As stated in my previous post regarding directions of Ministry of Fiance to all Banks, RBI and IBA, I plan to file class action suit in the National Commission. I request if any of the member feel that he has been charged more on a/c of SMS alert services, to raise an application to seek information under RTI Act 2005. The banks at present are charging an amount of Rs. 16.85 per quarter as against the directive of RBI to charge on per SMS basis. The prevailing rate of SMS on bulk SMS basis ranges from Rs. 0.05 to Rs. 0.10 per SMS. Uco Bank is charging Rs. 0.12 per SMS.

While the individual customer could be getting charged more by about Rs. 60-70 per year, the total such unethical revenue could be somewhere around Rs. 2,000 crores or so and need to be refunded back to the customer. While my efforts are with both public as well as private but class action could be possible even if we can support our case with such practices in PSU banks.

If members (having a/c in PSU banks) feel, I could make a template of RTI application. I would be comfortable if some 20-30 members could come forward. more  

View all 8 comments Below 8 comments
Yes, there is a big scam in charging on the name of services ie messaging,
ATM, pass book and so on. So I am with you sir. more  
They should charge less than Rs, 10 a tear. Let us ask copy of note from Govt files wher this decision has taken place and at what level in RBI. How have they arrived at Rs 16,85.

Jaihind more  
I fully agree with Mr Virmani.Banks are not able to control their NPA's and have adopted this route for mobilizing profits.
I would like to give two such examples. In one of my account with HDFC, inspite of the fact that I did not opt for debit card, I was being charged for the SMS since last one year.
Similarly, in SBI when my son went to open his saving account, he was coerced to take SBI Health insurance policy,I had to intervene and when I asked the concerned Branch Manager to give it writing that an account can not be opened till my son takes SBI health Insurance policy, he agreed to open the account of my son. more  
count me in. I have accounts in several banks. But HDFC is worse. more  
Mr. Virmani, I solicit your views and actions.

I yesterday checked by bank statement (Kotak Mahindra Bank) and they have levied Rs.56.18 per quarter w.e.f Oct'13, vide two entries of Rs.28.09 each. On checking with the bank personnel, he replied that the charges were levied as I have opted for the SMS-facility. Whereas, I cannot recall any incident of "applying for the facility" in the middle of a year. These are totally unfair practices by the banks.

I shall be happy to assist you in the matter.

Nikhil Bansal
+91-9999496878 more  
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