It refers to state Bank of India taking initiative to do away with bank-charges for electronic bank-transfers. System should be that all requirements like Minimum Balance, interest-rates, bank-charges and other procedures may be uniform for all public-sector banks. Cover-page of pass-books should incorporate all details including even name of nominees of account-holders as submitted to the banks for convenience of account-holders so that bank-customers may not have to face problem in case of fading memory with lapse of time with account getting older.
Department of Financial Services DFS and Reserve Bank of India RBI should devise common application-forms for all types of accounts to be opened in the banks including also for government savings-schemes and 7.75-percent RBI bonds. Provision may be there that all such forms to be available on websites of all the banks, may be on-line filled on computers and e-mailed to banks like is done in case of application-form for passports. Applicants then can go to banks personally to sign such e-mailed forms and verification of documents. Provision may also be there to download the filled forms and present those to banks physically in case applicant does not favour e-mailing the filled-up form on computer.
All government savings-schemes presently available in post-offices should be available at all branches of various public-sector banks.
MADHU AGRAWAL