[Resolved]  State Bank of India — Rip Off in exchange rate for NRI account

Address:

Punjab

I am an NRI from Canada. On 17/01/2010 I opened a NRI account with SBI NRI branch Phagwara. I deposited 3000CAD. I was paid exchange rate of Rs43.10 per CAD. Same day deposited CAD in two other banks in Phagwara and was paid at an exchange rate of Rs45.92 per CAD. Next day I complained the SBI branch. I repeated same deposit process on 19/01/2010. Results were same. SBI ripped me off approx. Rs9000. Making round to the bank everyday. Gave them proofs of transactions with other banks. Talked with the Regi0nal Manager NRI in Amritsar with no results. Requested even to give back my money in dollars and close the account, I was told to buy them back paying approx. Rs5.00 more per dollar bearing another loss of approx. Rs15000.00, a situation of catch 22. Please nhelp to resolve the issue and warn other NRI's while dealing with SBI. Thanking you in anticipation--Ram Sharma