Sunday, August 17, 2014

How increase the pain your customer - Banking way

Last two days I was trying to pay for stamp duty and registration for a new flat that i am trying to purchase.

  1. First builder went to Bank of Maharastra and got a challan for stamp duty and registration fees.
  2. He gave the challan to me and asked me to pay it.
  3. Tried to pay it online, but realized that to pay online , I need an account in SBI, Bank of Maharashtra, Bank of India or IDBI Bank. Unfortunately I don't have account in those banks. 
  4. So now I go to Bank of Maharashtra branch.
  5. Bank of Maharashtra manager suggests me to pay the amount by CASH. All government policies and banks are trying to reduce the cash transactions. Here for government tax payment we are going 'reverse'. 
  6. When I asked why, Manager explained me that cheque clearing takes 4 to 5 days even for local cheque. It seems RBI has a new process for clearing. Now there is NO local clearing in Pune. The cheque is scanned and sent to RBI for processing. 
    1. So I pay by cheque on Friday. 
    2. Cheque will get scanned on Friday evening.
    3. Saturday will go to RBI clearing.
    4. Monday clearing may happen.
    5. Tuesday the Bank of Maharashtra will get the details it is cleared or not. It may happen that other bank will ask for some time. In this case, it will get delayed
Manual clearing took 2 days while computerized clearing takes 5 day. Amazing !!!!. Instead of making life easier RBI is making more difficult to average banking customer.

I think much simpler process is possible

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