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1) State Bank of India (SBI) will enter the top 50 global banks league with a balance sheet size of Rs. 41 lakh crore following its merger with 5 associate banks and Bharatiya Mahila Bank. 2) The merger increases SBI's total employees to 2.77 lakh, customers to 50 crore, branches to over 25,000 and ATMs to 58,000. SBI's market share will increase to nearly 22% from 17%. 3) A customer describes poor treatment received from SBI staff when settling his deceased mother's bank account, including refusal to provide basic documents and incorrectly identifying him as the legal heir instead of nominee. He raises issues with the bank
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- 1. State Bank of India A very popular Whatsapp message doing the rounds is the typical way in which this PSU Bank deals with its customers. SBI DESTROYS RANSOMWARE VIRUS Ransomeware virus tried to enter in to the computer system of SBI. It could not succeed as someone told it- come after lunch. It came after lunch and was told –go to counter no 14. On counter 14 was told give account number and mobile number first and finally was told come tomorrow we are closed now. SBI to enter ‘Top 50 Global Banks’ league with Rs. 41 lakh cr balance sheet MUMBAI, APRIL 1: Following the merger of five associate banks and Bharatiya Mahila Bank with State Bank of India, the latter will enter the league of ‘Top 50 Global Banks’ with a balance sheet size of Rs 41 lakh crore, said India’s largest bank on Saturday. The merger of five associate banks – State Bank of Bikaner & Jaipur, State Bank of Hyderabad, State Bank of Mysore, State Bank of Patiala, and State Bank of Travancore, and Bharatiya Mahila Bank is effective today. In a posting on its website, SBI said with the merger, it now has 2.77 lakh employees, 50 crore customers, and more than 25,000 branches and 58,000 ATMs. Further, SBI’s market share will increase to nearly 22 per cent from 17 per cent. “Having made significant investments in technology, SBI is in a position to offer the widest portfolio of digital products and services…..Thanks to the merger, three crore additional customers will have access to these products,” the bank said highlighting the benefits of the merger to customers. Further, it said the larger branch and ATM network will enable SBI to offer its products and services seamlessly to varied customer segments across India, besides being easily accessible. . With the merger, customers can access SBI across the globe at over 190 foreign offices in over 36 countries. On the merger, Arundhati Bhattacharya, Chairman, SBI, said: “We welcome the customers, employees and all other stakeholders of associate banks and Bharatiya Mahila Bank (BMB) to SBI fold. "The bank will strive to conclude the transition process within a quarter. The combined entity will enhance the productivity, mitigate geographical risks, increase operational efficiency and drive synergies across multiple dimensions while ensuring increased levels of customer delight.” Post-merger, the bank will rationalise its branch network by relocating some of the branches to maximise the reach. http://www.thehindubusinessline.com/money-and-banking/sbi-to-enter-top-50-global-banks-league- with-rs-41-lakh-cr-balance-sheet/article9611273.ece This is how they made me visit their Branch 4 times before the matter was resolved or shall I say they got rid off of me – their approach to work is simple –THIS CANNOT BE DONE and not a customer oriented approach What I can do for you? It just shows a complete lack of understanding of relations between a Banker and its Customers, prevailing laws and Banking systems and procedures by the staff whether Managerial or otherwise.
- 2. This letter was never sent lest it bother the addressee who may bungle again. Rajesh Rampal 57 Vaishali, Pitampura Delhi 110034 27318023 and 9718550213 [email protected] Mr. Pankaj Singh Manager State Bank of India Kohat Enclave Pitampura Delhi Subject: Account No 10851415661 of Late Smt. Bimla Rampal Nominee: Rajesh Rampal Dear Mr. PankajSingh. This is to thank you for a patient hearing on 17th May 2017 when I met you and handed over a request (ANNEXURE I) to 1. Provide me a covering letter in respect of the Banker’s cheque of Rs 11,58,026 handed over to me (Nominee) on 28th April 2017 in settlement of the aforesaid account after the demise of my mother. 2. A Statement of Account showing the entries from 31st December 2016 till the date of settlement i.e. 27th April 2017. As per this note at Annexure I I had requested that these be sent at the earliest. I waited in vain till 25th May 2017 but did not get any reply. Your query on 25th May 2017 to my daughter Shreya who had come to collect the Statement with a note from me as to why I did not come in to pay obeisance in your Durbar and collect the Statement myself. I can only add that I did come in albeit a bit late after parking my car. I was told I could park my car just for two minutes hence my early departure. I hope you shall forgive this lapse on my part. Imagine in this erq of Internet Banking and mobile Banking you still expect people to kowtow to you! On 25th May 2017 I visited the Bank with my daughter to collect both the aforesaid details. Details were furnished a Statement of Account of my late Mother Smt. Bimla Rampal with a scribbled note on it duly stamped by you SBI Stamp 11547 stating – Dear Sir, We enclose herewith the Statement of A/C No 10851415661 (named Ms. Bimla Ramphal)account of which was settled in the name of her legal heir Sh. Rajesh Ramphal. Statement Date 31 -12-2016 tilll 27-4-2017. Signed and dated 25-5-2017 and duly stamped. Please see ANNEXURE III Please allow me to inform you that you have spelt the names wrong on both counts –our surname as mentioned in the Annexure I is RAMPAL and not RAMPHAL and you can even refer to the Statement of account/Bank Records for that matter. You are in fact writing on the Bank Statement and still cannot spell names correctly! You have mentioned me as the legal heir and stamped it too with SBI Stamp bearing Serial no. 11547. This is a factually wrong statement on your part. I was the nominee and my nomination was registered with SBI Kohat Enclave Branch and you settled the account after due diligence. Your lapse is extremely serious and shows you do not even know the difference between a legal heir and a Nominee. This just shows the callous and careless approach of SBI Managers towards a simple request. Everybody in SBI fights tooth and nail to deny a customer anything requested by them. You expressed a hesitation to hand over a covering letter to me. Let me ask you – Your customer has passed away and why are you so inhumane that you cannot even write a letter to the Nominee expressing condolences and then attaching a Statement of account and transferring funds online. You are forever eager to point holes in everything let me tell you Sir –even your spellings of Heir are wrong. It just shows the complete lack of training imparted by SBI to its Managers. There is a complete lack of application of mind and brain. Banking is all about trust and not certifying nominees as legal heirs with SBI Stamp 11547. --------------------- I must brief you about the absolute unprofessional conduct of a Lady (I do not wish to name her) in your branch who always browbeats and throws her weight around unnecessarily. Her mannerisms are absolutely unbecoming of a
- 3. Banker and specially the SBI. There have even been scuffles and hurling of abuses by customers in your Banking premises in this respect. Mr. Anil Jain is aware of this and I overheard this on 24th April 2017. I must explain things right from the beginning. Sequence of events My mother Bimla Rampal expired on 17th February 2017. She had nominated her son i.e. me in respect of her SB account. On 24th April I visited the SBI Kohat Enclave in the morning and apprised the Manager Sh. Anil Kumar Jain of my mother’s demise. He asked us to contact this Lady in the Bank. I was accompanied by my wife Renu Rampal. We were handed over a form titled CLAIM FORM FROM NOMINEES and were asked to furnish the following information in addition to the information required in the form. Death Certificate, Pass Book, Cheque Book, ID of Nominee, Nomination form acknowledged by SBI, Photograph of Nominee. The Claim form was to be witnessed by two witnesses who the Lady said will have to come to the Bank as the amount was too large! Despite our repeated requests (Thrice) she refused to divulge the balance. Fair enough, I had to establish my credentials as Nominee first. No issues on this account. We did speak to the Witnesses our neighbors Mr. Ashok Sehgal of 110 Vaishali and Mrs Shyama Singhal of 115 Vaishali. Ashok Sehgal was amenable to come to the branch but was perplexed being a CA of 1980 vintage. Mrs Shyma Singhal had extricating back pain and expressed her inability to go any where. In the afternoon we visited the Bank again and furnished all details as required including showing original Adhar Cards of both witnesses and mine. All other doucumets in Original were shown. This Lady checked the records very diligently and said they were fine. We also informed her that only one witness can come to the Bank Ashok Sehgal and the other was indisposed and she was welcome to come to our place to verify our premises and to meet the witnesses. Our offer was met with a stoic silence. I now asked for an acknowledgement and she refused saying there was no need for it. I insisted and on my third plea she did put a stamp on the document very reluctantly. ANNEXURE II Behind her seat was a caption which reads somewhat as – Please obtain an acknowledgment for your documents submitted. Strange- she refused twice to give the acknowledgement! She now said we shall start our enquiries and if everything is fine it should be settled in a day or two. My mother had a very poor opinion about the way SBI had treated her in the past. I was witness to that event some years ago. As a matter of abundant precaution I informed the Manager Sh. Anil Kumar Jain that we had fulfilled our obligations and I did tell him about our experiences with SBI and also about us. He gave a patient hearing and I must admit that. I did not apprise him of the way we had been treated in respect of the Balance query, Summoning witnesses to the Bank or not giving acknowledgement for documents submitted in the very first instance. On our way out we were informed by the Lady that 27th April was the day when everything will be settled. On 26th April 2017 both witnesses informed us that they had been contacted by a Lady from SBI. What Ashok Sehgal said I shall ignore as it can be construed as hearsay. On 28th April we went to the SBI in the morning and a bankers cheque was handed over to me and my signatures obtained on several documents. I requested the Lady for an envelope and was provided one after repeated requests. As a matter of good working practices I thought the Banker’s cheque would be accompanied by a covering letter and a small note explaining the difference in balance between 31st December 2016 in the pass book with Rs 11.58.028 the Bankers cheque sum but alas that was not the case. I did ask the lady for a statement of account from 31st December 2016 till 27th April 2017 and her reply was this can be given after 1 PM only. I am 61 and a senior citizen yet SBI employees have a sadist way of harassing people and specially when it is 42C plus temperature. Mind you I have been 4 times to the SBI till date. I went in to thank the Manager Sh Anil Jain. He had several customers with him and I told him that I shall come next week or later to meet him. He was extremely warm and affectionate and said I was welcome anytime. In response to my query why the funds could not be transferred electronically he offered to do the same there and then. We did not wish to bother him as he was busy and moved ahead to deposit the Bankers cheque in our account with PNB. On 17th of May 2017 I went to the SBI and requested the lady for a covering letter so that I have some evidence/proof as to where this sum came into my account. She refused point blank and when I asked for the Statement of account as requested earlier she said I have to pay charges for a duplicate Pass book! She did finally concur but said it will be provided only by the month end!
- 4. Having established my credentials as a Nominee now as SBI has settled the sum in my favour. I thus also represent the deceased account holder i.e. my mother late Smt Bimla Rampal. It was this lady only who insisted I deposit the pass books that were updated till 31st December 2016 only and she checked them when she received them. It is her/SBI’s duty to inform me of the variance between the balance as at 31st December 2016 and at 27th April 2017. I thus ended up giving the request ANNEXURE I to Mr. Pankaj Singh –the new Manager on 17th May 2017. ISSUES ARISING OUT OF ABOVE 1. Under which provision of which law is a Bank Manager/Officer authorized to summon a witness to the Bank for CLAIM FORM FOR NOMINEES. 2. Why does a Bank officer refuse twice to give an acknowledgement for documents received saying there is No Need? Why have the caption that says please obtain an acknowledgement for documents submitted? 3. Why cannot SBI or any Bank for that matter carry a due diligence in respect of a Nominee when a nomination form is filed e.g in this case on 6th February 2016 when the account holder is alive. I know nomination can be changed by account holder any time before his/her death but tht rarely happens. SBI can thus build a rapport with a new customer. 4. In today’s scenario an Adhar Card is the gateway to a persons Bank as well. Why hand over a Banker’s cheque and why not make an electronic transfer by asking for a copy of a cancelled cheque from the nominee and that cheque bears his name printed on the cheque book too? Another check in hands of Bankers apart from Witnesses. I thought our PM Modi had shunned all payments by cheques and e payments would be the mode in SBI –a big disappointment. 5. It is standard practice worldwide even in Sub-saharan Africa to give a covering letter with a cheque specially when the account is being closed. Otherwise what evidence doesa Nominee have for the credit ofa sum of Rs 11,58,028 in his account when even the deceased account holder’s pass book is also taken away. 6. Nowthat SBI has paid the sum to me as Nominee, I also inherit the rights ofthe deceased in respect of the right to get a covering letter in respect ofwhich the payment is made by SBI and also a Statement that may form part of the covering letter giving details of transactions from 31st December 2016 till date of settlement 27th April 2017 and this right CANNOT BE DENIED TO ME by any logic or law. 7. Why cannot SBI Managers distinguish between a Nominee and a Legal Heir? This is pure lack of training. Why do they certify wrong details with an SBI stamp bearing their personal number? Being a Banker correct spellings of a customer’s name is a basic requirement or is it not? Submitted for requisite action and a request that delinquent employees be cautioned against throwing their weight around unnecessarily. Attitude of a Baker worldwide when meeting any visitor to a Branch is–What can I do for you (Big Smile too). Why are we Indians even worse than sub-saharan banks is just not understandable and SBI specially so. Yours Sincerely, Rajesh Rampal Outcome Annexure II belowwas submitted to the SBI on 24th April 2017 and Annexure I submitted to SBI on 17th May 2017. Why do all SBI employees say NO to every request that comestheir way. Annexure III relatesto 25th May 2017. I share my experience anyway.