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BANKING AND COMMON MAN
‘BANK’ as per the Oxford Dictionary means ‘a public place’ where money can be deposited, withdrawn or borrowed. Truly, bank is a place where a person can keep his savings and live peacefully and withdraw it as and when required. Banks to facilitate the needs of people have different types of facilities like depositing money in the bank, borrowing money in the form of loan, overdraft facilities etc.
In todays era, bank has become as important as the other basic necessities of life. As Bernar said “Those who are rich, they think love is most important but a common man knows its money”. Truly, money has become necessary in todays world. So a common man to save his money, deposits into the bank and lives a relaxed life. Bank provides different types of facilities. Not only money, one can keep even precious articles, such as gold Jewellery etc. safe in banks. Banks provides lockers for such articles. To save money, one can open a saving account or a fixed deposits. Bank provides interest on the money which encourages people to keep their life savings safe in banks. Looking at the increasing and changing needs of the people, banks have also started providing additional facilities like loans – educational loans, home loans, agriculture loans, vehicle loans, business loans etc., overdraft facilities, Mutual funds etc. Every now and then schemes and plans are introduced to encourage people to invest in their banks. It also provides pension for old people.
Gone are those days when people had to wait in queues for 20-30 minutes to withdraw cash, 2-4 days to get their cheques cleared, 1- 2 days for demand drafts to be made to wait for long hours for their pass books to be taken by reluctant bankers. With fast needs of people, their growing demands, and provate banks like ICICI, HDFC etc. are coming up. The Government banks have also started providing better facilities to their people. Now the services rendered by them are comparatively faster than before. With changes in technology, advanced facilities are also provided to its customers. Now at a flick of card you can withdraw your cash from ATM. Internet banking that is e-banking and mobile banking have also come up. If your bank provides Mobile / phone banking you can even get your cheques delivered at your door step. Debit cards and Credit cards have also made out lives quite easy. Now we don’t have tension of carrying too much Money with us. Just a small card serves the purposes. E-banking can help you to deposit or withdraw your money in which ever part of the world you are. ATM provides you cash at any day or any hour of the year. With the use of computers and electronic gadgets any problem regarding money can be solved for a common man by banks easily.
“Every Coin has two sides”
Similarly, some services provided by the bank should also be improved, Even today, in some banks the customers are not being properly attended and they are treated as if they are being obliged. Even today, there are delayed payment of cheques, late demand drafts, inconvenience in withdrawing cash etc. Every now and then, customers are disturbed by the banks by calling them and informing about the new schemes and plans which annoy the customers. If a person from other city, gets settled in another city, while opening a saving account needs to give a verification address of the previous city. Thus for clearing of verification, bank takes over a month which causes a lot of inconvenience. Even for old people, getting pension requires a long procedure and the inconvenience caused to them is often troublesome.
“Money is the sixth sense without which the other five cannot be used”
The increased need of money and poverty prevailing in India and the increased ‘Man’s greed’ also forces a man to commit crimes such as theft. Thefts in bank have become a very common aspect. Hacking has become very popular. A person good at hacking (that is- a hacker) often hacks the account of other people and transfer all the money into his account. This has now-a-days become a very serious problems, threatened by which a person sometimes hesitate to deposit his money into the bank.
To end up with, in a nutshell, banking is a service rendered with an object to help common man. It has become a basic necessity in the life of common man. Banks previously were concerned with withdrawing, borrowing or depositing money but as per the needs of people it has altered itself and no wit provides every help related in terms of money. The common parlance followed by bank is ‘service with a smile’. Common man has now learned to link itself to the bank and bank to the needs of common man. Banks are really good service providers for people who want to save their life savings. There is a bit of lenience in services provided by the banks but after all nothing in this universe is perfect. In short, one can conclude that ‘banks are the real service provider as per the needs of people in this country.”