2. Pensioners' woes double, but
depositors cry less.
Complaints from pensioners have almost doubled in a year’s
time while those from depositors have halved and credit card
and direct selling agents have come down.
Banks received as many as 4,831 complaints from
pensioners against 2,916 a year ago while depositors’
complaints have reduced from 6,708 to 3,681 in 2010-11.
Banking ombudsmen received a total of 79,266 complaints
compared with 69,117 in the previous year, up 14.7%.
Looking forward, a customer service rating based approach
with quantitative parameters ultimately linked to its capital
can serve such a purpose.
3. The report shows that the share of complaints have declined for
new private banks and foreign banks to 15.1% from 17.5% a
year ago.
However, it should be noted that the share of banking assets of
foreign lenders declined from 7.2% from 8.5% last year while
that of new private banks in India fell from 15.2% to 14.6% a
year ago.
The share of complaints from nationalised banks, PSU banks,
other than the SBI group, was almost one-fourth against 22.4%
a year ago.
Chennai had the highest number of complaints at 12,727 against
10,381 a year ago, followed by New Delhi at 12,045 against
10,473 the previous year. Mumbai recorded 10,558 complaints
against 9,631 a year ago.
4. RBI doubles online money transfer
limit via RTGS to Rs 2 lakh.
The Reserve Bank has doubled the threshold limit for electronic
fund transfers using the Real Time Gross Settlement (RTGS)
system to Rs 2 lakh with effect from November 15.
It has been decided to increase the threshold limit for RTGS
transactions from the present limit of Rs 1 lakh to Rs 2 lakh.
The RTGS system facilitates high-value transfers of money from
one bank to another on a real-time and gross basis.
The central bank said the RTGS system has witnessed
tremendous growth in terms of both transaction volumes and
values since inception in March, 2004.
5. With the increased number of electronic payment
transactions, it has become expedient to position the Indian
RTGS system primarily for processing and settling large
value payment orders," the RBI had said in its second
quarter monetary policy review.
The RBI has revised the service charges for fund transfers
through the NEFT mode. Fund transfers up to Rs 1 lakh will
continue to attract a service charge of Rs 5.
6. RBS plans to triple wealth management
business in India
The Royal Bank of Scotland will use its banking licence to
provide banking services to the well-heeled under its private
banking division after it divests its retail and commercial business.
Even as the UK bank is in talks to sell the retail business of
erstwhile ABN Amro, RBS is drawing up plans to triple its wealth
management business in India.
RBS is currently in talks to divest its commercial and retail
business in India to HSBC .
The sale is a part of the bank’s effort to cut down its size globally.
But the UK bank is growing its private banking business which
targets the rich with liquid assets equivalent of at least $1 million.
7. One of RBS’ retained business in India is global
transaction services, which has a full-fledged platform to
offer banking services, which goes all the way from
providing checking accounts, deposits and other cash
management services to NRI deposits.
To expand its suite of services, the bank plans to bring in
expertise on philanthropy and family business to India
shortly.
RBS private banking is not a new bank, it is the new
name of an existing bank that has been enhanced.
The proposed divestment of the retail and commercial
banking business would not have impact of the success
of RBS private banking
