A day in the life of India

My experiments with Life

RBI’s stupidity

with 3 comments

RBI has been really taken side of the customers in recent years. Starting from laying guidelines for recovery agents, asking banks to avoid charging fees on NEFT transactions till 2009. Standardizing 20rs fee for using other banks ATM.  Or making it compulsory for banks to send sms or email notification of transactions these were good moves.

But this time it has done the most stupidest thing, which is without any logic, i always thought RBI ppl will have some dimag. But allowing the customer to use any ATM without any fee is out-right stupid. I fail to understand why would banks build any more ATMs. It must be really profitable for the banks with lesser number of ATMs. But banks with high ATM penetration spend sizeable amount of money to maintain them, the machines, air conditioners, shop rent, the security wala. And now why would anyone want to incure such cost when their customer can use all the atms. Though its good for customer but still it doesnt make any logic. 
I dont know but since a week whenever i m trying to use another banks ATM its just isnt working. Only the banks own card are working in the ATM’s since a week. Maybe the banks are doing this on purpose and not allowing other bank cards, if such is the case then that is surely justifiable. I always use ATM whichever is nearer to me, 20rs doesnt matter but now its not working. 

Written by maya

April 5, 2009 at 4:56 pm

3 Responses

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  1. Perhaps this is an election gimmickMorever on the face of it, the idea looks great

    Pesto Sauce

    April 8, 2009 at 9:45 pm

  2. it is in very rare cases that one has to use the atm of another bank. Most shops you can pay with credit card, and most banks have good ATM penetration.Anyway, can you please turn off the word verification? it is irritating and wastes time.N


    April 14, 2009 at 12:52 am

  3. @pesto: i think RBI is quiet independent and wont work on the wishes of govt.@notingman: well i use atms on daily basis.


    April 20, 2009 at 10:55 am

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