Latest IT proves costly for bank customers in Kashmir

Srinagar, July 2 (UNI) The latest Information Technology (IT) today proved very costly for the bank customers in the Kashmir valley after they were refused their own cash by the banks following failure of Internet service.

Hundreds of customers after waiting for several hours in the main branch of the State Bank of India (SBI) here had to return to their homes without cash after the authorities announced that no transit will take place because of Internet failure.

Majority branches of SBI and other bank are inter-connected with each other and through internet with the tanks outside the state.

A senior bank official told UNI the bank has suffered losses in crores after the system failed since Saturday following a fire in the BSNL exchange at Chandigrah.

An agitated customer, Fida Mohammad said the system of the bank remains affected atleast one or two days in a week.

He said the old system was better as atleast one could withdraw the cash if it means a delay of one or two hourz. Now one has to wait for days to withdraw one's own cash deposited in the bank. He expressed anger over the introduction of the new computer system in banking.

Mr Fida said he had to make payment of raw material purchased for his factory and wages to laborers.

Another customer Bashir Ahmad challenged the claim of the bank authorities that banking can be done by a press of button.

He said that Provident Fund Commission, Delhi, has deposited a cheque in his account in the SBI main branch on June 4. The cheque was later cleared by the banker of the Provident Fund, Delhi on June 15. However, it could not be credited in his account till June 30, he alleged and decided to move to Consumer Protection Court against the bank.

Similar situation was witnessed in other banks in the valley.

UNI