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Forms and procedures should be uniform for all banks

Kashmir Times. Dated: 12/7/2018 11:32:45 PM

Dear Editor,
Applications-form for opening new Public Provident Fund PPF account is Corporation Bank is wrongly designed with a provision of Joint Accounts. But PPF accounts are not opened in joint-names, thus confusing both the applicants and the bank-officials wasting man-hours in hit and trial to open PPF accounts. Ultimately the accounts were opened in individual names. Moreover while all other banks like State Bank of India have provision to provide pass-books for PPF accounts, issuing of pass-book could not be possible for a 20-digit PPF account-number while passbook-printer and software at the bank is designed to handle only 15-digit account-number. Corporation Bank headquarters should look into the problem by modifying the form and the software to print PPF passbook. Moreover there are useless formalities for unverified witnesses required to sign the form even though the applicant is already customer of the bank. Such useless formality of getting account-opening form to be signed by two witnesses should be abolished.
It may not the problem with only Corporation Bank. Department of Financial Services DFS and Reserve Bank of India RBI should devise common application-forms for all types of accounts to be opened in the banks including also for government savings-schemes and 7.75-percent RBI bonds. Provision may be there that all such forms to be available on websites of all the banks, may be on-line filled on computers and e-mailed to banks like is done in case of application-form for passports. Applicants go to banks personally to sign such e-mailed forms and verification of documents. Provision may also be there to download the filled forms and present those to banks physically in case applicant does not favour e-mailing the filled-up form on computer.
—Subhash Chandra Agrawal,
1775 Kucha Lattushah
Dariba, Chandni Chowk Delhi.