dear friends
We have always been writing about the power of social media and its ability to reach the audience, who are the opinion and decision makers. Members may recall the two recent discussions relating to (1) ATM cards of Kotak Mahindra Bank and (2) short crediting of an account with 8 paise in HDFC Bank. Both the issues were discussed and enabled Reserve Bank to take note of the situation. Today, Statesman paper has carried a story about our group. Please read.
We can feel proud that our group is emerging as a 'whistle blower' drawing the attention of concerned authorities.
Srinivasan
Moderator
http://www.thestate
Networking to net uppity banks
Tyagaraj Sharma
BANGALORE, March 4: The increasing impact of social media including Facebook and Orkut, which got highlighted recently when women rallied Online against the moral police ahead of Valentine's Day, has once again come to the fore.
This is evident from the quick response of the Reserve Bank of India in connection with a chain mail in prpoint@yahoogroups
The HDFC Bank to whom a copy of the complaint was addressed also noted that the turnaround time for resolving ATM cash withdrawal disputes was 45 days, referring to VISA/Mastercard regulations which it said were applicable globally.
It was not until the matter was reported in the social media network that matters began to take a positive shape. A letter was written immediately to Mrs Usha Thorat, deputy governor, RBI, by the moderators of the network detailing the problem.
Much to the journalist's relief, the letter was acknowledged and appropriate action promised. This did not take long to come. According to recent news reports in www.rupeetimes.
The report quotes the apex bank as saying that if the banks fail to provide the money within the required period, it would not hesitate to impose penalties under the Payments and Settlement Systems Act, 2007. The success of this campaign to protect customers' interest in the social media, has brought some confidence to another person who has also highlighted his experience with HDFC, though of a different kind.
According to Mr Avinash Murkute of Pune, he deposited a cheque for Rs 15033.88 paise with the HDFC bank which, however, credited only Rs 15033.80 paise. Repeated requests and appeals failed to get the bank to respond. A determined Mr Murkute, encouraged by the experience of the journalist in the social media group, pursued his case, even approaching the top brass of the bank till he got his paise back.
What he had to say about his experience is worth recollecting. The bank's response to his plea for restoring the eight paise was: it was such a small amount. The bank manager concerned first argued that he had never approached her. When he did, her response was: she needed to take the approval from the head office. If this was not bad enough, he was told that since his eight paise had been credited, why did he insist on an apology. It's another thing that Mr Murkute spent Rs 36 in 20 days to recover the eight paise. He has now highlighted his case in the social media network concerned and appropriately got tremendous support and goodwill messages from the customers of the bank as it is an alert for them too.
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