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Wednesday, Feb 15, 2006


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Scrap drop-box system in banks: Consumer body

Our Bureau

Coimbatore , Feb. 14

A REQUEST to the Finance Minister, Mr P. Chidambaram, to instruct the banks to scrap the practice of asking customers to drop outstation DDs/cheques and even instruments drawn on the same branch into the collection boxes kept inside branches, has been made by the Coimbatore Consumer Cause (CCC).

The consumer organisation has also pointed out in some cases the banks that have misplaced the instruments dropped into the collection boxes were `harassing' the customers for evidence of having put the instruments for collection.

Mr C.R. Rajkanth, President, CCC, in a letter to the Union Finance Minister, said some of the PSU banks and the private banks were asking their customers to deposit not only the outstation cheques/DDs for crediting into their accounts into collection boxes kept inside bank premises but even instruments drawn on the same branch of the bank. The latter made the customers wishing to withdraw money against the deposit they have made to wait for the amount to be credited into their accounts that took 1-3 hours.

He said the customers who deposited instruments in collection boxes did not get any acknowledgement from the banks that denied them of the evidence for having submitted them. He said a few instances where the bank that had misplaced the instruments deposited by a customer into the collection box harassing the customer for evidence of deposit has come to its notice.

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