Monday, 13 January 2014

Cost for even minor most relaxations:

Automated Teller Machines installed by various banks in different locations extended necessary facilitation to the consumers in a better way, and more than that they saved much of money to the concerned bankers which they had to otherwise spend on managing those payment across the counters in their branches. Customers had every reason to feel a sigh of relief in getting their payments through the ATMs without waiting for their turn standing in the long queues in the branches. Now this small relaxation to the consumers is being made a costly affairs as it has since been decided by the Indian Banks Association (IBA) to levy a charge on withdrawals if they exceed a prescribed number of transactions. The reason given by the Chairperson of State Bank of India, Arundhati Bhattacharya, is that ATMs are giving losses to the Bank on account of which this service is not financially feasible, hence some charge is the must. This is too false an argument as these machines are in fact saving lot of money for the bankers which they might have had to spend in engaging a bigger number of staff to handle the pressure of customers rush. This is an era when there is extra charge for every thing and for that reason even the smallest possible service through ATMs too is not being allowed free of some direct charge. After all it is the customer who has to suffer. Bank like State Bank of India is regular in incurring losses on account of their erratic way of handling the transactions and a lavish way of expenditure in unproductive areas and not because of some relaxation or the other to its customers.

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