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Thanks to RBI for thinking of SB accounts and it is a great information we had by MR Pandya on SB account interest calculations. Till now we did\\\'nt know the interest calculations of SB accounts.
The banks calculated the interest arbitrarily.

Strangely, this had been going on since we became independent.

Are the people of Bharatvarsh getting adjusted or getting used to all kinds of injustices from every nook and corner once one steps outside into the street ?

Foreign banks (ICICI & HDFC included) rape the customers under some jargons that even bank guys find difficult to explain.
FRIENDS,
SURPRISE, DECISION WILL BE IMPLEMENTED AFTER A YEAR OR SO.IF THIS IS SPEED, SALUTE TO RESERVE
BANK.........HOPELESS
Another issue on which RBI has never given any thought is the amount of commission charged by the banks while issuing a demand draft. Now they charge the commission according to the amount of the demand draft. If you get a draft for say Rs.10,000 they charge you Rs.40 as commission. If that amount increases to say Rs.1,00,000, commission charges may increase to Rs.100 or so. This system is based on the commission charged by post office for sending a money order. That may be still understandable because post office/postman handles cash which is somewhat a risky amount. Moreover, postman goes to deliver cash to the individual\'s place. But why the banks follow the same formula when they neither handle cash nor go to deliver it to the payee\'s place. Hence they should charge a fixed amount for issue of a draft irrespective of the sum of amount involved.
these stocks having the target of

ABAN- 1500
SUZLON - 150
GVK POWER- 60

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Started by : ketanajani On : 28-Jun-2008 , In Category