I really am disgusted with the service provided by DCB Bandra branch, details as under :
Some years ago, a cheque issued by me for Rs. 30, 000 or thereabouts was returned for lack of funds whereas my account continuously had a balance of over 60, 000/-. However I chose to accept the written letter of apology by the manager and disregarded it.
Then they stopped the system of Passbooks and started quarterly statements, which sadly I never ever receive.
Due to the lack of receipt of statements, I have not been regularly operating the account. Every six months the account is classified as dormant. When I recently visited the branch I was told that
(a) As per RBI guidelines an account goes dormant if it remains inactive for a period of 6 months which is a complete lie since the RBI circular RBI/2008-09/150
UBD.BPD (PCB) Cir No: 9 /13.01.000/2008-09 clearly spells out the classification of accounts as dormant only after a period of 2 years, and also mentions the steps the bank ought to take in that regard, all of which are continously high handedly disregarded by DCB. The staff lies to customers and states that all banks are classifying accounts as dormant after 6 months as per RBI guidelines. If that is truly the case, and there is some new circular, then why dont they put up the relevant RBI circular or have it ready for our reference, with them? And why no intimation to the account holder?
(b) I was told that as a matter of procedure, dictated by the RBI guidelines, I would have to resubmit my documents every 5 years. If this is the case, should not the bank intimate the account holders as a matter of routine? Why wait till they come to the branch and then tell me?
I am thoroughly disgusted with Development Credit Bank and have thus taken an account closure form. I hope they will not cause me any further pain in the matter of closing the account, when I do so.
P.S. : I wouldnt know about their ATM, phonebanking and internet services since I have never been inclined to use their services, seeing how inefficient they are in even normal branch related banking. Had to rate them though because mouthshut wanted me to.
I have a savings account which is over 10 years old in HDFC bank and one over 7 years old with ICICI and have never once had to even visit the branch, though I am operating the accounts regularly. Same with nationalised banks.