State Bank of India has deducted Rs 147 from the accounts of all its account holders. Most SBI account holders are surprised to see the message of Rs 147.50 deduction.
State Bank of India has deducted Rs 147 from the accounts of all its account holders. Most SBI account holders are surprised to see the message of Rs 147.50 deduction. Bank is taking this amount as annual fee for ATM cum Debit card. So customers need not worry. All banks charge debit card charges from customers. Private banks charge more. However, the customers of banks should be fully aware of their rights. So that the bank does not charge more money from you. Let us give you information about the rights given to the customers of the bank.
Banks cannot discriminate
Banks cannot discriminate while offering products and services to customers on the basis of gender, age, religion, caste and physical ability. However, banks may offer different rates to customers depending on the interest or products. The central bank says that the provider of financial services may have certain products, which have been designed keeping a group in mind.
Right to transparency
You would think that the language used in bank documents should be simple and transparent. As per the rules, banks have to ensure that all contracts are transparent and can be easily understood by the common man. It is the responsibility of the banks to communicate in the right way. It is necessary to give clear information about the price of the product, the responsibility of the customers and the risks.
Right to privacy
Banks should keep the personal information of the customers confidential, unless the law or the customer gives any kind of consent on his behalf. Customers have the right to protection from all communications. Banks cannot give details to sell to telemarketing companies.
If the bank does not follow the rules, complaints can be resolved. Banks are responsible for their products. Apart from this, third parties like insurance companies and fund houses are also responsible for the products. Once the product is sold, they cannot absolve themselves of the responsibility.