Finance Minister Nirmala Sitharaman addresses a press conference in New Delhi. | Photo: Manisha Mondal | ThePrint
Finance Minister Nirmala Sitharaman addresses a press conference in New Delhi. | Photo: Manisha Mondal | ThePrint
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New Delhi: A purported audio clip of Finance Minister Nirmala Sitharaman taking State Bank of India Chairman Rajnish Kumar to task has gone viral.

Sitharaman, who has been known to lose her cool as finance minister – and as defence minister in the first term of PM Modi – can be heard calling the country’s largest state-run lender “heartless” and “inefficient” in the purported audio clip.

The clip was uploaded on YouTube Friday and was widely shared Saturday.

The purported comments are said to have been made at a meeting between Sitharaman and bankers in the last week of February on issues faced by Assam and the other Northeastern states. The meeting was attended by Assam Finance Minister Himanta Biswa Sarma and officials of the department of financial services.

The finance minister, it could be gathered from the purported conversation, was upset that 2.5 lakh bank accounts belonging to tea garden workers in Assam had become non-operational due to a lack of acceptable Know Your Customer (KYC) requirements.

This had made the implementation of the Direct Benefit Transfer scheme for tea garden workers difficult.


“State bank of India…no good if you tell me you are the biggest bank…you are a heartless bank,” Sitharaman is heard saying in the purported audio clip.

She is heard telling the SBI chairman that the bank should have reached out to the department of financial services to approach the RBI regarding the KYC norms.

“It is your inefficiency that has caused this,” Sitharaman is heard telling the SBI chairman in the purported conversation. “This is utter omission of job. I hold you completely responsible for the failure.”

SBI heads the state level bankers committee (SLBC) in Assam.

SBI chairman Kumar is heard apologising after Sitharaman’s outburst in the purported clip. “I am really sorry,” he is heard saying.

ThePrint reached finance ministry spokesperson Rajesh Malhotra for comment but there was no response until the time of publishing this report.

SBI’s spokesperson also did not respond to requests for comment.

Also read: How government intervention is wrecking India’s banking system

‘KYC compliance issues’

At a press conference after a series of meetings in Guwahati, Sitharaman had said the issues faced by tea garden workers on account of ineffective accounts was being sorted out.

Sarma then added that while 8 lakh accounts of tea garden workers have been opened, 30 per cent of these were not operational because of KYC compliance issues.

“She (Sitharaman) has given instructions to public sector banks that all these 2.5 lakh accounts should be made live…and this should happen immediately,” Sarma said.

On Saturday, the All India Bank Officers Confederation issued a statement condemning the finance minister’s remarks, but later withdrew it saying there was a lack of sufficient confirmation about the sequence of the events.

The withdrawn statement said that the finance minister launched a “vituperative verbal tirade” at the SBI chairman and humiliated him. It expressed its “deep anguish” and resentment for the treatment of the SBI chairman in an “unfair manner”.

Also read: Cabinet approves reconstruction scheme for Yes Bank as proposed by RBI

Late on Saturday night, Sarma hit back at the AIBOC statement in a series of tweets.

He said tea garden workers were being deprived of banking services for the last 70 years due to procedural lapses and lack of alertness on part of local banking officials. Marginalised workers, he added, were not able to access the Rs 5,000 transferred to bank accounts of tea garden workers by the state government.

He expressed gratitude to Sitharaman for “championing the cause of these deprived workers” and for her proactive stance in solving the problem. Government sources said his tweets seemed to confirm the outburst and the audio clip were genuine.

Quoting Sarma’s tweet, Sitharaman also tweeted the statement of AIBOC which said that it was withdrawing its earlier statement and that it was “erroneously issued”.

This report has been updated with tweets of Sarma and Sitharaman.

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  1. Sbi is doing service to the nation as a whole. Which bank may be considered as a perfect and society oriented bank.. please converse. S pitchai chennai

  2. Dear honorable Finance minister SBI is huge and largest banking institution they are always doing and giving their best in all probabilities. It is very wrong and incorrect to come to the conclusion. SBI is incorrect to say heartless SBI has a huge heart serving people in thick and time in all probabilities

    • Staffs are very rude in their behaviour to the customers in most of the SBI branches. Shame . If govt. have not given certain exclusive rights to SBI. Hope more than 50% customer will don’t care about SBI. Waiting to see the day when SBI will become the last option to bank with.

  3. Honarary Finance Minister It is very wrong to humiliate the chairman of one of the most premier banking institution sbi in all probabilities and always at receiving end inspite of working hard for the country and has given it’s best in an organized and professional aspect . sbi is not heartless bank but with a very large heart always working beyond their full capacity

  4. it is feat for SBI to have earned such reputaion remark from Union finance minister;
    the reality hardly ever realised while framing rules and while implementing, not minding common man’s ralities

  5. Why SBI all d time. Without SBI no one can do banking. It is d need of every petson. With a meagre salary and so much pressure since demonetisation we employees slog even on saturdays Sundays bank holidays and u all r worried about d humanitarian grounds and violation of KYC norms.

  6. People putting a lits of funds sgoukd have KYC. But who gets free need not. Instead the FM shoukd have asked reasons and find why so many dont do KYC. SBI chief should have been given time to respond. Was it told to him before hand? Those with non KYC people might be sneeked foreigners not havein docs. SBI, shoukd investigate and publsh tge tryth behind the story. This is the same SBI swalliwing unwilling pilks of Govt. Schrmes out of our money.

    • Mr. Gooslan You have not faced the ire of bank staff how they treat their customers. The finance minister was right in raising this for the poor tea workers who are totally dependent on their earning. The have to support their family members.

  7. Some branches of SBI are very efficient. But most are indifferent to customers. They consider the customers visiting the bank as nuisance. They even refuse to look up at the customer who is standing before them! Visiting SBI branch is a pain in the neck. Incidentally, you have chosen a most unflattering photo of Her Excellency the FM, stabbing with her hand into the air. Regrettably, she hits headlines for all the wrong reasons.


  9. SBI is safe for investors, due to government ownership. During 2007-2018, GOI has infused 2.6 lakh crores in PSUs towards NPAs and capital addition. Including in SBI. And, salary levels of SBI are highest in Industry, at 13%. FM questioning the bank is perfectly alright

  10. The term Heartless is aptly stated by our Honourable Finance Minister of India to SBI Chairperson.It seems also the SBI Authority is also not concerned about the interest of their accountholders.Presently I am a senior citizen.I have failed to convert my sb account to saving plus account at SBI 00104Branch despite submission of representation 4 yrs back and afterwards by sending email etc to authority concerned.Very unfortunate.

  11. Out of 8 lakh , a 30% (2.5 lakh) account without kyc , why FM government of India insisting to open, whom they want to favour ,

    she should instruct to be liberal but should not tell to open account with out kyc

    At any cost

  12. Madam is playing vote bank politics. What did she do when lakhs of disabled soldiers received only 100 rupees as pension for the month of February 20? Absolutely nothing, as the disabled soldiers are spread far and wide in the country and do not form any credible vote bank. This despite a stay by the hon supreme Court of the country. Shame on the vindictive attitude.

  13. Our banking system must run by law, not by pressure from govt. As everyone knows kyc is must, how can our FM pressurise SBI chairman to work beyond law and illegally. YES bank ke bad SBI ko dubona chahte ho kya madam FM.

  14. I am a retired Sr. Citizen who has pension account in Shastri Bhawan, New Delhi branch of SBI. In 2019, bank refused my Cash withdrawl from my account for want of KYC. I submitted KYC forms. This year, in Feb.2020, I issued three cheques. While two cheques were cleared , one cheque bounced for KYC. Cash payment was refused too. I was asked to submit KYC forms again. I submitted KYC forms again on 7.3.2020. I opened account in SBP in 1976 which later merged with SBI. Officers & staff of this biggest Bank of India were so indifferent and casual and treated me as if I had come from another planet for my own money. Even for Form 16, I have to visit Bank so many times as their server is not working. It’s good to be big but it will be nice if you treat your customers with little humanity.

  15. As PSBs have successfully carried out Govt’s many flagship programs like:
    1. Jan Dhan yojana
    2. APY
    3. PMJJBY
    4. PMSBY
    8. PM KISHAN
    9 SVAYEM
    ……………. etc. etc. the list continues…..all public service programs routed through banks, banks should also be entrusted to issue Voter’s ID card, cause name appearing on the card always differs with the PAN card….lol…. and it takes 100 years to correct it correctly. KYC problem root cause will be solved.

    Do not forget demonetization!

    Liberalized KYC …? Why only for a section of the population….. yeah ….something fishy ha ? ….lol….carry on ……doing good…. but try to remember RAJ dharm.

  16. If the beneficiaries can’t complete basic KYC, how do we know the the public money will go to the right deserving people and not frittered away by politicians thru fake accounts. How can anyone say these are accounts if genuine tea plantation workers.

  17. Very true madam. These people are don’t care of customers and shows attitude always . They least bothered of customers.

  18. Lethargy has taken over SBI.The people manning the SBI are mindless, indifferent and enefficient.They are bereft of compassion,empathy and hot headed bunch of stupid people.The FM rightly pulled up the SBI Chairman.KYC is an instrument to harass commoner whereas waginng tails before the rich.I cogratulate the FM for her courage

    • As an retd DGP and from law abiding citizen a comment like this is very meaningful good very good keep this up!

  19. Why it shud not be made public they are elected by public and receive their salaries and perks from public’s tax. They r govt servant’s and govt elected by people

    • No you are wrong about salary. Please go through bank balance sheet carefully then give statement again…
      Bankers dont get salary from your donation(income tax). It is apart of expenses in balance sheet of a bank.. Btw SBI has a big profit in balance sheet every year..

    • Some fools everytime criticise psu employees as they r being payed from tax payers money. They r serving working and earning their salaries but not looting public money as our politicians

  20. Why not distribute Cash? All this fiasco can be avoided. No; direct cash distribution may lead to pilfering of the subsidy. Hence, to facilitate the transfer of subsidies to genuine needy people it was decide to use the Direct Tranfer Scheme, where the money gets directly credited to the genuine beneficiaries.
    Now if KYC is not done, how will a bank ensure genuineness? The whole thing, this Direct Transfer thing gets defeated.
    Yes, the SBI local bank officials should have been more proactive in getting KYC done and documented the efforts put in where the KYC was not possible due to whatever reasons, so that neccessary steps can be taken.
    The whole issue is mismanaged from all angles.

  21. Truth is always bitter. SBI and its employees have forgotten the fact that customer is most important visitor to their premises. The employees need an overhaul. FM is right

    • I think she is multi talented, from defence to finance…. and what about chairmen, does he know more than than FM, FM knows everything, our economy is at its peak due to her, what does a chairman know about about a bank, does he know more than a neta, a frustrated neta, Jo apna failure dusro pe thopna chahti hai. Kuch jaanti hai Kya banking industry k baare mein, Kya ho Gaya bjp, aisi Kya aafat aa gayi Jo iss jaisi mandd buddhi neta ki FM bana Diya. ……..

  22. There is nothing wrong if people follow the king. Yatha raja tatha praja. Ms. Sitaraman should know it.

  23. Agree with Miss FM, earlier I thought she is unable to perform but this video proves that the officers r lazy and sick. FM shd be more strict with them.

  24. Yes nirmala madam is absolutely correct. Sbi is the worst bank in India. Useless greedy staff. Always begging for more salary and allowances without doing the work properly. Even after a year I am unable to get chip based debit card in spite of submission of kyc several times. They refuse to give any acknowledgement when kyc and application for debit card is submitted. But they insist that the depositor should come in person to hand over these documents. One has to wait for half a day to submit them. The banking service ombudsman is the other useless one. It is not capable of taking any action on the erring staff.

    • 🤗🤗🤗 First get to know why the account becomes inoperative….. If you are unhappy with SBI you can choose YES bank. You said you have to wait in a long queue… So lots of customers have to be served by the limited staff. You will never know under what kind of pressure bank employees are working. And about salary and allowance…. Compare it with other departments. By the way I am proud to be a SBIan

  25. Talk about KYC? I personally know around 55 account holders of SBI those are helped by the manager and got their KYC done only to sustain their accounts. A part of SBI management doesn’t really value the account holders and they avoid having low transacting account holders.
    They don’t mind to issue crores of amount to a minimum KYC Company and get him bankrupted. But surely towards the labourers they are KYC oriented organisation indeed. Feeling ashamed of this functionality of SBI.

  26. She is just a robot press any button she start bursting to the employees in defence also she was asked what about the bulletproof jackets she had no answer . Now somebody asked her about the Banks she bursting their own government had selected the sbi chairman and now these .

    • If she had not rebuked then she would have been a hot topic in the media as “indifferent towards poor and capitalist” and this time as hse has called them heartless again she is in the news. This is the dilemma of the Indian oppositions.

    • All these are knowingly created Drama to make the fool.Their main aim is to engage the people of the Nation in a busy schedule. So that no one can ask about feed back of their promises.

  27. Yes it’s happens in SBI, some supremo to be Ask then only some awareness and correction may be come in future.

  28. This is how news channels work, because my comments were against their leaking the phone call, my comments were removed from their website.

  29. I salute you Nirmalaji. Outburst and all are not the proper treatment. Some solid action should be taken on the then chief who has comitted this. SBI is not for common man. As some gentleman said above, it is for people like Vijay Mallaya who has swindled crores of rupees and taken refuge in UK. The so called white collar job people in the Nationalized banks are very rude, which is my day today experience.

  30. May be FM was a little has but everyone knows the harrasment of PSB officials. The no longer remember that “the customer is the king”. Streamlining them with a humane touch is the need of the hour with stringent punishment to those who fail.

  31. It’s unethical to leak a work related discussion between the finance minister and the SBI chief. This only spoils their images. If the board meetings of any corporate company are recorded and leaked, they might sound much worse. I can understand the anguish and concern of the finance minister when a government scheme is not reaching the poor and oppressed. We should be happy and appreciate her work.
    If a news channel or a news paper ran a report on the failure of SBI, we all would have happily pointed a finger at FM and SBI Chief saying it’s their failure. When they realise their own lapses and try to correct, it should be appreciated.

    • This seems purposely leaked to promote BJP and finance minister creating unnecessary publicity. Instead she should be more concerned with reducing petrol diesel prices on which each and every citizen of India would be benefitted though crude oil price being the lowest in history. But instead she is worried about less than 0.1 percent people. Other aspects like inflation, jobless, etc. is not at all considered

  32. Really SBI a heartless bank .
    The workers of this bank are rude n misbehaving. They do not help the helpless costomers.

    • The KYC is not the brain child of the bankers. It’s the government that wanted everyone to comply with procedures. Unfortunately the procedures are only for the common man. The bank officials bend backwards to help the likes of Nirav Modi Mehul Choksi and Vijay Mallya.

  33. From all of this it seems RBI Makes norms regarding KYC and SBI has to ensure that they issue all these documents correctly and timely to all the people comming to open their accounts at their branch as any delay in issuing these KYC documents by SBI delays or ends in freezing the newly opened accounts.
    And as all of this also points to the fact that since the salary of SBI employees is being paid by the government from the taxpayers money in the cases of most of the commenters here..they should not bother about profitability and spend 100percent of their time issuing KYC Documents so people don’t suffer….

  34. This govt only plays a blame game,, the SBI failure is a failure of the FM,, then why the hell is she seen blasting the SBI Chairman,,,,, fire the RBI governor eho reports to her and the govt,,, this govt andvtheir clowns are just a bunch of blatant white liars

  35. If KYC is like what will happen if CAA – NRC is done in India
    Employees or staff working under this scheme will make more money for their service
    Total investment for this work is less than total return after investment in this project
    In effect this will divide india into 2 parts with or without citizenship person in India

  36. After seeing Modi, Amit Shah, Nirmala Sitraman I am loosing hope on BJP… because they wont agree on thier failures and simple blame others…please i will Request BJP, RSS, VHP and BJP alliance please think these people …are they doing correct because this is not Modi failure it is BJP failure.

    • You are 100% right. Now all these hazards with KYC have been created by BJP in power. Previously KYC compliance was not tough to account for. But BJP in power included many things and many useless paper work and the system have became so complicated to create customer ID that it takes much time to complete an account.

  37. If KYC is like what will happen if CAA – NRC is done in India
    Employees or staff working under this scheme will make more money for their service
    Total investment for this work is less than total return after investment in this project
    In effect this will divide india into 2 parts with or without citizenship person in India

  38. I request SBI Chairman to ignore the comments of Finance Minister. She is under pressure as she is unable to perform, control the economy. None of her measures are working to improve the economic conditions of India. She is treating Indian Economy like homely kitchen. A clear sign of her frustration to shout on her team members.

    • SBI chief must be Congress left hand doing for Congress party all these.He should be stripped of all his power transfer to smallest village.

  39. I completely agree with our FM. Some branches of PSB’s are the best but some are very bad. It was a nightmare when I tried for an educational loan for my daughter. Finally I did not even cross the application stage of State Bank of India and Bank of Baroda. Currently my maid is being harassed by Union Bank. She is not allowed to withdraw money from her own account and the passbook has been kept back by the bank official. Now the poor illiterate woman has no proof.

  40. FM misinformed about KYC norms strict implementation under Government /RBI mandatory directions.She had to be taken sportively how people are suffering under KYC norms stipulated by the Government.She is another person in Pujari while framing rules of KYC.

  41. Last year I had submitted KYC and this year also they want KYC….
    Actually SBI doesn’t want to know their customers. & They are very rude to their customers.
    Nonsense bank

  42. A politician is a politician, whether it is nirmala ditaraman or chidsmbaram. They are not interested in listening to alibies. They want their orders to get implemented. I just involuntarily remember JANARDAN POOJARI. Don’t know why.

  43. Worth less FM of India.. post chhod deti to jyada acha rehta.. Rajnish Kumar ka pair ka juta banne ka aukat nahi..

  44. SBI is really worst bank in India, FM has done good job such illegal and also they should penalised for such behavior ,so that it should not be repeated again.

  45. KYC compliance comes directly under the purview of RBI. SBI chief is simply following the instructions set by the RBI. It’s better she should monitor the fiscal deficits first rather than firing over SBI chief who is the only PSB giving profit to government. When all have got down SBI is giving it’s all to save the economy. If she was that good or the RBI was good YES Bank could have been saved. Because of her untimely measures the economy is in bad state.

  46. Our FM is a completely failure FM of independent India. Market is slowly going down day by day. Large number of people are being jobless. Creation of New jobs at the lowest level ever.
    Banking industry is facing huge pressure of government’s political motivated schemes. Banks are doing well with limited number of staff.
    KYC is the basic need of banking industry. Without KYC, no bank will able to take risk to outflow fund.
    Perhaps FM is doing drama and want to pose like a strict administrator without knowing the the basic principles of banking.

  47. Who makes the laws? Government
    Who implements them? The Rbi.
    Who follows the rules? The banks.
    Sitaraman why make kyc rules when you don’t want them to be followed?

  48. It is usual in private sector job on review of job. SBI is now worth less eg,for changing mobile no in current account it took four months ,finanally I have to transfer my SB account to current account branch and delete PAN no from SB account then many procedure. Branch level people donot know the change in soft ware. Who is responsible for this ? Head of organization or else.
    Finally ON What intention he share to public,it is to study.

  49. FM is correct in her action to give immediate relief to tea garden workers. Her point with SBI chief was to apply discretion against the rule of law, in situation like this born out of ignorance of workers for adherence of KYC rules. This episode need not be taken seriously by both the parties.
    Situations, sometimes demamands to use discretionary powers to overcome serious hurdles experienced by innocent workers of tea gardens.

    • If discretion is used and something like fraud happen nobody save the official. I have worked in Vigilance department. It is necessary for the RBI to take a call and issue liberised KYC guide lines in such cases. It is unfortunate situation happened in meeting and it’s audio clip circulation.

  50. It is fact that day by day the working style of SBI is going down, behavior of staff is not good, they think they are the only bank in India rendering service to Government employees and people don’t have any choice.

    • the worst bank ever is sbi… as a citizen of india I would tell definitely it’s the worst bank manerless people… they treat people so badly and they make people wait for no reason.. office staffs are real worst …. honestly heartless people….

  51. No need for such anger madam once you come to this seat you will no the difference. you are rich so u forgot the poor one. No liberal no differences this is democratic country. Such anger as an indian leader dont suit you. I am an ordinary man not strong as you. But i know how to be good to all.

  52. Will she show the same courage to shout at Modi who announced Demonetisation which has put million poor in a mess. As a matter of fact, the number of ATMs are slowly being reduced and man even in city is short of cash. Also at whom she will shout for first introducing ₹2000 which is slowly being withdrawn now. Who is responsible for spending money on this new currency. It seems Modi and Shah has shouted at her for not getting donations for BJP from SBI and she is now passing on her anger on SBI Chief. If Chief has some dignity and self respect he should put in paper. Ms Seetharaman can resign as FM and become Chief of SBI. If the country’s FM can be rude, imagine how the PSU staff would behave with customers

  53. The problem appears to be that of updation of KYC which is mandatory for Banks to classify accounts as High/Medium/Low risk, as RBI guidelines. In the past RBI imposed penalized banks for non-compliance. The occupational hazards in banks have multiplied off late and every transaction is a commercial risk and the personnel must give adequate weightage to this factor especially in the present circumstances of loans/advances becoming bad and NPAs especially those of corporates/govt.sponsored schemes and also agri. Loans what with loan waivers announced by successive GOP’s and not say YES from the bottom of heart by banker for every proposal, which exactly is what happened with YES Bank. The FM should have thought about these risk factors before bashing the Chairman of the biggest bank, SBI, which often comes to the rescue of GOP be it investment in YES Bank now, or undertaking the management of GOI Sovereign Bonds / Electoral Bonds etc., and many more. This issue which should have been privy has now become viral and damaged and irked every banker and will he now perform his functions whole-heartedly or stick to laid down rules to avoid taking risks.

  54. Honrable minister realised the now that SBI is fraud bank. No kyc done for Vijay Mallya and gave people money to him. I realised long ago when SBI cheated me in my car loan and looted my money and gave to Vijay Mallya. People of India should realise and stop dealing with this bank as soon as possible. Shameless bank.

  55. SBI is too slow.
    It took me 7-8 days to open an account with their Model town Ludhiana branch.
    SBI Doesn’t care about its customers’ time.
    FM is perfectly right in tightening them.
    RBI’s current Governor and all past Governors’ pension should be stopped for the NPA mess they have created.

  56. SBI is too slow.
    It took me 7-8 days to open an account with their Model town Ludhiana branch.
    SBI Doesn’t care about its customers’ time.
    FM is perfectly right in tightening them.
    RBI’s current Governor and all past Governors’ pension should be stopped for the NPA mess they have created in Indian Banking system.

  57. Honourable FM is Right
    Of course SBI is heartless, due to their so called strike 3 days the bank was kept closed, and the timing of the strike really hurt the people, Bankers have a fairly good salary package and they should think of common people’s inconvenience caused by this strikes , so many senior citizens and pensioners were waiting outside the bank it is really shameful.

  58. She her self is mind less as she don’t know the her department and RBI issue guidelines regarding KYC. We, the bankers are being penalised for compliance and non compliance also. Worest situation. Why should we request for permission to not comply guidelines. If she cares somuch about general public why did not she herself issued guidelines much before.

  59. She her self is mind less as she don’t know the her department and RBI issue guidelines regarding KYC. We, the bankers are being penalised for compliance and non compliance also. Worest situation. Why should we request for permission to not comply guidelines. If she cares somuch about general public why did not she herself issued guidelines much before.

  60. Might be its isolated incident, i am victim of branch managers arrogance when i go for any information, they don’t offer seat to customer when we go to meet them. Unions may raise voice in support of their chairman,.who will come to customers support if any argument ensued in the bank for deficency of service…
    Secondly, if, customers unable to repay loan opt for settlemente,afterwards the same customer again apply for fresh loan his application will be denied fresh loan citing bank may not understand when they advertise for OTS scheme for borrower how can they deny loan further after settlement of earlier loan
    Thirdly, when bank unable to do away with
    word settlement in will cibil operators can do the job.. really incredible

  61. Finance minister does not know ABC of kyc norms of accounts. Due to such political leaders whims the present scenario of Indian banking industry is downtrodden. All financial scam originated from different Modi’s outbursts during this Govt. tenure. Who is responsible for these scam? Only the poor bank officials for immediate implementation of government order.

  62. The KYC requirement in no doubt is necessary. But the threat of freezing the accounts of old existing customers, that too who happened to be senior citizens, to approach the bank in person, where his account is opened and operated, is atrocious. Thee should have the facility either to update his KYC through online or by presenting the information to the the branch of the same bank, situated close to his home. I am told that such process is not acceptable to the bank. Since the d date is fast approaching, the SBI should provide easy alternative to secure the KYC details from the customers.

  63. The FM’s outburst is saying the truth in the face!

    SBI generally speaking, is a bunch of highly inefficient and ineffective staff. They either pretend to be overworked or in a state of permanent disgust for customer service. Their only saving grace is a picture of the Mahatma which has a tag line: “customer is not an interruption; he is the purpose of it”! And we all know, they don’t mean a damn word of this quote! It takes the person in charge of the lockers 1-full hour to get up and open the locker – that too in the first hour of business. You are lucky if your locker was at least dusted in the last 5-years. Expect 1” dust on the locker door.

    That’s SBI’s performance metric.

  64. I think these banks are never ready to help needy, sincere and honest common man but they may be interested to help corporate like Mallya and many mores, of course, may be after some great personal gains

  65. This is one occasion where I really agree with Nirmalaji. Rules are for humans ,humans are not for rules. They should remember this when implementing CAA,NPR, NRC etc.

  66. FM can’t be further from truth on this issue. KYC is just an excuse noawadays used just to harass hapless customers like tea garden labours. Is SBI in the business of tracing naxals or administering banking service. They need to get the basics right.

  67. This arrogant lady is good for nothing….. No knowledge at all….. But she ‘ll bombard everyone. Even SBI chairman.

  68. Snubbing of Bankers is nothing new. I still remember how Janardhana Poojari insulted Bank Manager, when he started his “Loan Mela”.

  69. More reforms are required for the public sector banks. Due to many government savings and transactions, the SBI has become very busy and the behaviour of its employees has become very rough. That is why people are moving towards private banks for their good service and high rate of interest. But after the the case Yes Bank people will now move towards nationalised banks. Both the RBI and government should restrict and control all the private and PSU banks properly for the safe savings of the money bof people.

  70. I know how this bank works. They have scant respect for poor customers. I am now 76 and 55 years ago when I wanted to pay university exam fee as a teacher candidate., concerned clerk never looked at me busy talking to his colleagues. When I reminded of him his duty looking at my chalian he cursed me that I will not pass this exam. Attitude even today remains the same. I am glad today someone is able to question them

  71. SBI has always been a slave of the ruling government. Their CEOs are spineless and dance to the whims of the finance ministers. NPAs are due to politicians, bureaucrats, crony captialists, et al. Looters. Economic terrorism. This is the norm. Of late, the SBI chairpersons seem to be more spineless. Shame. I agree with Sitaraman’s firing as the CEO deserved it. He has to be proactive in helping tea garden employees who are very poor, after due KYC processes. Why delay?

  72. The PSBs, particularly SBI, do not have human touch with their own customers, who are otherwise their bosses. Never guide the customers properly. No single window solution. It is horrible to see the Senior Citizen customers, who keep huge FDs / PPF money, wait for long time to get their grievances redressed. Even educated customers endure. Can understand the outburst of FM while taking up the cause of the remote less educated / illiterate tea estate workers. They should have been educated and guided properly before taking extreme step of non operationalising their accounts.

  73. FM was right about tea garden workers. She is right to get ‘mad’.
    NIRMALA SITHARAMAN,. Keep doing the good works.

  74. This is called real leadership. Government can not compromise anything which goes against the poor. Just because of kyc, help for poor can not be overlooked. I support finance ministers deed in this regard.

  75. Gud Job by FM sitharaman… SBI was always a heartless bank… I see a lot of people disappointed everyday in SBI… I hear Himanta Biswasarmas voice in background…!

  76. Yes, she is right, they should have reached the poor tea garden workers for kyc and provided them with bakning service insted of simply making it inoperation, it shows their irresponsibility

  77. The FM is correct in her duties keeping the welfare of the whole people of India in general irrespective of states. However, in my opinion, the services of the SBI is going bad to worse day by day.

  78. Modi must take care of this arrogant lady who is not at all suitable to be union minister as she seems to be suffering from serious mental disorder. PM must call for the entire proceedings of bankers meeting with F. M.

  79. While I have nothing against Mr. Rajnish Kumar, the people at the SBI branches level are pathetic. They don’t have any respect for customers. They are over staffed, inefficient and anti-business. There care a damm for customers. I had gone to the Bhandup branch, Mumbau for opening the Sukanya Samriddhi account for my daughters and it was a nightmare.. After two days of form filling and submission, at the last leg they saidI can give only SBI cheque to open the Sukanya account and for that I will have to open an SBI account. The next day I went to the local post office and opened an account in 15 mins..Pathetic SBI staff.

  80. If a clerk can be hauled up for any serious deficiency in his work why not the ultimate boss who is vested with the total control over management, especially if it impacts on the day to day lives of 2.5 lakh wage earning labourers ? Her well calibrated outburst may not impress the minds of misogynists
    but is essential for running a mammoth machinery such as the SBI. If the Chairman fails in his performance and brings the Govt. in to disrepute in parliament, the P.M. will give the same treatment to the F.M. , is a point that many commenters have missed .

  81. My respect. I am not a BJP or sitaraman supporter in general. But the way she takes the bank chief to task. That too for the poor. Kudos to her. I didnt think she would do that. Sbi cheifs wont move their asses till they are taken to task like this. Huge respect. I cant understand why people are getting upset about this. This is the boss speaking to her subordinate . You the sbi chief talks in a mild soft manner to his deputies? Which idiot leaked it? Unbelievable ethics.

  82. The Madame is absolutely right.

    The senior bank officials need to realise and get more sensitised to the great service responsibility of their official functions.

    They need to stop pampering the rich
    bending over backwards while attending to them and frowning at the weak and meek customers with an arrogant highhandedness.

    Well-done Nirmalaji !

  83. Did she speak the same way with Yes bank MD? or PMC Bank MD, both failed banks? Ok, people should be aware that just to garner votes, government servants and public servants are being targetted publically to get a goody goody image in front of people. If KYC is not done, problems shall increase. What she has done to stop imposters doing fraud over phone with common people? Alas people understand the dirty politics. She is not increasing the staff strength, on an average, only 5 people serve the 1000 customers daily in a bank.

    • Public servants who were made to serve except 2 or 3 posts seniors offical others are lazy ask them on own. Income tax officers denied promotion cause they do not want ki ias bankar responsible bana pade.

  84. All efforts could have been taken to make reach KYC commitments at grassroot level by banks.
    They were interested in doing away with buisness.The salary is not linked with performance.

  85. It is regular day to day affairs. No matter to politicise. Dbt is for the benefits of poor tea workers, not to naxals. Need to understand

    • Yes Sir, but rule is rule for everyone. eKYC is govt, RBIs mandate, failing which banks have to pay penalty. do you know that.

  86. Banks should now conduct their business as per fancies of finance minister and not directions of RBI. Poor SBI Chairman could only say sorry…..

    • The KYC scheme itself is a shirking of responsibility by the bank, who ever, RBI SBI or some other. What a foolishness to say that while they can appoint goon agencies to collect their loans granted for what ever inept or diabolical reason cannot appoint an agent to collect and confirm its customers status and data whatever that be, and act where prudence leads to it? It can aswell visit the necessary customer filtered, if that be required after preliminary indicates point to it, and customers need not see the wretched faces of computer faced bank staff and their even worse managers? If bank need information it should collect it. In operation of bank account, devised in Neanderthal times of banking is not the tool for SBI chairman to advise his bankers to weild in this modern era. Zombies receive flat salaries and disturb the customers, without doing what even post offices now do. Nirmala probably tolerate him because of the deep knowledge of the next moron on wait to become the bank chairman!

  87. वास्तव में SBI ने ऐसी नीति बनानी शुरू कर दी है जिससे लगता है कि SBI नहीं चाहता है कि खुदरा छोटे ग्राहक उससे जुडे रहें। ATM अकसर काम नहीं करते, कर्मचारी ग्राहक की सहायता करने को तैयार नहीं ।कई अधिकारी साफ्ट वेयर की पूरी जानकारी नहीं रखते।
    SBI के चेयरमैन IBA के भी चेयरमैन भी हैं
    किन्तु 27 माह गुजरने के बाद भी कर्मचारी व अधिकारियों के वेतन पुनर्निर्माण नहीं करवा सके हैं ।

  88. Who are the blood sucking external and internal auditors of the bank ? They should be named and shamed !!!

  89. I find she is right saying him like that.
    Ultimately everyone should feel responsible for his/ her work.
    If some difficulty was there it could have been sorted out.

    • What is the right thing u found from Finance Minister. She doesnt know about the economy and when journalist pose questions, she has to rely on her secretaries to reply. Banker’s are unfortunately blamed for all ills. Just walk into any of the nationalised Bank, u will see the poor Manager toiling day and night with acute shortage of staff and banker’s are always at the receiving end. The customers are not happy, management’s are not happy, their family members are not happy Government is not happy even after working restlessly without holidays.
      Banker’s ultimately do not know to whom they are working for

  90. KYC norms were excessive in the first place. They work to exclude weaker sections from the formal banking system, and haven’t really added much towards their stated purpose. But so long they are on the rulebook, they have to be complied with.

  91. She herself is quite heartless and the worst of worst finance minister who is imposed on this country. What right she has to say something to a learned person of any stature. Let us ignore this lady like always she has brought our gdp our share market to a pathetic and laughable condition.

    • I agree. The inexperience is glaring….she thinks she is a queen and her desire supercedes all rules and regulations. Head of institutions are being treated as door mats and officers of IAS…IPS cadets as personal servents. Where are we going……..the story of Andheri Nagri………Raja heard in childhood is coming true.

  92. The same DFS , RBI issues so many guidelines for kyc updation and imposes heavy penalities for non implementation apart from blocking the accts, better the FM should talk to RBI and DFS for removal of kyc for all bank accts

  93. It will happen only in India people who do not meet people and do not contest in election and did not win through people’s mandate are becoming finance minister , defense minister and prime minister. And still they are calling india a Democratic country. The illiterate north indians had become fools and believe in whatever was said by literate fools. Congress and BJP Both are more dangerous than CORONA VIRUS. They both will privatise whole india and destroy whole india.

    • What do you mean by illiterate North Indians? can U just explain how do u generalise and make such comments particularly commenting on North Indians

    • Dear, She’s the FM of India, no longer a Defense Minister, So u r calling that PM Modi & his govt wasn’t democratically elected. I mean which weeds do you take.

    • Understand from your cry that you are a comfortable leftist living in isolation from the mainstream of progress of a nation. KYC is a very small basic aspect of a bank to identify a customer as also a citizen of India. Such KYC issues shall be sorted out by a clerk and not more than a low cadre officer. This issue is discussed by a cabinet minister with the number one officer of bank means that the bank staff are working casually and not duty conscious. In which case the minister has no choice but to outburst on the face of Chairman.

  94. SBI never cares for retail customer s , they should change their attitude to say they are the top bank.

    • Govt should not be meddlesome in operations of RBI and SBI.Any concern they have should be discussed with RBI.RBI can then direct SBI.This isnt long channel of communication but the correct one I suppose.Blaming Chairman of SBI is definitely not goin to solve the issue in question, but it would bring up a new problem of decrease in faith of common man in Nationalised banks, where many private banks are failing.Already SBI is taking care of YES bank.
      Had Govt not intervened demonetisation would never had happened.Why Governor Raghuram Rajan resigned?

    • Mr vivek you dont have the working knowledge of banks and that of RBI which are governed by the rules stated by the finance ministry. Hence anything related to financial lapses are from financial ministry. Think before you say something. Just a quick question have anyone from your family purchased a land with white money. That itself answers your stupid question.

  95. The banks work for those people who have loads of money as deposit not for the poor or the working class their attitude towards us is like they’re doing favour towards us.while it’s their job.its good that the chairman got it.

  96. tbis is not the way fm should speak to any chairman of public sector bank. psu bank have proven themselves and executed all govt schemes efficiently. they have contributed in every sector of country. she should b respectful towards bankers.. if she thinks that others are efficient then why don’t she engage them. simply talking in a ruthless way doesn’t work.

  97. This is just a Nautanki . Selective leaks for image building as the dispensation has failed on all fronts other than dividing the country and the countrymen.

  98. Brainless fm with hope less pm. What can expect from our economy. As we Indian master’s of copy like mudra loan copy from other countries. How we will develop?

  99. Our Union finance minister has totally failed to manage our finances in an efficient manner. The out burst shows her ego. She is having brigade of persons with no finance background. Today it has become very difficult to follow rules. Financial services department is equally responsible in this case. To fulfill the requirement of KYC is mandatory. Chairman of SBI should submit his resignation. To ask for sorry on part of Chairman is unwarranted. The tim has come to introspective our selves.

    • You don’t have sisters mother wife or daughters. How you use this type of filth language against a lady.

  100. Finance minister seems to be a rule flouter. How does she expect SBI flout KYC norms

    The Banker is right in adhering to important rule

  101. I couldn’t understand why people are commenting bad about her, she represent us and she spoke in behalf of us – if we are not encouraging politicians who work for common man, then we can never see any changes. She could have went soft and took bribe instead she is trying hard to sort the issues – KUDOS TO THE LADY!

  102. In the first place, a conversation between the FM and the SBI Chief is private and must be kept private. The person responsible for publicising this should be taken to task. He had no business to do it.
    Secondly admonishing a subordinate for an omission is necessary for efficient functioning of the bank or any organization. Let us drop egos and start functioning.

  103. Nirmala Ji needs a psychiatrist for her delirium. She is completely mad as a rabid dog she doesn’t know what she is speaking about.

  104. Excellent Madam. You spoke out from your heart as a commoner who cannot raise his voice. As an FM you can express your unhappiness to the level nearer to your position only who has to further shoulder it to correct the mistakes or clear the problem. Great Madam. Salute you.

  105. She must be removed from the Ministry immediately. Both in Defence and Finanance Ministries her behaviour is unwarranted and she has proved beyond any body’s doubt that she don’t know how to talk with officials. If she continues BJP will loose confidence in officials and educated. Her behaviour made us to recall the behaviour of ex Finance Minister, Mr Janadhan Poojary during loan melas.

  106. I completely with FM. SBI is the Worst Banker I have had. They are inefficient and above all rude to the customers.

  107. A PSU Bank head is hauled for following the rules framed by RBI. Once the KYC rules are relaxed, there could be problem

  108. She is very arrogant and that because she lacks the proper knowledge on her fields.
    This is really frustrating and pushing SBI hard will ultimately cause the common Indian.
    God save my India.

  109. Thanks to FM. Any way she fix it. SBI is most inneffcient banking system in our country. A big govt mecherry. Not customer friendly. 4-5 lairs to get approval for a two wheeler loan. Branch people are looking to top for even small decessions. Even they cannot manage their ATM system. Most are out of order. Even keeping papers for print outs are reducullas and we will get print in wrong side and be useless.
    In between mega mergers. So entire team in wrong practices.

  110. Sitharamans heart beats for …😎
    Has she got permission from public before selling
    Lot of govt sectors ?how can she used to call sbi chief a heartless publically?is she a judge?

  111. This is just a drama. This is NOT leaked its released to the market to show she is a very effective and efficient FM.
    She wanted it leaked..
    Listen to her saying it loud nd clear that its not govt fault nd making we public think she ia so bothered nd worried about tea workers accounts.
    Just drama. Its good for new hindi movie script. Her new position is Drama Queen DQ not FM

  112. Now I can say with confidence that our finance minister is a traitor to Indian people, her stand in favor of private institutions is very suspicious, a conspiracy to destroy the Indian economy and institutions, and she needs to resign right away. I applaud the sbi chief, as he/she cares for thier institution.

  113. If we ignore the tone and pitch of her voice for an instance. She is not asking SBI to ignore the KYC norms. She asking SBI to help the illeterate workers to get their KYC done. It is true that even the most educated and worldly experienced guy get confused with paper work and also get frustrated and finally leave. So, it is even more possible to happen in case of marginal workers.

    So, her intension is to make SBI realise to help the people follow the rules instead of just showing them the rule. Showing rule is important but that is just the first step. Second step is help people follow the rule. Guide them, hand hold them.

    I have seen my elders talking in the same fashions when they are really concerned, however I don’t approve it here but I respect her intension and sincerety in purpose.


  114. Now BJP government is tatgeting our nation’s big bank into falldown, Instead of this things telling SBI chairman, why can’t she tells to YES Bank CEO?

  115. What s wrong in it.. SBI is answerable and its head is supposed to subordinate the minister .. audio leak should be traced and it’s seriously punishable. That too leaking of govt secrets and meetings

  116. The Print, can you published / taking interest / interview the bank customer of the SBI bank ? If you do that then you not published such type of irresponsible artical. F M is doing good job and sham on you.

  117. She is not fully aware Financial issues of Country. KYC is necessary n it is duty of Account Holder to submit genuine proof of his Citizen ship not fixed on Bank.
    Buracracy should not afraid from Political Leaders n they should not be pressed to do which is not possible.

  118. It seems looking like a raping of
    own mother (bank account holders) who is feed the money to survive the banking sector and the same mother’s blood is being succed in the form of penalties for low balance (unethical).
    If this government is ethical and not like congress government, honestly the present government should take initiative to give back all the penalties levied for low balance by SBI…,

    Similarly, the ‘service tax levied on credit card loan interest on EMI’ is also like tax on starvation (poor) people as the rich people are getting interest for their excesses money parked in the same bank….,
    Why only poor people are targeted for revenue collection,

    Honorable Finance Minister should get clarification from the bank sector and these kinds of unethical practice shall be stopped as we believe that this is not a bed bug (chidambaram’s ) ruling.

  119. Hon’ble minister ma’am has rightly taken the top S B I official into task. My respect to her and BJP has gone up. I would request ma’am that the sufferings of common people and the pensioners in particular be eased from the clutches of the said bank. The misbehaving attitude of the staff and officers is really a sorry state of affairs. Specific reference may be cited for the S B I branch( B Block of Connaught place New Delhi) and Branch (Kendriya Vihar-2, Sector-82,Noida-201304,UP).These two branches are totally misbehaving and non cooperating towards cc ustomers). Stern Action is requested.

  120. I am a SBI bank customer, and I face same problem, even when my KYC is up-to-date. My account is on hold mode without giving any information, and bank staff asking for new form fillup . After submitting the form , my account was again active. I have to travel lot for my work. And I have to depend on my ATM card for payments. Due to the banks this type of work, as a customer I have face a lots of problems. I think the FM do the good job. Bankers do there job as per law, but also must look the custome’s interest.

    • As per guidelines every 10 years kyc should be taken for low risk customers 8 years for medium risk 2 years for high risk. If customer feels this is not good all should approach rbi rather than blaming individual bank. Every year Rbi imposes penalty in crores for non compliance

  121. Assam tea garden workers are poor wage earners…. They are there for generations. They do not deserve harsh treatment from SBI. HUMANITY IS FOREMOST. It is nothing but Ill-treatment of working class. I agree with FM’s outburst to SBI higher ups.

    • Ye FM, pagla gayi hai, isko ye bhi nahi pata, ki KYC related guidelines, RBI and Govt issue karti hai, first RBI says to comply the KYC guidelines otherwise they will put penalty to bank if bank compiles the RBI, this kind of fool FM will scold….. Puri system hi bandaro k hath me hai……. Nach na jane agan teda….

  122. My mom is a pensioer of SBI like millions of other Indians. We must understand the pressure on the staff of SBI, since all govt schemes are routed through this great organization. My mom never told me it is a heartless organization. Our selected FM is temporary. Ignore her.

  123. This media channel is fully dedicated and whole hearted to blame the BJP Govt either good, bad or ugly. It’s only intention is to blame BJP govt.

    If you don’t belive just go through their all contents of news.

    Now question is how come inefficient people can do miracle in overnight as they believe inefficient or ineffective people are always rewarded historically.

    Changes are inevitable, People should understand and act it.

    My only commendable word is Kudos to Nirmala Sitharaman. There is nothing wrong at all.
    Someone has to take action.

  124. My dear Bankers, please don’t listen to the Politicians, violating the laid down Rules and Regulations. Nobody will come to you for rescue. In fact it is the bankers who are giving service to people. Politicians may come and go.

  125. The largest bank is lacking in providing better service to the poor in the Society. The Finance Minister has rightly pointed out that.

  126. First, she is not cultured for having spoken like this against a Chairman of a leading Nationalized Bank in an open meeting. What does these politicians think about Nationalized Banks? They have to shoulder all the burden of all the NPAs created by the govt in the name of govt schemes. Whether the private banks do these? And the Nationalized Banks have to carry on the losses of Private Banks like Yes Bank. First of all few of the Cabinet Ministers do not have a fair idea on the economy and on the functioning of the Nationalized Banks anf how much they are overloaded and stressed.

  127. Dear All, I think the leadership flows from top and people only shout when they have no solution to offer. The solution only comes with knowledge. If we have such illetrate and inept finance minister in our country then no wonder this is going to happen because she has no solution to problems so the best she can do is shout at her subordinates. It’s high time that highly knowledgeable and resolution oriented people are brought into such ministries so that the derailed economy comes on track. The finance ministry and RBI have become a joke in the country.

  128. Madam…Pl take back your words on comments made against SBI chief. Being FM you supposed to understand and as you are aware our PSBs are strong and fast moving to implement the govt schemes

  129. She is right, these political backed beurocracts needs to be taken for task. These useless officer bents are rule when it comes to VIPs but when it comes to common citizens they will implement all rules. They are accountable to government and paid for getting work done.

  130. KYC compliance is a real headache for the bank customer, on the National consumer day today
    let me have the privilege of of pointing out that SBI unilaterally makes accounts inoperative citing
    some RBI regulations.This hinders normal financial planning of the consumer and KYC rule is the
    RBI’s brainchild.The Finance Minister is right in pulling up the Banker, when she feels that their rule bound bank management is likely to derail well meant govt.benefit schemes.

  131. I completely agree with comment of MS above that SBI works in very high handed nay sadistic way and it is very difficult to get any thing done. My pension account was earlier with State Bank of Hyderabad for more than 20 years and I never had any problems and found them extremely efficient and courteous.The successive managers were always accessible. After its conversion as SBI there is no end to my problems.The managers are extremely inaccessible and rude.
    I never had any high opinion about our FM, Mdm Sitaraman, but now she has gone high up in my esteem. Thank you Mdm you spoken on behalf of all of us,the common, voice less account holders.
    The Print should investigate and expose the mischief maker who illegally recorded and leaked it instead of presenting him/her as a hero/heroine

  132. We should know as a human being with normal intellect that the more bigger one is more inefficient and arrogant one is . SBI is unable to handle its large clientele . There is no customer centric approach . They are just a monopolistic attitude . The things have gone worse with amalgamation of other state banks . There is another example of IOC , which is worst among all oil marketing companies . Smaller companies like BP and HP are much better because one is able to control the functioning . Do not forget Air India and Indian Airlines . These were better off working independently . Pl rethink on making bigger and inefficient companies . Let these be smaller and more efficient .
    Thanks .
    Colonel Raghu Vir Gauba

  133. 101% Nirmalaji is right in doing so !!& more so to justify her duties towards the mandate as an able finance minister. For information to those corrupt journalists that she is not only well qualified , learned in economics from premier institutions also a honest & a brilliant finance minister taking up the challenges when going is so tough..
    Babus inSBI even today are far from being professional. Such whippings are therefore necessary at the top level to reach out the administrative & cultural lapses upto frontliners dealing the mass.
    And for God’s sake don’t repeat the history to enslave the generations following…

  134. This finance minister is looting public money. When petrol prices came down globally the prices should also have decreased for India too but she increased the cess and taxes by Rs3/-.Now when these banks will collect these cess she will say banks are heartless. Kyc compliance is a strict measure as per guideline of government when banks will follow them she will say banks are heartless. This type of finance ministers force banks to give loans to loss making corporate bodies and when the loans become NPA she will say banks are heartless.

  135. Since there is large no. Sbi should have send their representative to all workers and get it done.
    There seems carelessness, may be due to law income group is involved.
    What minister says is correct. There will not be development without developing the poor

    Jai Hindusthan

  136. Even though having accounts with the same SBI Branch for more than a decade and having submitted Adhaar & PAN, I had to run around the Bank for 3 days to get the “Stop” lifted on our SB accounts. I am fed up with the pathetic customer service at SBI. No wonder FM is upset. I would like to thank her wholeheartedly.

  137. As a retired officer of State Bank, I fully agree with FM. SBI is worse. than government departments in treating its customers. It is traditionally like this and very difficult to change this attitude.

  138. I don’t eat onion don’t ask me about onion prices…… I don’t have account in yes bank don’t ask me about yes bank.

  139. SBI md is a clown. Wonder how these jokers end up heading such important roles. He was last heard praying to the Gods to reduce NPAs

  140. Restrictions to all the banks about withdrawal of money in an instant should be equal so safeguard small imvestors and Govt. body should be more vigil

  141. Let one officer over rule the KYC regulation, he will be suspended for corruption not adhering to the RBI strictest rule.
    One side you have regulation to follow and other side political pressure like a FM firing a SBI Chairman in public is not an accepted conduct for a matured FM.
    This shows her arrogance and ignorance of the the rules.
    My account was blocked by a reputed private bank but I never lost my cool. It is my fault not to adher to the rule in time.

  142. dedicated, bold is all i can say for nirmala sitaraman. grand salute to the lady. It’s true that SBI is a heartless and arrogent bank.

  143. Public wants the truth from media as because huge money were drawn from PSB in one or two instant without any hindrance or restrctions putting into financial trouble to small investors but making just drama at higer level and ends the fume ultimately just changing the position of head of controller is not the solution. One man change the scenario and next will sing the past performance can not change economic situation. So policy should be people empowering I. e. giving opportunity to qualified new generation to perform under strict vigil and imperting them proper training to be fit

  144. It is exactly true for example i am existing customer of abi more than 20 years,but unfortunately I’m not able to get cheque book for the last six months. One of the very useless bank in our country really they are heartless.

  145. Madam Sitaraman seems look like an army commander ………..public representatives should be little friendly……

  146. It shows her frustration. Pl. give respect to the bank chairman. Change the RBI governor on priority.

  147. Direct Benefit Transfer is a part of government initiative to pass on financial benefits without any bug in between. This rule is applicable for Mass or Zero-Mass categories of customers under Financial Inclusion Scheme at the instance of RBI. RBI has already given instructions to all public sector banks to apply Simplified KYC norms that empower customers to self-certification in a prescribed form for the purpose of opening of accounts. Now what makes the reason for non-compliance? Is it system related problem failing to mapping huge number of accounts or delay in manual intervention required the task to complete formalities of Simplified KYC? It’s assumed there have been some lapses in due diligence of issuance of government order and its execution pertaining to local level of government and Bank. It needs to be examined from that level first with deep insights without any hearsay from any political quarter. Govt must take care of welfare activities of people in general but also create due operating platform to function properly. Undue pressure in finance related matter often matters to cause distress in overall functioning of all stakeholders. Incidentally, the rescue operation of Yes Bank by some Banks as SBI being a leader sounds economically not viable enough due to legal cases that are already in hand under CBI & ED against the CEO of Yes Bank and his family,making possibilities of attachment of alleged properties acquired under dubious end use of public fund. Does government examine it in true spirit or it become a compelling ground to accept government proposal by Banks under duress?

  148. One thing is true that the public sector banks are insensitive towards the common Indian, when it comes granting loans to common people they ask hundred and one documents and when it comes granting loan to elite people they just forget the clauses,
    In this case if SBI was facing any technical problem to keep the workers bank account active, in the first place they would have brought the matter to the notice of the finance minister, A minister from Assam government complains to central finance minister means the SBI officials have become insensitive towards the account holders ,
    so she has all the rights to question the SBI officials,
    what is wrong in it,

  149. SBI staff is not cooperating like private banks. We withdrew our accounts because of that reason. Hope strictness with the head percolates downwards to other staffs as well. Thank you, Finance Minister.

  150. It shows how low can the *The Print* go in maligning its opponents, I’m purposely using word opponents. A one to one closed meeting conversation is publicised to spread negativity. Shame on you, if it was corruption or unparlimentary words used, you should report. Journalism should stop in India, it should be only reporting, you guys have no moral values to give opinion about others. Shame on you.

  151. Good show by FM
    SBI Chief held responsible for the poor people as they didn’t get SUBSIDY from last one year.

    Thankyou FM

  152. We have to apply mind to take business decisions but not heart.

    If not another UTI or YES will emerge.

  153. She is always authoritarian and rubbish all the time. Who does she think she is

    She doesn’t ever know the verse called collaboration and clearing the impediments, rather always go around ordering at people

    If she was in corporate, right she will be on the streets.

    She doesn’t have any authority but rather responsibility over the official, I saw some one saying that she does have authority, no that is not there and even let me say she is not even an elected member to the Parliament.

    And chocking all systems has been what these people has been doing. Yes bank is down in rubbish for 4 years and what was she doing to bring it up.

    I efficient biggotary in all things what she has ever been involved in.

  154. Not only SBI, all public sector Banks are not user friendly Banks. I wanted to deposit my retirement benefits in one of the public sector Banks, but these Banks don’t have a simple courtesy to welcome the senior citizens. If I go to private sector Banks, my money may evaporate like petrol anytime. Fate of Indians.

  155. What she did is commendable, public sector banks are for common good, all she said that the issue should have been raised with her ministry and they would have sought an answer with RBI. Moreover 2.5 lakh poor people are denied government assistance, SBI would have bent backwards if some rich people were involved. I think the minister is doing her job.

  156. SBI acts like a government department in nay ways an it is due to the set up and administrative monopoly given it by govt.It should be privatized ad target s to be fixed for performance like any other private banks

  157. The staff of Sbi is ruthless the think that Govt deposits will keep on pouring from govt departments and will not bothered for common people.
    The deserve the same treatment and much more in future
    The should be kicked of on there’s Asssssssssssssssssss

  158. Totally in correct, she has no house in secundrabad cantonment. Her house is in Sun City , Mehdipatnam, it has nothing to do with any cantonment.

  159. DBT is a political agenda. No doubt it is a good idea but pushing it through by hook or crook is an unhealthy practice. Instead of pressurising Bank chiefs, make the local Government machinery hasten the process of getting the KYC requirement met to ensure the political agenda’s smooth implementation. It is not out of place to advise the FM not to lash her tongue at all and sundry like she has been doing as it may boomerang on her some day.

  160. SBI in reality is not a good option for low income/depositors. I have faced SMS/maintenance charge. SMS alert charge was also unreasonably very high. So, I always keep at the lowest balance possible no longer wanting to keep my money there. I now use some other bank to keep the little money I have.

  161. That is certainly true madam FM. These days the Banking System of India has gone heartless. I am undergoing harassment by HDFC Bank for a Fraud they committed.

  162. Now a days banks are out of control and they are not responding publics properly in banks there staff’s think that they coming from heaven.
    Every alternative months they are go on strikes some othe the reason and they least bother about there accounts holders earlier they strikes one day now a days 2 days strike.
    Bankers are not passing govt schemes properly and they ask thousands questions to give loans.
    Madam some time you may become harsh other wise they will not work.

  163. SBI branch everywhere thinks it is above everyone. Whatever it does to harass a customer it considers it is it’s right. No one can question its working or behaviour . Not the govt even.

  164. It is a matter of national debate as the issue relates to Assam where scores of illegal migrants from neighbouring countries are present .It is surprising that on the one hand Govt is asking people for documents to prove their nationality,where as on the other hand the non compliance of KYC norms in banks in absence of any document for conducting bank accounts SBI Chairman has been made scapegote of Govt’s own incompetency .It is the responsibility of Govt to provide relavent documents only after identifying the bonafides of beneficielaries of Govt schemes.

  165. Which ever ministry you give to this lady. It will be in problem. She is stupid and most headweight person, sack her from this post. Don’t give any minister posting to her if you want to develop india. She is a curse to india’s development.

  166. Our FMs never call explanations from Harshad Mehta or Telgi or Malaya or Nirav or Choksi or Rana kapoor or kochar for their misdeed but pressurise the other reliable bankers to take over their misdeed to cover up its failure.

  167. As if the FM is super efficient in managing country’s economy. The state of economy is well known to everyone. Then why the Yes Bank, PMC banks crisis. Why this heartless bank was asked to bailout the efficient Yes Bank. If that be the case why SBI is not privatised, it will prove to be much more efficient once comes out of govt shackles, see its all other subsidiaries like SBI Cards, SBI Mutual Funds etc, which are as good or bad as other private players.
    Moreover, the Govt itself is taking steps to identify Bangladesis in NE and making stringent rules, but wants Banks to open accounts without documentary proofs. Height of hypocrisy. All said and done, one should show respect to earn respect which is missing. The same kind of arrogance of ministers of UPA-2 costed its government. Wish them good luck ..

  168. At last there is a person who speaks for poor people. Not in words but in actions. If poor people stomach is filled india will be the most richest and honest country in the world. This clearly explains how wealthy people like sbi are insensitive about poor people. Hats off to finance minister.

  169. Salutations to Hon’ble Finance Minister Madam who is so ERUDITE & worthy of emulation.
    I BOW @ her excellence in action in speech in conduct.
    Humble Regards
    Mukul Sahu Jain

  170. With due respect to finance minister, I would like to enquire if the tea workers know that they have to fill KYC form, secondly do the workers know how to read and write , thirdly did the workers get any training on banking and its operations. Lastly I have seen practically women struggling with card in hand for reactivation for not using. Government blows the trumpet that it has crores of accounts opened for digital transactions. Here people cannot operate their account. How can people in remote hilly region maintain them.

  171. I agree with her frustration 100%. there is no accountability with the banks’ attitude towards common man. Don’t be defensive saying all the red tape things loke KYC and all BS. Private and public bank corruption havehave nothing to do with this particular irresponsible and indifferent behavior. You can’t say what is wrong with me looting because someone else is looting too; justice doesn’t work like that. Need to rein in these inefficient and useless bank CMDs. The accountability should start at top then good things will trickle down at some point. Kudos Mrs. Seetharaman

  172. Kyc — know your customer– please mr wire editor what does it deliver. Harrasment and highhandedness. A tool to twist the consumer. Excuse international requirement

  173. Misbehave is what this government can do to public servants, profits to private & losses to public sector is something what that helps this autocratic government to buy MLAs, manipulate mandate through EVM
    Minimum Government Maximum Capitalism

  174. A GREAT FM who changed all her budget proposals within a month cannot criticise SBI chairman as heartless bank.if bankers are heartful they will be harassed by 4 Cs for collusion with the customers.Bankers are sandwiched between DEVIL and the deep sea.She could not finalise the salary revision of bank employees even after lapse of 29 months.she wants everythi g in time but she will not do her obligation to employees in time.
    What a DOUBLE Standard.Instead of wasting time in HARASSING BANK CMDS she should focus her time in thinking new ideas for 5 trillion economy.Bankers know what to do .only FM and other politicians should interest in their functioning

  175. The Hon’ble Un ion Finance Minister correctly commented. It is the comment of most of the customers of S B I while dealing with staff as well as Officers. Of course they don’t care for the comments. Their way is their way.

  176. Banks efficiency has reached it’s low as the work culture is like work to rule and not work to employees satisfaction. Sincerely to sourse of bread and butter is missing
    Kyc is the responsibility of banker and not the account holders. Deficiency in it should be completed with direct contact by field staff as is done in selling investment schemes

  177. She is right, because when common people approach to nationalised banks, they make fool common Indian about government policy and warfare measures. These are happening in every branch. Higher official turn their eyes blind.

  178. Irony of the situation is that this govt demands docs to prove ur nationality but when a bank asks for docs it becomes heartless. N IT cell trolls are here to defend the double faced govt.

  179. Banks really are heartless and behaving like a robot or a computer. Computer commands automatically trigger unwarranted actions putting genuine customers to hardships. What is the big deal if the existing customers that too poor tea garden workers fail to REPEAT KYC process? It happened because there was no human contact. Please stop behaving like computer slaves. FM IS RIGHT.

  180. Irony of the situation is that this govt demands docs to prove ur nationality but when a bank asks for docs it becomes heartless. N IT cell trolls are here to defend the double faced govt.

  181. What she said is absolutely correct..if bank has closed 2.5 lakhs accounts showing RBI’s deadline tag.its irresponsible on bank part..becoz as an sbi employee I know whats going in SBI …Branch managers misses multiple deadlines given by RBI at branch level to update KYC coz BM’s are always after SBI life insurance in day out they have become like insurance agents now rather than maintaining branch…they don’t heed to the RBI circulars anymore …they don’t devise a plan on how to have achieved the task which is the foremost job of a branch level manager…even the controllers are happy to watch this happen coz they get hefty cuts on life insurance commission and they always pressurize on doing insurance…..and this happens daily and sbi chairman gets the last cut in this ..that’s a huge check.,.so they are basically busy as insurance agents and they when they are to miss the final dead line they just starts closing the accounts without even informing the account holders so that the KYC targets met….this is shit sbi life insurance is driving people crazy in sbi..

  182. Good Job, Nirmala Ji. These irresponsible boomers should be kicked for inefficient working style.

  183. Hats off to our Finance minister. Thank you so much Mam. We are maintaining account for the past 25 years with their bank, PPF savings, ongoing home loan and got in to the same KYC issue. After moving in to our new home, we wanted to change our address and the hard headed staffs gave us a hard time in address change despite my health disabilities. Despite depositing the EMI they did not process it for two months. Only after shouting at the concerned staff did she pick up our file and released our funds towards home loan EMI. “Heartless” is the right word. Well said Mam.

  184. Hi,

    The Finance Minister of India behaved in very unprofessional and unethical way.
    She is unaware that the KYC documents such as Aadhaar card, Voter ID card, etc are not created
    by any individual or State Bank of India or its Chairman. These documents are provided by the
    respective government of states and central govt. It is well known that Central gvot and Assam
    both are ruled by BJP. If tea workers are not compiled with the required KYC documents, its a failure
    of Govt and not SBI.

    SBI is adhered to the norms by RBI and it is for the sake of for our national security and are well appreciated.

    I request our Prime Minister to make arrangements to provide necessary documents to the needy and good governance
    and ministers rather than passing the buck.

    Thank You

  185. If SBI was heartless then it would not have adopted YES bank that was forcibly put on its lap by the Government and Finance Minidtry. Why no action on auditors, rating agencies, government agencies responsible for monitoring banking sector ……. To let it all pass and give public impression that Govt has rectified the situation, same heartless bank is asked to do the rescue act to a mismanaged bank on cost of public money. It is nothing but privatisation of profits and socialisation of losses

  186. Filling up KYC forms is not rocket science. What’s the matter? The respective bank having those accounts got to do that. In general these banks function near about the estates. Are these bogus accounts? That may be a possibility?

  187. The minister is wrong. She should not have talked to SBI chairman in this manner. KYC norms are mandatory and banks have to follow it. If the tea garden workers cannot produce appropriate documentation to establish KYC it is for the government to step in and after due verification, help them to comply with norms. It is not for the banks to relax such critical norms. Somebody has to educate the lady. RBI has to apply their mind and tell the minister where she gets off. Banks are already suffering because of the policy guidelines issued by RBI over thd past decades have created NPAs. While policymakers at RBI and government get away scot-free, it is the bankers who face the music and are called inefficient. The bankers gets flak from all sides for what is essentially a policy mistake by RBI and government.

  188. Recording audio in an official meeting. Craze for excessive info makes functioning difficult.
    Press freedom crossing limits.
    Same press comments on inefficient govt dept working.
    Without a check mechanism how to make the
    functioning effective?
    Allow the depts functioning freely. Don’t interfere too much.

  189. Not one, we need many such Nirmalas. SBI is a corporate and not babudom. They need to be handled corporate way. Hats off Madam !!

  190. Height of arrogance. He should have resigned there from!!!. Instead he may put the same words down the line.

  191. KYC guidelines are important for financial transactions. It is not a matter of kindness or heartless. The poor Branch Manager will be handled like anything if some thing went wrong and amounts were paid to wrong beneficiaries. Chairman cannot advise the Branch officials to ignore the KYC guidelines. On one side Govt is unable to decide who is an intruder and who is the rightful citizen in Assam, how can a small Branch Manager identify the rightful beneficiaries without proper document. Can RBI or Central Govt give verbal instructions to the bank to overlook the KYC rules in respect of DBT transactions so that the Branch officials are not criticized latter.

  192. The finance minister is giving instructions on KYC of Tea workers in Assam. Why she is silent on updation of Pention of bank Retirees and family Pension. Every party is after the Vote bank. Bank Retirees are also human beings. She is from J.N.U so she has become vocal on S.B.I.CHAIRMAN .AND FIT for finance minister ship.

  193. The reality being these tea garden workers are paid below the minimum daily wages, which any government is least bothered to resolve. They want to use it as a strategy for vote bank. Open acconts for them, and dole out money before the elections and as from what i have herd its 6k per account. And in fact most of these workers are daily wage earners so get cash as payment.

  194. The intention behind leaking of this audio clip, even assuming that it is genuine, is clearly to embarrass the government. For all those who are cheering on, it can happen to anyone of them and their language may be worse than that of Smt Sitaraman. If their interaction is leaked, I wonder how they would react then.

  195. My salute to Lady FM. for doing her job as people’s representative. Unfortunately our corrupt media is desribing her as a villion instead of a upright leader . You need guts to take such rightful action.

  196. There’s no way a clip like this can be leaked to the public.
    In this situation when The government hiked the excise duty on petrol prices and not given the benefit of lower crude oil prices to the consumers, the government knows that public will be angry.

    Just to paint a good picture of the useless FM, this is a planned scheme so that the public thinks of this honourable lady (who hasn’t shown any sign of honour till date) as a hero. Just look at the timing of this leak. It’s too good to be a coincidence.

    It’s just a scam to dupe the gullible public. (Bewakuf public ko aur bewakuf banane ka plan hai, aur kuchh nahi).

  197. I think responsibility must be fixed either he is top brass or a clerk. We face difficulty in regular in SBI bank as staff does not perform his duty well.


  199. If SBI is unable to run these accounts, just give to the most efficient banks i.e. private banks like HDFC to run these accounts. The finance minister seems to prove that the nationalised banks are not good. She left no stone unturned to give benefit to private banks. She has her unique agenda and she has no concern or knowledge about economic conditions of India. She is the worst minister of the union cabinet and should be sacked immediately. Bring Piyush Goysl as finance minister.


  201. Such a great lady.Leadership should be like that to implement the welfare scheme at grassroot level.Through this channel I would like to bring the attention of government towards the attrocities and indifferences of banks towards the study loans of poor students.Specially private banks most of time refuses to lend loans to poor bright students due to which their whole career ruin.

  202. as a public representative she is well within her rights to question any public servant.she is just expressing the views of the masses at large.nothing to disagree with her.

  203. I respect our FM

    1.Banks should not compromise in obtaining KYC documents

    2. Since the tea workers mostly are illiterates ,poor extra efforts should be taken to educate them about importance of KYC and also to get their KYC documents and to update their KYC documents wherever necessary

    3. Definitely SBI needs heart touching service
    Service to it’s customers

    These 3 points needs to be balanced

  204. It is regreted to note that our Finance Minister used harrassing words to SBI CMD . She is Boss it doesn’t mean she will insult head of the SBI. She might have told simply. But there is Nasha of the office.
    See, our PM he does not use such words.

  205. At one side for kyc form the government want full compliance and detail douments at other side if bank insists on all documents it’s chairman’s called heartless.Govt has to realise and decide the Real Ground situation and come out once for all what is required and what is not.One time simple Directive should be published to avoid confusion.

  206. SBI is the worst bank of the country. They employ maid servants and uneducated security staff to man their officers desk who behave rudely to educated customers. My less educated driver is very efficient in dealing with such staff. SBI is top in misplacing important documents especially those which are placed in their custody for obtaining loan. It is my personal experience.

  207. Those who have to lead the life of a tea garden worker has a lot of hardship in life to bear upon. They were lured centuries ago from various fringes of our country to work as garden worker. There are so many folk songs how they were forced to work in the garden and punishment dished out by planter Babu’s in the bygone days. Tea garden is the last foot print of colonial era. Where the workers leave in small huts and the managers own bunglow.
    Workers have nothing else to do except for plucking the tea leaves at a meagre wage. Upon their wrenched lives the tea garden managers thrust the uncertainty of bonus payment with trickery of profit and loss statements. Workers spend their life therefore bu plucking tea leaves in monsoon, scorching heat of summer, and after the day’s work, they go on drinking binge. After that, in the night a leopard or an elephant or a snake, may attack them. There are diseases rampant, as the living quarters are dingy, moist, and unhealthy. The dispensary run by the management is a delapidated room with no doctor, nurse or medicine( 80% gardens hospital are like that only). Garden workers have accepted their faith and they do not complain. What angers them is when the management denies them bonus, without which they cannot have anything during the Pujas. This is the backdrop which we are talking about. Now obviously the banks cannot get KYC documents from tea garden workers. Most aged workers LTI could not be detected by banks machines, as the lines of thumb are distorted and gone. Now the Government of India wants to get the garden workers don the suit of banking services coverage, which is most welcome. But before that they need to be washed, fed, treated, housed, paid decently. A comprehensive policy change is direly needed. In future, after this generation of workers are gone, the cup of tea may become a thing of past. Today when the economy is in the doldrums, the FM could take the steps necessary. Lambasting banks is no good.

  208. Reminded of a BBC serial “YES MINISTER”! Asking questions is very easy. As for KYC it is the BJP government which insisted on this. If SBI had flouted these norms then also SBI officials would be in the dock. But I am surprised and shocked that an official in the rank of a chairman is so thick skinned. He should have at least tried to put across the reality to situation. He is quite willing to suffer personality damage. He should have resigned.

  209. Since we the readers do not have sufficient information about this issue it is quite difficult to comment. Prima facie, to issue KYC to these people in Assam it requires Government machinery also to co-operate and ensure that this is done before taking anybody to task for non completion. I am of the opinion FM should have restrained herself to comment publicly and taken up this issue through her Ministry Officials. Whatever the urgency, it is inappropriate to take the Chairman of a Bank to task in public if it is true.

  210. Whoever be politician, minister and between whosoever these ‘official’ conversations takes place, to leak these matters into public domain not only idiotic and irresponsible but makes the functioning of system impossible; as there will be many outbursts out of frustrations among participants or by elected reps. If this becomes norms God only save this country because it pertains ethics, allegiance to duty. In the age of smart phones it is easy to do but should we do is not a question to be answered by law alone but by ethics, work culture and morality. Because, a prejudiced and premeditated act of a ifioticperson can caught and project even honest person in a wrong impression. The idiot who leaked must be punished as there is no guarantee state secrets
    are safe in the hands of such people. Time to frame and update rules regarding use of personal smart phones in meetings

  211. KYC seems to have become an excuse to harass the common man. Many banks are still insisting on Aadhar as a mandatory KYC despite the Supreme Court judgement clearly making it optional for opening bank accounts.

  212. Dear FM, who has made kyc norms, who take out circulars mentioning this regarding validity of IDs. RBI not sbi. If sbi relaxes kyc RBI penalises it and the staff who did it. How come it is SBI fault. Rule tum banao, follow tum karao air badnaam bank ho.
    But again u are as clueless as ever and economy is suffering

  213. Dear Nirmala Sitharam,

    Go ahead. We’re (common man) with you.

    Thank you.

    Thanks to. “The Print”. Keep us posted… which ever the way you like. We can understand your pain.

  214. I respect our FM

    1. KYC is important document no compromise in this by the bankers
    Since the tea workers mostly are labour , illiterates mostly and are poor extra efforts needs to be taken to educate them and to update their KYC to get direct benefit schemes

    2.definitely SBI needs heart touching service to the customers

    These two points needs to be balanced

    • Why not state govt ask his machinery to issue an id card and address proof to all those tea garden workers within a week and ask them to submit all these document to the bank .instead of talking nonsense publicly.

  215. In 2014 banks were advised to open accounts without adhering to KYC norms , now it’s more than 5 years banks were failed to regularise these accounts by collecting the required info from their customers who’s failure is this ?

  216. As kyc is needed and so on bank a/c should not be inoperative for this so that poor people deprived dbt. It is required on priority & bank should be more vigilant to dake poor people right.

  217. She may be harsh on the highest ranking officer of the largest bank of the land which is really unfortunate, but the fact that SBI is heartless is well known and is being realised by its crores and crores of its customers everyday

  218. Yep No heart & mind thankless people
    implementing Note banning of Govt while Pvt Banks were doing profitable business. Opening Crores of accounts under PMJDY with zero balance for common man
    For 1 Re commission implementing PMSBY whose single page form alone costs Rs 10
    Bailing out failed Pvt Sector Banks by standing with all those Pvt Bank loving people whose monies got stuck on failure of their loved bank.
    Giving loans under Mudra scheme without any guarantee of Return.
    Giving loans to infrastructure Sector while Pvt Banks deal mostly with Secure profitable retail lending only.

  219. FM deserve a praise for taking SBI to task. Their highheaded ness is well known to everyone. Least user friendly bank in India.

  220. A Common man has to be Known. Special people need not be Known. They show their face and walk away with money. Like in ZeroBalance account initiated by this government and then more than 12000 crores looted by these very banks due to MINIMUM BALANCE; it’s always the poor man at recieving end. But why loose cool?

  221. I admire the lady for her concern for really small issues which are in reality very important issues for the poor in the country.

  222. KYC is a policy matter. It is the responsibility of Ministry of Finance to resolve the matter with RBI. SBI Chief is not BJP pracharak.

  223. Her talk doesn’t befit that of a woman.
    A rule is there to follow. if violated
    she will not come to the rescue of all concerned. Bad temperament.
    SBI Chairman need to relinquish his office.

  224. It is really difficult task to get things done at SBI.
    We need to spend day’s.
    Total lethargic people and cumbersome procedures.

  225. For all the goodness thereof, governance is confidential. Selective leaks carry untold stories as well. I perceived these:-
    1. The govt chides SBI chief n allows an audio leak. Intention possibly to boost citizen confidence in the GOI and economic initiatives.
    2. That the poorer segments are being looked after. It was just a few weeks ago that SBI kept threatening all afresh to do kyc for the nth time as per GOI directions. Confusing oscillations .
    3. In large matters, the grey is huge, interest in an issue which needs addressing, rules the action. So the tea workers needed relief.
    Thereforr GOI needs to be more deliberate in policy to avoid knee jerk out bursts n disjointed actions and more importantly the banks need to empathize, be responsive, responsible, seek clarifications specific to strata and do their assigned task faithfully.

    Leaking audio tapes selectively maybe political expediency but best avoidable.

  226. Highly arrogant and novice and fail to deal with economic crisis. No job no economy or saheb chale h dusro ko dosh dene.

  227. It is highly imprudent on the part of the guy who leaked such sensitive matter to a worthless last grade media which gloat over being critical of any one in Modi government. Boycott and discard such yellow journalism

  228. All are jokers firstly any effort to dig down blunders in SBI ? Highest cases against this bank for fraud and many other govt banks no action courts are taking time employees enjoying customers suffering .
    Can any one except this regime think only interest rates is reason for slow down ? What actions done on fraud employees of bank and had they identified? How many years cases will go on? What wonderful treatment this bank gives to its customers ? All is big question and always they take toll of customers money for all their enefficiency.
    But only targeted banks are cooperative and private only . What action and how many are behind bars in demonitisation from this banks ? Every thing people should know blunder employees are enjoying ? Only private sector is on target people are under pressure who work in private sector. The current system is by govt benifisuries for govt benifisuries no space for private sector still they have given or kept right to vote is big thing .
    extortion is only rule of the system. Let god give governance and decepline, and little broad vision for private sector above 2-3 industrialiest s there is huge population not working in govt which is suffering due to unwanted road works which children also ask questions why this road is reworked when it is to good.
    Actually this system is beyond repair no change in FM on banks and govt employees understanding they are not able to correct and will not be corrected. Else repitative torchaer to public and gifts to govt benifisuries of salary and pensioners only done by this regime in past 5 years every day worst for private sector except few groups . Let god give inner strength,Devine power instinct to survive and blessings to all sufferers of this country. These days will also pass . Due to economic stress working culture has changed making lives difficult. For such people interest rate reduction is punishment but govt system will not understand and not want to understand Also. It looks like this regime actually have no knowledge of economy and only they always say about tactical decision making which only govt understand. We don’t want to understand big things and the vision for future of millions of years, we just want to live without
    additional created difficulties that’s all.

  229. It hurt me , the first time I heard about the word KYC, i.e. ” know your customer” from my bank branch.

    The true ownership of this word is supposed to be with the bank when RBI told banks to do KYC. However,
    All the banks converted the meaning of KYC towards the customer as ” Identify yourself , else you are a terrorist”.
    The banks should have visited each customer , at their residence and should have collected the real ” KYC”. Unfortunately, Today , bank babus are not prepared to understand the process. They are still are NOT out of their safety shell.
    God knows , when they will come out.
    Good that the FM blasted the ” Babus”. They should sometime come out of their shell.

  230. Perfect way of handling govt officials when common ppl suffer because of agencies lack luster behavior. We all clapped and enjoyed when Kiran bedi , Yogi, chandrababu baby Naidu warned road workers and others in past. We all liked it, they why anyone should worry about FM’s angry reaction over SBI ? has s she shouted for elights ? She is trying to make system work to common ppl. Why print didn’t write about the ATM issue she spoke about ? She was absolutely correct, we voted for her, she is working for us. The Print’s projection of this event is malicious. The Print is known for such malicious articles.

  231. The Finance Minister’s comment on the working of SBI is highly adorable and a welcome expression of the state of affairs prevailing in.

  232. At least she has open her eyes. Discrimination is the order of the day. Why there should be parent and non-home branch ?
    A customer is a customer to a branch all over India and wherever SBI operates internationally.
    In all the non-home branches customers are ill-treated. They will be insisted to too many identities to prove that they are real customers of SBI.

  233. Come on… the Print comes up with a article and audio clip when the current government is likely to pay a political price for the mess it created.

  234. Is not finance ministry party to KYC norms when introduction by RBI, People will not forget that KYC was justified then during Modi 1.0 to curb black money deposits in Jan dhan accounts. After 4 yrs the finance minister is now batting for public’s inconvenience which it never thought before or can I call it vote bank appeasement.

  235. Dear all, put yourself in the shoes of the poor tea garden workers instead of the cosy comforts at your place. Now make a comment either way. Most probably it would be apt. A thief pick pocketing and taking away Rs 100/- and your child taking Rs 200/- the treatment meted out to the two is not same. I hope you ponder on this.

  236. What was the govt of Assam doing? It should have coordinated with the centre and SBI in reviewing the kyc norms this find out a solution. The laxity resulted the total disorder.

  237. If the audio clipping is true , God help this country ! SBI shareholders should know how their bank is being micro managed by the respected FM. Sad !!

  238. Well she fought for the rights not for her benefits .its for poor tea garden workers. I congradulate sitharam madamji.

  239. She should rebuke RBI not SBI for endless confusion with so called KYC…..the lady is not fit for her job.

  240. I don’t understand how FM concluded that those accounts are genuine ? SBI may be slow but they do follow the due procedure as per RBI guidelines. It is RBI which keep on changing goal post and now run by a fool.

  241. Banks work as per RBI guidelines. RBI had issued guidelines on KYC, now Bank is following that. If bank doesn’t follow then RBI levy heavy plenty on Bank and if Bank follow then Chairman has to listen. Government should order RBI for issue of liberliazed KYC instructions. Here Bank people are working on rule framed by government and RBI. So Bank staff cannot be blamed.

  242. Norms must be followed but respective banks should have the authority to let go of not harmful rule as per the risk attached to it. Everytime RBI’s permission should not be necessary. But who will tell this to rbi governor who seems to find it hard to let go off power.
    KYC is necessary but for poor people documents are a big thing to collect. Same is the case of NRC too. Poor people rarely have documents. Government should take them into consideration.
    Also bank should not be forced to bend rule because minister has said so. Bank should do its own risk assessment.
    Also, govt that praises private banks over public banks should rope in private banks for dbt at least in 25% of cases if it is so concerned.
    Bending rules because a politician has said so is a bad habbit. An authority such as SBI chairman should refrain from doing that.

  243. Banks should never compromise in compliance issues.. Lack of compliance leads to the failure of banks.. Recent examples are YES bank, PMC..

    • In future the same FM will allege that the SBI Chairman compromised KYC issues while accommodating these dubious tea garden workers with debatable identity. Who knows one of them could be a ULFA terrorist. It is unwise to surrender to such fiats unless there is a clear written directive from FM to relax the KYC norms for these people

    • The same bank kept all their values n laws aside while paying thousands of crores to Malya for kingfisher airlines.

      This is question of poor tea garden employees. WTF u r talking about?

      It’s all about inefficient bankers only. While kingfisher loans they received boxes of cash along with airhostes for nights…

    • Compliance must be followed in loan acct not in low salaried garden worker’s saving acct. Bank gets inefficient when loans are distributed without credibility with means of corruption. Not due to low profile saving acct kyc issue

  244. I thought atleast chairman will be spared from superior atrocity
    Alas! if chairman has to face the brunt the batton will always be passed till the wrath is reached to the last personnel
    Banking has become a joke to the government of the day
    one decision whether DBT gas subsidy or some other aubsidy is adding crores of transactions
    Still we are coping to the challenge but ur rising the bar every time and ur so unfaithful towarda us

    • I entirety endorse your views. This government officials live on our tax & do not want to favour us with flexible norms of KYC rather remains rigid & rude also while dealing with us.
      I hope this becomes a lesson for the others. A strongest message from public representative is always welcome.

    • yes,she is to bottom entire psu banking is insensitive and incompetent to the miseries of the masses.even government systems and procedures improved a lot but these PSU bankers are just oblivious of the pains.only concern for them is wage revision and entitlements.Governmemt needs to freeze their salaries and let them account for all the NPAs.

    • Banking is a business and like any business should maximise their return to the owners. It is for the owners who here happen to be the government to tell the bank what they should do, not by a public dressing down but by clear cut instructions to which the government should own up responsibility. All that the bank has done is complying with government guidelines. The minister is in need of some education.

    • People and politicians alike with little knowledge about banking norms wrt KYC making bold statement is the name of the country. The SOP is designed by the government & RBI for the smooth banking operations so that the system doesn’t crash but high-handed intervention to override the same SOP is not good for the system. All concerned should address that issue first before activating the accounts otherwise illegal migrants from Bangladesh, Myanmar, etc. will benefit from DBT given by the government. The same set of people will then blame the banks for not ensuring money reaching the deserving citizens of India.

    • If she had paid so much attention in YES BANK this would not have been the condition of YES BANK.
      Actually she had been attentive in disbursing loan to big defaulters.
      Now they will safeguard YES BANK and let the SBI doom.

    • Man he is following protocol from According to rbi
      What mistake he did kuchbhi Bina dekeke comment karta hai
      Not from minister.

    • You are right.
      RBI Governor/Dt Governors was not working, So they have to resign. Now SBI chairman is not working. Only Sitaraman is working

    • Not in the open !
      Will you shout at officials of repute in public over procedural, mechanism lapses? If you (fm) cud not differentiate between how to handle issues in officialdom and /or politics then you are better not in the position any more…

    • Staff of 2 where 4 needed will not help in getting the backlogged work done. Govt is not allowing big vacancies to these banks. Our pay commission which is due from 2017 has still not got finalized. Plz dont see things from ur end only.

    • I totally agree. The bankers have become totally heartless and go by their own interpretations to harass customers. The days of “customer is the king” are forgotten.

    • Her statement is utter wrong. The RBI is responsible along with the Govt of India for framing the KYC guidelines . If banks dont follow them they are fined crores for non compliance and along with that punishment for erring officials. And the finance minister blasting out to bankers for following the guidelines actually framed by them(the Govt). UTTER NON SENSE.

  245. It is not correct to allow the audio conversation of Finance minister with her subordinate in open when country is under severe stress. Finance minister has her authority over her subordinates. Dont make it politicized.

    • A public meeting is recorded. But the minister, who ought to have been aware of this continued in this vein, is out of line in pulling up SBI chairman who has done nothing but follow RBI guidelines. If the government thinks it appropriate they should change the KYC policy. It is not for banks to ask changes or relaxation in critical guidelines like KYC

    • Ha.. ha….ha. In this country everything is politicised. This party has the knack of politicising everything, possibly this too, to establish the obvious.

    • The fellow who released the video should be taken to task. She expressed her anguish. It should be taken to logical action.

    • The Chairman of SBI is equivalent to RBI Governor in the country !
      This has been the tradition on several counts
      The Treatment meted out to such dignitaries by political positions speaks upon the lack of maturity.
      SBI Chairnan is not subordinate to anybody in the country…

  246. SBI work in high handed manner. It is very difficult to get work done. We are struggling to get a cheque book for past many years and now our account blocked just by giving one SMS.

    • Pl provide the facts on the other side of the coin. Just like that don’t pass comments. We are getting cheque books & other services promptly. It depends on how you respond for the requirements of the bank.

  247. Dear Nirmala Sitharam

    Welcome to our world. Talking to SBI is like hitting your head against a wall.

    A common indian citizen

    • Dear anu,

      KYC is an utmost identity, SBI follows the RBI Guideliness which is one of the arm of Finance ministry. No bank compromise in KYC terms because RBI impose a hefty penalty if banks does not follow KYC Guidelines. Does normal pay the penalty amount if bank made activate the accounts? SBI Fundamentals are strong hence bank not compromise for any thing.

    • Why 2.5 lakh people not made their accounts operative. At least govt. Give ist deposit rs 50/200 instead of Rs 15.00 lakh. SBI or any Bank is not responsible

    • I do agree. Why only SBI, officials of all nationalised banks are enjoying their salaries and perks and are not customer friendly. They make customers run on small pretexts. I had several incidents with these banks. On the contrary ICICI bank is lauded for their prompt response and services.
      If chairman is reprimanded the staff may get sensitized.

      • Brother, how many branches are there for Icici , how many r there in difficult areas like Financial Inclusion, far flung, hill areas, remote villages branches? there is no comparison with these corporate hi-fi banks with SBI, which is the service oriented ,rather than business minded. that’s why our PM’s all policies are executed successfully by SBI only. this Govt is undoubtedly indebted to SBI for implementing their policies & made the govt’s name HIGH.

  248. So what wrong she have the print put the news in such a way that she looted money…..dont be a paid media….stop poking..

    • If she had paid so much attention in YES BANK this would not have been the condition of YES BANK.
      Actually she had been attentive in disbursing loan to big defaulters.
      Now they will safeguard YES BANK and let the SBI doom.

  249. The Finance Minister has gone mad. She doesn’t know anything about Economy and the crisis. Instead of slamming SBI chairman, she should ask Private Banks CMD about financial inclusion, kyc norms, etc… Whole country knows All Govt Schemes are implemented Forcefully by Govt, Private Sector banks don’t implement any Govt Scheme well…Just for the sake of vote banks, she doesn’t give power to PSB to recover loan dues from public. She thinks only privatisation is the only way to achieve economic goals. Modi govt has done several good things for India but on the economic front, Govt is nowhere close to Congress Govt. Modi ji want India GDP 5 trillion dollars, but that’s impossible if they go for privatization of PSB. One day PSB will be history….

  250. Seems to be KYC related problem due to lack of documents with the tea garden workers. And it is this govt which is hell bent on conducting NRC to prove that v r Indians by verifying our documents. Heartless!

    • True. Bring out the real factors behind the issue…So the govt will poke at the executive on one side and act on political agenda on the other… people should be clear on the twin plays of political bosses…

  251. KYC is part of our national obsession with black money. This is not Rana Talwar’s family buying a mansion on Amrita Shergill Marg. Poor tea garden workers who do not earn enough even to pay income tax. As for the public upbraiding of India’s senior most banker – next only to the Governor of the RBI – most unbecoming.

  252. There is no doubt this lady is arrogant. As Defence Minister she made a compliant Chief open all Army Cantonments because she has a house in Secunderabad Cantonment . This was to enable her guests to go through security without a hassle. It would not have been possible for such a rule to be done only for her in only one Cantt. One bomb blast in any of the opened Cantts will cost the Army its reputation.
    As FM she put an economic illiterate as RBI governor because the other competent ones were not pliable and has a a Finance Secretary who is also a general purpose bureaucrat.
    It is this Govt that has been strict on implementing KYC norms for all account holders. Now because of large voter discomfort she wants it to be over ruled. Recently State Bank of India asked all account holders to reproduce KYC documents again despite having them on their record. Ironically she is getting that overruled for a segment of the population in a BJP State. Needless to state that our economy is going down.
    God help our country. Jai Hind !!!

    • if the report is true then it is only for vote bank. We all suffered blocking of account for sometime till we submitted fresh KYC documents inspite of same documents made available previously. Now if FM has so much of concern then her financial service department should have taken initiative to tell RBI to exempt all such account holders throughout India from fresh KYC process.

    • If we ignore the tone and pitch of her voice for an instance. She is not asking SBI to ignore the KYC norms. She asking SBI to help the illeterate workers to get their KYC done. It is true that even the most educated and worldly experienced guy get confused with paper work and also get frustrated and finally leave. So, it is even more possible to happen in case of marginal workers.

      So, her intension is to make SBI realise to help the people follow the rules instead of just showing them the rule. Showing rule is important but that is just the first step. Second step is help people follow the rule. Guide them, hand hold them.

    • I am holding a pension account with SBI with regular annual submission of Life Certificate and still being asked to submit KYC documents as mandated by RBI ! If this proves efficiency of SBI then why the same bank is described as Heartless while asking for KYC ? This is simply a double standard practice on behalf of FM. Please refresh your knowledge in banking.

      • Dont be silly, KYC rule is not cast in stone, its for the Bank and RBI to negotiate. SBI did not do it. Go read RBI circular dated May 2018.

        Little learning is a dangerous thing, drink deep or taste not…

    • may i know the reason? simple she can shout and dobt have any respect for such a senior person… that’s why?

    • She is not a lady. A termagent. We all know how efficiency she was as RM, and her efficiency is plain for all to see. Better resign and start cooking classes.

      • at least get your English right, it is termagant, not termagent…

        As for her efficiency, she is doing a decent job considering the headwinds.

        And she is surely a Lady.

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