Last week I thought of buying gold coins for Akshaya Trithy. I spoke to a private bank and nationalized bank through phone about their pricing and found that its almost 500Rs lesser in nationalized bank due to various reasons. So, I decided to purchase from them and went to one of their branch around 3 PM, that’s where the shock came to me about their ridiculous procedures.
1. There is no one available in reception to guide me where I can find details.
2. After I found the appropriate section, the person in charge told they wont sell to credit card. How strange, I believe they still do business in 1970′s.
3. Now, the funniest part – I asked him whether I can purchase it by cash, for that he told bank official hours closed by 2 PM. So, he can’t help that way too.
4. Finally he said cheque would be ok but I should have account in his bank 
. Isn’t it stupid?
Only good thing through out the discussion is that the person who explained all this to me is very polite in his replies and I believes he itself laughs inside on this stupid rules.
Finally, I’m forced to purchase from private bank and incur loss of 500+ Rs. I damn sure this would have happened to at least 100+ persons like me. Lets assume if they all purchase an average of 5 gms, then bank would have made a sale of around Rs.8L. From consumer point of view each of us might have saved 500 Rs there by 50k in total. I don’t know when the top mgmt of nationalized banks understand this and make appropriate changes in their norms to increase additional revenue. This would also make private banks to reduce their rates to become more competitive…
