashwani Kumar Rana, Founder of Voice of Banking has written a letter to Finance Minister Smt. Nirmala Sitharaman, giving some suggestions to the FM in the interests of the costomers of Public Sector Banks. The contents of the letter are given below for the benefit of the viewers of www.indianpsu.com –
Smt. Nirmala Sitharaman,
Hon’ble Finance Minister,
Ministry of Finance,
Govt. of India,
In the interests of customers of the Banks few Suggestions for the Budget
Voice of Banking wish to give the following suggestions in relation with the customers of the banks for considering in the upcoming budget.
Special insurance policy for the depositors having deposits of more than 5 lakhs in banks: Insurance cover for bank deposits was revised to Rs. 5 lakhs from Rs.1 lakh by your Government. According to the Banks 98.3% Depositors will cover under this Scheme.
This has brought great relief to the customers of the banks and they are feeling safe. Nevertheless, the customers having deposits more than 5 lakhs feel that their deposits in banks are not safe, and a Special
Deposit Insurance Policy should be introduced for them by which customers can keep their deposits above Rs 5 lakhs safe by paying some premium.
We take insurance policy for our health, house, car, air travel and train travel. In such a situation, if the government starts a special insurance policy for bank depositors as well, then by paying some premium, people can also protect their deposits in banks. This move of the government will bring relief to the customers, while customers from banks will not invest their deposits in other monetary outlets like chit fund, crypto currency, share market, etc.
Unified Grievance Portal for customers of banks to register complaints: For the convenience of the customers, the Reserve Bank should also introduce a Unified Grievance Portal for all complaints of customers of all banks and non-banking financial companies. At present, for any kind of complaint, the customer makes his complaint to the concerned bank, most of the customers separate their complaint to the bank’s branch, customer complaint center, regional office, circle office, head office and even to the chairman of banks, Due to which different proceedings are started on the same complaint at all places and there is loss of manpower of the banks for the same complaint.
If a unified complaint portal is introduced for banks also, then the customer and bank machinery will be more comfortable in resolving the complaints in shorter span of time. Once the complaint is registered in this Integrated Grievance Portal, and not resolved within a stipulated time frame, then such complaint will
automatically enter in the portal of Integrated Ombudsman Scheme of Reserve Bank of India for future course of action. This system would certainly bring down the percentage of common complaints to a very lower level.
It is hoped that in the budget, your good self will pay attention to our above suggestions and take appropriate decisions keeping in mind the interests of banks and customers of banks alike.
Thanks and regards.