Tuesday, 11 February 2014

Every things boils down to money:

No kind of service or some relaxation is available without paying something extra for it and this has become the routine trend of the financial institutions. Know Your Customer (KYC) is the scheme launched in banking industry exclusively for generating awareness amongst the customers in relation to keeping necessary information on their accounts duly updated and there is actually no reason why there should be any charge for it but now they are levying a charge as a penalty. State Bank of India claiming to be “the banker to every Indian” has levied it at Rs.112/. In a way this is a customer service and this was and should be without any extra charge. This way or that, the motive of the bankers is to earn profit without really being serious about an adequate service to the customers. This is discouraging and warrants to be withdrawn.

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