Hdfc!!

#1
Hi all,

I have deposited cash in HDFC Bank ATM centre on sunday evening around 3.30 PM(30/01/2005). Till now the said amout has not been credited to my account.

i called up their customer care people and they say it may take minimum 2 days to give credit even i deposited cash in BANK ATM only.(Not off site )

Any one know how to contact their higher officials? Any mail id or phone #s

regards
gopu
 
#2
gopu said:
Hi all,

I have deposited cash in HDFC Bank ATM centre on sunday evening around 3.30 PM(30/01/2005). Till now the said amout has not been credited to my account.

i called up their customer care people and they say it may take minimum 2 days to give credit even i deposited cash in BANK ATM only.(Not off site )

Any one know how to contact their higher officials? Any mail id or phone #s

regards
gopu

Cash deposits in ATMs, especially on Sundays is asking for trouble. In such cases 2-3-4-5 days' delay is common with all banks. Why don't you just go & deposit your cash in the nearest HDFC Bank branch? The credit would be instantaneous, almost. My personal advice; don't deposit cash in ATMs, do it in any bank branch. Forget the delays, you'll feel more safe this way. :)
 

Traderji

Super Moderator
#3
Hello Jaideep,

Are you in the banking business? You sound pretty knowledgable ad helpful in banking affairs. Good work and keep it up.

Maybe I should start a separate banking forum! :)
 
#4
Traderji said:
Hello Jaideep,

Are you in the banking business? You sound pretty knowledgable ad helpful in banking affairs. Good work and keep it up.

Maybe I should start a separate banking forum! :)
Knowledgable maybe but banking NO!
I know when I know & I'll say no more;
A grease monkey I am, a Marine Engineer,
Ships & Engines, for me no fear. :)

A T/A I'm not & that's for sure I know,
But there's more in life than that, I can show;
Banking & Trading & T/Aing & Trending,
May not be always to all of our liking. :)

I'll always contribute with what I know,
I've said that before & now I'll say so;
Helpful! yes, for anyone who'll ask,
It is no great favour or no great task. :)
 
#5
Traderji,

It is nice to hear that you are going to start a forum on Banking. I am from the banking industry and will contribute to the forum.

Vinod :)
 

Traderji

Super Moderator
#6
bvinod said:
Traderji,

It is nice to hear that you are going to start a forum on Banking. I am from the banking industry and will contribute to the forum.

Vinod :)
Thank you Vinod,

Would your contirbuion be related to retail or merchant banking?
 
#7
Traderji said:
Thank you Vinod,

Would your contirbuion be related to retail or merchant banking?
Uh! Oh! Traderji, good question. Let's all remember that this here forum is a T/A & Stock Trading forum. Of course, with a little extras like what I contribute, palatable or not. :)
 

sh50

Active Member
#8
Banks are a classic case of efficiency without effectiveness. In ICICI bank too the bank statement comes seven days after the month ends whereas in our previous nationalized CBI, we used to get the passbook updated easily on the 1st of every month. What is the point in having all the fancy infrastructure?( Their passwords dont work in half the accounts) if it does not result in convenience for the customer.

People in banks should have a stint in the corporate world. One of my former bosses would have said for the situation, I dont care whether you played a nice game or not. Did you score the goal?. Their executives maybe polite, intelligent and efficient but they always goof up because of lack of practical approach. I dont like making a sweeping statements but most banks are like that:-

If you ask me to rank
Any Bank
My response would be blank
If a company were running in this fashion, we wouldnt be surprised if it sank
Their bureaucratic culture needs to be blasted with a tank
If one can deal without arguments with them, any deity one should thank
My banker friends shall hopefully pardon me for being being frank
If not, I don't mind a spank
It will be the day when to their performance and future, someone like me drank
For that to happen, they would really have to be on a different plank
Only a Harshad Mehta/Ketan parikh can give a rap on their knuckles with a fraudalant prank

I have heard a lot about the efficiency of Japanese banks. I have even come across branch managers in nationalized banks who cannot read balance sheets. I find it quite surprising.
Thank god you are not in the banking industry, Jaideep. Couldnt have written something like above on a fellow poet. By the way, does the sea inspire you to to write your classy poetry. I just dont get such classy thoughts and you know If poetry does come to you as leaves to a tree, it may as well not come at all. Something is better than nothing;everybody can't be classy.
 
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#9
Hi,

I do have a few thoughts which I would like to share. First of all, my observation is that the quality of banking is more dependent on the quality of the staff in that particular branch and not if it is a nationalized bank or a private bank.

My local branch of Indian Bank (called the Thirumangalam branch) has many people who are very friendly and quite efficient and they are also people-centric. They take care to see that our cheques are not returned unnecessarily, even oblige if we are sometimes late and request favours, even though they are mostly overworked. (Of course our joint family has about 15 accounts with them and we have been banking with them since the inception of the branch) but it is more because of the staff there rather than the quality of banking in Indian Bank. ( I know because I have also had banking experiences with other branches of the same bank).

I can tell the same about our local Corporation bank branch and UTI bank (private) too. In fact the UTI bank has a relationship manager who stays at a particular branch for extended periods of time. And that I feel really helps both the customer and the bank.

Whereas there is a local ICICI branch which has staff who are overworked (always busy to take the time to actually talk to us).

So, ultimately it is generally those banks which manage to establish a personal rapport with the customer that end up giving a satisfactory service and not if it is a private or a nationalized bank. Surely ATMs have made life definitely easier, but they supplement the present banking system and should not be thought of as replacement for banking staff. No ATM can replace friendly faces and cheerful greetings. And surely not in a country like ours where there are lots of problem cropping up if we have to rely solely on ATMs alone.

It is also easier for the bank manager to assess a customer for credit worthiness etc. if he knows them and their background personally.

Would like to hear others' opinion about this.

Regards,
Snowy.
 

sh50

Active Member
#10
You are right. Individuals can and do make a difference but one rarely comes across them in Banks. The service of our nationalized bank has improved in the last 2 years but they are way behind in infrastructure.

There is a joke I would like to mention in this context.

Two people were traveling in a train. One person(A) was rich and extremely knowledgeable and the other guy(B) was poor and ignorant but had good earthy intelligence. B challenged A with a bet that if A asked B a question and B could not answer, B would pay Rs 5/- to A but if B asked A a question and A could not reply, A had to pay Rs 50/- since he had the advantage of knowledge.

A agreed and asked B a question and B could not reply and had to pay the Rs 5/-

Then B asked A a question, Tell me an Animal with 5 heads, twenty arms, forty legs etcetc.

A could naturally not answer and had to pay back the Rs 45/-

There is a book on successful intelligence where the author points out how creative and analytical intelligence are useless without practical intelligence

My dealings with nationalized banks would remind me of the joke above and it seems that even the private sector banks want to continue the trend.

Last summer, when we asked one of the executives of HDFC bank to summarize all facilities(phone,mobile,internet banking) on one page. He said that he would have to ask his seniors and I just walked out because these are the kind of answers one gets in nationalized banks. In another case, they reduced the principle(instead of interest) amount by tax amount and to top it all tried to defend it. Its like a chart action trying to support the wrong signal.

The ICICI fellow gladly presented everything on one page. However they have their own stories. They refuse family members to see each others accounts on the computer on power of attorney though one can even withdraw money from anothers account on power of attorney. There has to be a practical system because feeding 15 huge codes alongwith their huge passwords is dreadfully slow compared to the old system of simply getting the passbooks updated. The ICICI bank terminal also functions somewhat haltingly. They say that all accounts have to be in ones name to see collectively on computer. Which bloody fool is going to open so many accounts in ones own name?

You are right about the ATM machine not being able to replace human beings. But then, they should exercise that discretionary judgement. There is a time to follow a rule and a time to play a role and more often than not they fail in this respect. One well known CNBC commentators had mentioned in one of his newsletters that to succed in shares one has to know when to follow a rule and when to break a rule. I think it is largely true for life too for no rule can be followed blindly like a "Paththar ki lakeer". Even in our Shastras, discretion or "viveka" is given significant importance.


Jaideep, since you are a marine engineer
I belong to commerce and only in poetry you can be my peer
For me, in this forum, you and credit are a cause for cheer
Your classy poetic expressions sometimes make you sould like a mystic/seer
We should continue the poetic banter alongwith trading ideas to profiteer
Someday I hope this exchange to be by the seaside over a bottle of beer
How I wish like shares, poetry too could be made a profitable career.

Jokes apart, now that you have told me about your backgroumd, I can understand that tsunami connection.
 
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