Unveiling the Bare Truth of Public Sector Banks

I feel miserable, even in 21st century there are least facilities available to senior citizens and differently abled persons. This blog tries to unveil the harsh reality of all public sector banks in India.

You may have noticed lot of incidents in overcrowded buses where elder persons were denied to have seats. Today, some of transportation corporations (like BMTC) added few reserved seats for senior citizens and differently abled persons.

But what in case of long queues at banks?

Are there any policies by RBI?

In 2017, RBI notified all scheduled commercial banks, small finance and payments banks with a policy for senior citizens and differently abled persons. (Click here for more details)

Facilities Available to Senior Citizens and differently abled persons

1. Dedicated Counters /Preference to Senior citizens
2. Ease of submitting Life certificates
3. Automatic conversion to Senior Citizen account
4. Ease of cash withdraw to visually impaired customers
5. Door Step banking

6. Talking ATMs with braille keypad for visually impaired customers

7. Magnifying glasses for low vision customers

8. Ramp facility at ATMs/branches for wheelchair access

However, what is the actual reality of such policy?

Are banks really implementing such polices?

Our RTI application unveils the bare truth of all public sector banks.

Cons

1. Only 3 out of 12 Public Sector Banks replied to our RTI application within prescribed time limit of 30days. We filed First Appeal to 10 Banks for not providing information within time limit/providing incomplete information.
2. Only 3 out of 12 Banks are maintaining data related to dedicated counters for senior citizens and differently abled persons.
3. Only 7 out of 12 banks are converting fully KYC complaint account into senior citizen account and providing ATMs with ramps.
4. Only 2 out of 12 banks are maintaining data related to branches/ATMs displaying the reasons for their inability to provide ramps.
5. Only 4 out of 12 banks are providing magnifying glasses for persons with low vision.

Most of banks are violating the RBI polices and even worse some banks have mentioned “they are not aware of any such policies”. It is pathetic even after 5years of such good policy, most of banks are not implementing it.

Pros

1. 11 out of 12 banks are providing Door Step banking to Senior Citizens and differently abled persons which accounts for more than 25% of all public sector branches in India.
2. 9 out of 12 banks are providing talking ATMs with Braille Keypads which accounts for more than 80% of all ATMs in India.

As per data provided by banks most of ATMs are talking ATMs with Braille keypads. If anyone find non talking ATMs with no braille keypads, report to us at iconsumer.in@gmail.com

Way Forward

1. RBI should immediately intervene and issue a circular insisting all banks to comply with policies pertaining to senior citizens and differently abled persons.
2. Instead of irrelevant ads, govt should promote more campaigns/ads on facilities available to senior citizens.
3. Every customer should know and create awareness about these facilities to their inner circle.
4. Media should publish this report and expose the reality of public sector banks.
5. Consumer groups and NGOs should actively involve in running campaigns on such facilities.
6. Sharing on Social Media and educating about these facilities to every senior citizens will bear fruit for our efforts.

Click here to know about your rights.

Which facilities are must required for Senior Citizens? Write your thoughts in comment section.