Jaago India Jaago

Year : 2007
Month : January
Date : 14th
Day : Sunday
Occasion : Makra Sankrant

On 14th January I had returned back home after a week long official tour. I was rejoiced to be back with my family. After lunch it was time to sit and chit chat and talk with my wife and kids. As our discussion started my better half reminded me that the next day was 15th January 2007 the day of Pongal Festival. Being a South Indian Pongal to us is of greater importance than Diwali.

Being a day of festive and an auspicious day, my better half insisted that on this day we should start doing something new. I could not understand what she meant by new. When I asked her to clarify herself she told me that we need to open an account in our Kids name. I too wholeheartedly agreed with her as having an account in our kids name and teaching them the importance of saving was the need of the hour.

I told her that tomorrow on the day of Pongal I shall get the necessary account opening forms from one of the leading banks. Next day I got up early and left my residence and had a quick tour to all the leading banks and collected account opening forms from each one of them.

On reaching home I started showing the forms of the banks to my wife and asked her for her opinion.

First on my list was IDBI Bank as that was close to my office, she said NO.

Then on my list was UTI Bank the bank with whom I Bank, she said NO.

Then was the turn of , , , , but she clearly said NO to all these banks. By now I was totally frustrated and I simply asked her that if you do not want to bank with any of the above banks with which bank do you want to open an account.

She clearly told me that she did not have trust or confidence in any of the hi-tech banks or International Bank. I was confused as to what she meant by hi-tech bank. She said that any bank with the facility of ATM or Internet banking was a hi-tech bank and we should not operate the accounts for our Kids with such bank.

I was dumbfounded to hear her desire. I was also curious to know what made her decide to bank with a bank without facility of ATM / Debit Cards. On asking for the reason for such a decision she told that it was very simple, once we have the kids account with such bank providing the facility of ATM / Debit Cards etc. we will be tempted to withdraw cash using their ATM during the hour of need and she did not wish to withdraw any amount from the Kids account. Secondly all these banks having internet banking and ATM facility also has something called as Hidden charges which was against her principle.

I completely agreed with her views, atleast, with regard to the hidden charges being charged by many of the banks. Now the confusion and doubt in my mind was, in the year 2007 when even a kid is aware what internet is and even Co-operative Banks offers ATM / Debit card facility as a package of account where should I hunt for a bank which does not have ATM / Debit Card facility? Even if such a bank exists I was confident it will be in such a rural / remote place where it will not be feasible for us to go to operate the account? If we cannot operate the account what was the use of opening or having such an account?

I was totally nervous and I put all my queries in front of my better half. I was surprised to see that she was totally calm, she just smiled and said, “No need to worry I have already thought of such a bank which meets all my requirements. It will neither offer us ATM / Debit Card nor give us an opportunity to bank through Internet”. I was surprised as well as eager to know which bank she is referring to. I said to her “Now without keeping me in dark just let me know which bank you are referring to”

She said that the bank which she is referring to is none other than the age old bank , the Savings Account with Indian Postal Department is a safe bet as she was sure they will neithe come out with ATM / Debit card nor provide Internet Banking facility atleast till the time our kids becomes grown up. More over there will not be any sort of hidden charges what ever they wish to charge will be clearly displayed in their rate chart. Further it’s the only place which will not be closed overnight nor become bankrupt at any point of our life time.

I gave a thought to all her suggestion and I felt its not at all a bad Idea. Now I was ready with my chappal on to go to the nearest post office to open an Account in the name of our Kids.

I reached the Post Office and located the Saving Account counter only to see that the person handling the counter is missing. I was just waiting for him. Almost after a wait of 15 minutes he arrived. He looked at me from top to bottom and as if he is viewing at any of his enemies he stern fully asked me what was my purpose of waiting there. I humbly told him the purpose of my visit.

He asked me have you got all the documents. I told him sir, I have come here to open an account and not for any loan or something that requires documents. He looked at his colleague in the next counter and commented as to how people without any knowledge of banking come to open an account. I told him that I was unaware of the procedure of Indian Postal Department to open an account. I also requested him to give me a list of documents that are required. He said, just note down the requirements as we do not have anything like a list.

I noted down the documents required for opening the account:

Ration Card copy for Address Proof
PAN Card Copy
Photograph

Then I asked him if I can get all these requirements how fast the account can be opened, to which he replied better do not bring the above requirements this week, you can come and try to open your account sometime next week. I was baffled and asked him the reason for not allowing me to get the document the same day to open the account. On hearing his reply I was about to faint when I was grabbed by the person standing behind me. The person at the counter told “Today we do not have any stock of Withdrawal Slips, Deposit Slips and Pass Books and we are expecting some stock only by next week so please come and try next week”.

I came back home and narrated the incident to my better half. Now she was convinced that the bank providing us with ATM / Debit Card was better than the Postal Banking which did not even have the basic requirements like Pass Book, Deposit Slip, etc. Now she said you can go and check with other bank about their requirements.

My opening an account with any bank is a different issue but what will happen to those crores and crores of population leaving in rural India where there is no major bank but has a Post Office. Inspite of a Post Office being available those people cannot avail such saving facility because of lack of basic infrastructure at Indian Postal Department.

JAAGO INDIA JAAGO