I received a feedback request from SBI after closing my 15-year-old PPF account. While this request seemed straightforward, it left me feeling a mix of emotions. On one hand, it highlighted how banks often take their customers for granted. On the other hand, it reminded me of our dependency on them for security. It's quite a perplexing scenario.
Here's what happened: I planned to close my PPF account on April 2nd, as April 1st was a bank holiday. Incidentally, I'm not quite sure why banks need a holiday on April 1st when the rest of the world seems to function just fine. It almost feels like banks play an April Fool's prank on us customers. With everything now digital, you'd think banks still insist on closing books and opening new ledgers, despite it seeming unnecessary. When I finally visited the bank on April 2nd, I was greeted by a chaotic scene. I held the door open for a lady and almost bumped into someone inside. The area was overcrowded, holding over 40 people instead of just 20. Realizing the futility of finding immediate assistance, I returned the next day. The bank provided no guidance on where to go to close a PPF account. Eventually, I found the right person, who, without any queue system, dealt with random queries.
After submitting our forms, the bank official informed us it would take more time to process our requests. She suggested we come back on Monday to close the account, since my wife's account could be transferred, and I would get a cheque. On Monday, I arrived bright and early, only to find the place still bustling. There was a lack of any formal queue until I raised my voice to instate some semblance of order.
After reaching the front, I watched as my form was processed, something that could have been done when I visited the first time. The closure of my wife's account was managed efficiently, resulting in a timely SMS notification. Meanwhile, mine took longer due to the preparation of a banker's cheque. I couldn't help but question why this process hadn't been completed the preceding Thursday. The answer I received was a laundry list of excuses: system downtimes, post-holiday crowds, among others.
But that was not the end. My mother-in-law's account, which should have been closed after she passed two years ago, is still open. To make matters worse, there was even a charge for a non-existent locker rental. Similarly, my mother's account, which we started closing over six months ago, remains unresolved despite numerous follow-ups.
It's hard to know what to feel about SBI. Many, especially senior citizens, still flock to the bank for its reliability. Yet, the lack of customer appreciation and efficient service leaves much to be desired. Despite such issues, SBI remains India's largest bank. Does this reflect the bank's operations, customers' acceptance of the status quo, or just the norm we've reluctantly accepted?
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