Bank sector

columbus

Well-Known Member
#1
If you look at weitage of BankNifty of top 7 banks which accounts
for 90% weitage,most of them are Private banks barring SBIN which has
around 9% weitage.Perhaps may be restrictions imposed by Government
that all trasactions are done through SBI or SBI-Subsidies.

That means all private banks are more efficient than Public sector
banks? Difficult to say.

Why public sector banks fall prey to Niravs & Mallayas ? Simple reasons
corruption and political influences.

If a farmer approaches bank for a meagre Rs.10,000 loan, he is asked to
fill some many forms ,so many identity proofs with so many surities.

Why a ordinary citizens should become BAKARAAS?

In fact ,in my case I am unable to withdraw money from my Saving Bank
( in different location) for last 8 months or so.The bank in question is
SBI.

I wrote to SBI authorities and RBI ,but no satisfactory replies from them.
I did not write to Chairman , SBI because it is a shame on SBI that a small
problem ,which ought to be solved in Branch level should come to his notice.
Now I am forced to write to him,which is a shame to SBI.

Any SBI-man listenening to me?
 

columbus

Well-Known Member
#2
I posted above message somewhere in last week of MAY-2018.
But none of the Bank Sector employee has responded.That means no SBI man
is not there in TRADERJI. I doubt.Just it shows CARELESSNESS.I do not need
a high official to respond to my message.Even as small official like a TELLER
can respond.That means it is 100% correct.

In public sector Banks , I do not see SENSE OF BELONGINGNESS in them.
Whereas in Private sector ,a customer is respected ,in PUBLIC SECTOR
bank ,they are least bothered about customers.In PVT.SECTOR bank ,they
know pretty well .they owe their existence to customer ,in PUBLIC sector
they feel that they owe their existence to Government.In public sector
one will get salary ,irrespective if they work or not.In private sector
you will find effeciet people at desk.I never saw a chaiwallah giving chai
to officers at desk in any Private banks ,which is quite common in Public
Sector bank.Really I do not understand,How one can drink chai leisurely
when there is a queue in front of the counter.


That explains why HDFC is ruling at price over RS 2000,whereas SBI is at Rs300.
Even FACE VALUES are taken into consideration HDFC bank should not be over
Rs 600. (HDFC bank face value= Rs.2 and SBI face value= Rs.1)That tells the story.

Anomalies do exist.My sincere apologies to those who work hard in Public Sector banks.
 

GENIETRADE

Well-Known Member
#3
You are writing what you see......but if you write the reasons for why that would have been better.

When Nehru was prime minister, he undertook steps to make our nation socialistic state. As such, PSUs were formed as a welfare measure for mass employment but not for profit motive. Even now you can see, more than 70% of employees are not merit based but of reservation based. PSUs are hubs for mass welfare measures. Weaker sections of society are placed there. Naturally, we cannot compare PSUs with private sector which are run by purely merit and efficient employees. Can you see any physically challenged, sight challenged persons in private sector. You can see them in PSUs. Can you see socially distressed people in private sector. You can see them in PSUs. When 40 crores of Jan Dhan accounts are opened by PSU banks, even a small fraction of it not done by private banks because they are not profitable for them. Donot you think financial inclusion is the social responsibility of all which is fulfilled by only PSUs. This type of herculean and non profitable tasks are never undertaken by private sector. Now, the scene is changed. The sole aim of PSUs are undermined by the saga of profitability.

Inspite of less talked constraints of PSU, PSUs are still doing excellent work. If not for profitability, private sector is in no way comparable to PSUs which are serving the nation. You cannot leave handicapped, socially distressed, economically weaker employees for their poor efficiency. PSUs are doing excellently taking all of them to compete with biased private sector. The burden on PSUs is enormous and they are not sighing away from that responsibility. They make the impact well for what they are formed for.
 

columbus

Well-Known Member
#4
Social commitment of PSU banks is laudable but not at the cost of efficiency.

I will give a small example of DEPOSIT DRIVE of a Private Bank.When I opened account ,the bank employee came to my house ,with all required forms ,he filled the forms and took signature & proofs.He asked me if my brothers ,sisters ,servants etc etc are having accounts in the branch and require any assistance.

On the other hand take a example of PSU bank.I opened account 3 months back. I went to that bank asked forms to open account.As usual the man at counter handed over a bunch of papers asked me to fill it ,with address proofs and photographs. My net banking is not operative till today.I did not get any WELCOME kit.They say it is opened.But they unable to provide the CUSTOMER ID.I wrote to them many times ,but no reply from them.
 

columbus

Well-Known Member
#6
"The government lender has inaugurated first-of-its-kind branch for high networth individuals (HNIs), where it takes minimum Rs. 1 crore to open an account, and that too on an invitation only.

Kohinoor Banjara Premium Banking Centre (named after the famed Kohinoor diamond that was discovered here), spread over 4,000 sq ft, offers specialised banking facilities like relationship managers, 24/7 lockers, extended banking hours, doorstep pick-up and drop facilities, in addition to pampering customers with five-star amenities at the branch.
"Kohinoor Banjara Premium Banking Centre (named after the famed Kohinoor diamond that was discovered here), spread over 4,000 sq ft, offers specialised banking facilities like relationship managers, 24/7 lockers, extended banking hours, doorstep pick-up and drop facilities, in addition to pampering customers with five-star amenities at the branch. "


You need not be a CROREPATI to avail this features at PRIVATE banks.

PREFERRED CUSTOMERS of a private bank ( having good financial track record) can avail some of the features like
Relationship Manager ,No need to stand in queue for any kind of payment, No DD charges etc etc.

Another PSU bank ( BANK OF MAHARASTRA) is involved in 2,000 Cr scam.

Private sector banks like ICICI bank ,Axis Bank ,Yes Bank etc.. appear to be soft targets.

RBI should strengthen vigil on these banks too apart from PSU banks. PSU banks are bleeding with NPAs.
 
#7
There's business & there's charity, & the two shouldn't be mixed; if people want to be charitable then they should give of their own volition, there's no need for the government to loot taxpayers, in the name of charity & social responsibility, while squandering & hogging most of the money themselves. India owes most of its present success to disinvestment policies started in the 90's, & it has worked wonders because private sector is simply more efficient than governments.
 
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columbus

Well-Known Member
#8
Recently my cousin has retired from a PSU bank. I asked him ,did you ask for a extension? His reply was even if they are willing to give extension ,I won't take it.That summaries the kind of political influences and corruption in these banks. Even EDs and CEOs are not spared.
 

columbus

Well-Known Member
#9
The other day I went to SBI branch for a small work.After signing the requisite paper ,the man said THERE IS A
SLIGHT MISMATCH in my signature. Then I handed over my PAN CARD to him for signature verification and photo
identity.He handed over another paper and asked me fill the details. I told him ,"I am in a hurry and Taxi is waiting
outside." But the man was adamant. The quickest possible solution would be verifying my REGISTERED mobile.
Thieves like Mallyas and Niravs are treated with RED carpet and genuine account holders are treated as THIEVES.
That is the reason why PSU banks are bleeding.

Needless to say ,I am planning to withdraw from the bank.
 
#10
The other day I went to SBI branch for a small work.After signing the requisite paper ,the man said THERE IS A
SLIGHT MISMATCH in my signature. Then I handed over my PAN CARD to him for signature verification and photo
identity.He handed over another paper and asked me fill the details. I told him ,"I am in a hurry and Taxi is waiting
outside." But the man was adamant. The quickest possible solution would be verifying my REGISTERED mobile.
Thieves like Mallyas and Niravs are treated with RED carpet and genuine account holders are treated as THIEVES.
That is the reason why PSU banks are bleeding.

Needless to say ,I am planning to withdraw from the bank.
Any biometric recognition ??
 

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