Day Traders Lounge.
- Thread starter nirav_j
- Start date
TradeJoker,
Sometimes, there can be a genuine reason for employees resisting computerization... mostly it is that the management makes haste to reach targets, goals or deadlines but fail to involve employees, take their input or even train them adequately to handle the system.... Not sure if this is the case for Federal Bank, but if a system implementation is flawed, it can create a lot of headaches for the staff as they have to give explanation and handle frustrated or angry customer.... There are many such cases which I know personally - where the bank employees are unable to explain the entries...
For those who have large bank deposits, and are subject to tax - please ensure to check the interest earned, interest credited and tax deducted at source.... Then compare the same to the certificates provided by the bank for TDS.... Sometimes the findings will unpleasantly surprise you....
Sometimes, there can be a genuine reason for employees resisting computerization... mostly it is that the management makes haste to reach targets, goals or deadlines but fail to involve employees, take their input or even train them adequately to handle the system.... Not sure if this is the case for Federal Bank, but if a system implementation is flawed, it can create a lot of headaches for the staff as they have to give explanation and handle frustrated or angry customer.... There are many such cases which I know personally - where the bank employees are unable to explain the entries...
For those who have large bank deposits, and are subject to tax - please ensure to check the interest earned, interest credited and tax deducted at source.... Then compare the same to the certificates provided by the bank for TDS.... Sometimes the findings will unpleasantly surprise you....
Interesting reason for a strike 
the employers want old banking system the problem is lack of computer skills
the employers want old banking system the problem is lack of computer skills
TradeJoker,
Nope, not talking about system failure... (it means that is a glitch) Saying this from personal knowledge... While reconciling interest credited, TDS figures and interest earned, there is a discrepancy in high 5 figures... Bank staff is unable to explain, manager is unable to answer. The reason they give is that it is system generated and direct to head office, who again give different computation that does not match... then the bank admits mistake, says excess TDS was deducted, credits it back... there are many entries of debits, credits, reversals, adjustments... and the whole thing is a mess... And to top it off, the head office give alibi that the system is 'outsourced' as though that explains it...
Sometimes when the management is incapable, inefficient or unwilling to make changes in system, there is no other recourse for employees... I don't have all the facts in this case... maybe they are right or wrong... but just pointing out that there are many issues as far as bank computerisation is concerned... My bank's operations had stalled for 48 hours last week... no transactions at all - because MTNL internet was down.... The fact is that their internet is down more than once a week... Do customers need to tell them to have an alternate internet vendor?
Nope, not talking about system failure... (it means that is a glitch) Saying this from personal knowledge... While reconciling interest credited, TDS figures and interest earned, there is a discrepancy in high 5 figures... Bank staff is unable to explain, manager is unable to answer. The reason they give is that it is system generated and direct to head office, who again give different computation that does not match... then the bank admits mistake, says excess TDS was deducted, credits it back... there are many entries of debits, credits, reversals, adjustments... and the whole thing is a mess... And to top it off, the head office give alibi that the system is 'outsourced' as though that explains it...
Sometimes when the management is incapable, inefficient or unwilling to make changes in system, there is no other recourse for employees... I don't have all the facts in this case... maybe they are right or wrong... but just pointing out that there are many issues as far as bank computerisation is concerned... My bank's operations had stalled for 48 hours last week... no transactions at all - because MTNL internet was down....
The fact is that their internet is down more than once a week... Do customers need to tell them to have an alternate internet vendor? 
World is it seems getting more divided and polarized...
While in India it is pro/anti Modi, UK it is pro/anti EU/Brexit, EU pro/anti immigration, US pro/anti Donald Trump, bankers and business pro/anti stimulus, global leaders believers/scoffers on climate change etc. etc...
Traders, as usual bullish/bearish.... :lol::lol::lol:
While in India it is pro/anti Modi, UK it is pro/anti EU/Brexit, EU pro/anti immigration, US pro/anti Donald Trump, bankers and business pro/anti stimulus, global leaders believers/scoffers on climate change etc. etc...
Traders, as usual bullish/bearish.... :lol::lol::lol:
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