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Showing posts from December 15, 2007

Worsening conditions of banks

After the local banks were denationalised - things have become worse - both for those who were employed in them and for those who have their accounts in them. Many bank employees were fired without thinking twice about the consequences - one of the many factors which have led the major disturbances in the country. The account holders are treated with absolute indifference. If their checque book has finished and have applied for a new one, if the new one is not collected within 60 days then the new checque book is destroyed - conveniently forgetting that the checque book belongs to the account holder and the bank has no business destroying it. It should keep it in trust so that the account holder can collect at has own convenience. An organisation called NIFT and the State Bank of Pakistan has prevented the banks from keep new checque books for more than 60 days and are required to destroy them. Whosoever invented this rule is a blithering idiot.
Banks encourage people save money in …