Customer, not the King anymore at SBI
Banks preparing to milk customers for its inadequacies. Debkumar Bhadra | Musings of an Islander | South Andaman On 28 August 2014, the Prime Minister of India launched Pradhan Mantri Jan Dhan Yojana (PMJDY) scheme for comprehensive financial inclusion by opening a bank account for every household. The goal was to ensure that every citizen has access to financial services namely Savings and Deposit Accounts, Remittance, Credit, Insurance, Pension in an affordable manner. In an email to Chairpersons of all PSU Banks the Prime Minister categorically stated that “bank account for each household was a national priority” and urged banks to gear up for the gigantic task. Response of the country men was such that a Guinness World Record was created by opening 1.5 Crore bank accounts on the inaugural d...