WELCOME SBI STEP TO ABOLISH MINIMUM-BALANCE AND SMS CHARGES BE UNIFORMLY FOLLOWED BY ALL PUBLIC-SECTOR BANKS

Bureau,Odishabarta

DELHI:Welcome initiative of State Bank of India to do away with Minimum-Balance and SMS charges should be uniformly followed by all banks especially compulsorily by public-sector banks. Also other charges and interest-rates for loans and deposits for public-sector banks should also be uniformly fixed by Reserve Bank of India (RBI) so that public-sector banks may compete through better services rather than interest-rates and other charges.

RBI should devise common and simple forms for all public-sector banks for various banking needs which should be available on websites of all public-sector banks in a manner that duly filled forms may be downloaded from websites replacing concept of hand-filled forms.

Pass-books for all public-sector banks should also be uniformly designed with cover-page depicting all details of account-holders as available with the Bank including about nominees so that nominee-beneficiaries may be aware of claiming money of deceased account-holders.

Account-numbers should be uniformly of 15 digits for all banks with provision of portability of accounts in different banks with account-number remaining the same, if feasible. Presently Central Bank of India has just ten-digit account-numbers while most other public-sector banks have 15-digit account-numbers. All public-sector banks should have a common and uniform most-acceptable and convenient software.

#Ms.Madhu