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Jan 23

TOI

RBI directs banks to display all loan costs

moneylife
  
Is ethical business possible in this corrupt world?

“Our ingress into this world was naked and bare,

Our progress in this world is trouble and care,

Our egress from this world would be nobody knows where,

If we do well here, we will do well there.”

                                                - DH Lawrence.

Per contra
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The cost of Jan Dhan

Harried PSB staff and frayed tempers to the fore »      1 comment

 Old Gyan about Public Sector Banks 

A good write-up, with the underlying message that in the 'sangam' the one most crucial factor conspicuously absent, not a trace of it, is, - 'Gyan', old or new. in its profound sense.
Yes or No to the idea of Merger or Consolidation, what is the most wanted hence requiring to be forced through, in the larger interests of the 'stake holders', are : 

1. Uniformity in the norms, rules, standards and practices to be clearly stipulated, made mandatory, and strictly followed by the entire banking industry, particularly PSBs and other large size banks.

2. For each and every transaction, be it with depositors or borrowers, or any other, any deficiency in documentation, lacking in clarity, howsoever remote or otherwise that be, must be eschewed. Should however there be any, ought to be seriously viewed, and interpretation must be favorable to the aggrieved customer, not the erring bank.

3.For settling prima facie genuine grievances /complaints of customers, instead of the presently obtaining,- and required to be compellingly followed, - long route, an effective dispute settling mechanism must be established, for speedy and satisfactory resolution, but without the hassles being faced with in resort to consumer courts. In short, what is called for is an outright, with no qualms, simplification of the attendant procedure. 

< “Banking, Reforms & Corruption: Development Issues 

    in 21st Century India" by MG Warrier