DOES INDIA NEEDS MORE PRIVATIZATION?
After the end of the recession our prime minister Dr.Manmohan Singh proudly said that India even though our country is affected by recession it is able to regain itself because it is totally under government's control wow very good really the PM needs applaud doesn't he?
The experience which i faced today is making to write this don't just think by looking at the heading im writing a blog which is based on finance.
That was the worst explanation i have ever heard in my entire life.A bank which which has 13 head offices in our country and each headed by its own board of directors calling itself as the PSB(public sector bank) ran out of money..This is the way the public sector banking is..so doesn't it need privatization?
The experience which i faced today is making to write this don't just think by looking at the heading im writing a blog which is based on finance.
Today i went to bank a nationalized bank(just don't want to mention its name). A bank which citizens feel as a people's bank and a bank where maximum number of transactions takes place.Actually i went along with my mom to withdraw huge amount of money.Folks,don't get amused to now what im saying he said the bank ran out of money.I was like what,ran out of money what do u mean? the bank which plays the key role in BSE ran out of money?The one who said bank isn't having money said us it again told us it takes again 4 hrs.4 hrs?What happened to other branches that are there in the same city.No money in the bank..Now a perfect poker face is with me.I went to the bank around 10.45am the officer told me to come at around 2.30am he said the bank will work in the afternoon despite being a saturday.My mind played with dozen illusions i felt like telling him "Mr.officer i don't want your atrocious explanation im neither taking your money nor the bank's money.im taking my own money.now keep your filthy reasons to yourself and give my money.Good language is not apart of me okay." even though i didn't say that because of my mom.My mom called to my dad and explained the whole thing my dad.My dad who is just like me became so furious and started yelling in the cell.
The point here is why are the banks which are albeit nationalized doing this?why are these banks behaving like that to people?If you go for 1st time they say application is inappropriate and for next they say procedure is fault and other time they say signature's aren't matching and who told you to this?If we are in a hurry for the money the manager and the clerks are the worst sort of humans.They demand us an explanation why do you need the money?Why are they so much insane?They think people who come have least knowledge about banking sector. For a loan to get sanctioned it easily takes 1 month.If your a senior citizen or uneducated person hell is ahead of you.really,im not at all kidding.Even the clerks behave like they have owned the bank.Banking sector is the arena which people are the one who invest and they are the one who take loans.Does it mean that you have to give least importance to them.This is the not the only one case i can give a plethora of incidents like this.Banks get leveraged by people right..My question is why is it not happening in private banks.Why do the private banks thinks people are the one who are very important to them is it for their survival?The answer is may be.And PSB's are behaving like this because they claim themselves as independent bodies and irrespective of people they think they can do well..answer is noThat was the worst explanation i have ever heard in my entire life.A bank which which has 13 head offices in our country and each headed by its own board of directors calling itself as the PSB(public sector bank) ran out of money..This is the way the public sector banking is..so doesn't it need privatization?
This is not an economic or finance article
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