State Bank of India — Unreasonable \"Home Account\" charges

State Bank of India — Unreasonable "Home Account" charges

N NISBAN from New Delhi, Delhi

A copy of a Letter to the Editor, The Statesman (dt. 11th May, 2010), is uploaded for the use and information of all your users. SBI charges SIR, ~ Services of the State Bank of India can only discourage depositors. The Core Banking System is a means of extra income. The bank debits Rs 50 for depositing a cheque drawn on a “non home” account of the SBI itself. A sum of Rs 10 is debited each time a passbook is updated in a branch other than the one where the account exists. These are only examples of additional charges imposed by the SBI. They are even unfair in the core banking system that seeks to link all branches not only within the city but across the country. Yours, etc., B Upadhyay, New Delhi, 8 May. Was this information helpful? No (0) Yes (0)

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TDS

from Delhi, Delhi

I think NISBAN means the menace of "Non-Home Account".
Yes, it is indeed very, very strange that in the age of the much hyped CBS connectivity, SBI of all should find this novel way of small harassing customers which is nothing but the practice followed by the foreign banks to discourage small depositors from having any transactions with them. Reprehensible it is for the reason that the SBI is the opldest Bank in India-and the largest too. I do not think, considering the volume of business of this leading Indian Bank, it behoves this banking giant to resort to this sort of add-ons to the rate structure to charge all sorts of fees from its customers, and that too in the case of small account holders whose money goes to form the basis of its capital for lending to business magnates.

As an Indian venture, SBI's action is definitely below dignity.