HDFC & other Banks should not be given the power to break the principal amount of FDs to recover taxes when there is sufficient balance in the account to deduct the tax from !

Are Banks allowed to break the principal amount of as many of your FDs to recover taxes in the presence of sufficient balance in the account even in the so-called breach of interest threshold limit ?

Does one have to sign the Customer Consent on TDS Recovery from CASA Form to protect the principal amount of your FDs from being broken by the Bank ?

Such questions as above are prevailing in the minds of many customers specially in the absence of any clear instructions of the RBI to the customers through their respective banks. The Banks have not informed the same to the customers through their websites or individual mails which is resulting in a lot of problems as the customer feels insecure about continuing having Fixed Deposits when RBI is allowing the banks to continuously break the principal amount of the customers without the authority or approval of the customers. Now one cannot even be sure if this is a new policy of the banks or the banks are simply implementing the rules of RBI. HDFC Bank's Taxation team is breaking a lot of FDs without the knowledge of the customers in the name of such a rule passed by RBI whereby the principal amount of FDs are being broken to recover taxes even in the presence of sufficient funds in the accounts. Now one wonders who is right here...

But something like this has never happened before...I am doing a research on that and conducting a survey as well on FB. Let's see what we come up with ! But whatever said and done FDs are supposed to be the most secure investments customers can have and they should not be easily broken without the consent of the customer !

HDFC is incapable of handling customer complaints fairly and correctly

HDFC always adopts a rigid and insensitive approach in addressing the problems of customers. In this recent case of their taxation team breaking the original principal  amount of the FDs without informing the customer , yet again they have demonstrated their lack of tact and lack of sensitivity in handling customer related matters. According to HDFC what is done is done and they want to quickly find a way of getting out of this situation without being nailed.

They are actually quite insensitive to all the problems and inconvenience caused to their customers by the actions of their teams every time. I have escalated the matter far enough and it has reached Ombudsman. Before that their Regional Office, Grievance Redressal and Nodal Principal Officer had thoroughly disappointed me with their indifferent attitude. They were actually collectively trying to suppress the entire matter when actually it is the right of the customer to go to the next level of the complaint process if not met with a satisfying resolution. They have been sending me back and forth to the various levels and access channels handling complaints so that I get tired and give up on my case.

Suddenly HDFC is interested in negotiating but  their reaction is quite delayed as I have already wasted a month on this matter as nobody was addressing it correctly. In fact in the beginning they had even closed the matter against the docket number given before it even went to the second level and I had to get the case revived after several more complaints.  What is the idea of posting information regarding different access channels of complaint on their website, when they do not allow the customer to access them in reality ? Their proposals offered to me even today are basically favouring their team and not really meeting my expectations. HDFC does not value it's customers at all ! 

HDFC Bank's Taxation Team given free hand to play around with people's FDs

Irrespective of any policy  changes they may claim, deducting money from  FDs original principal amount and that too without the customer's knowledge is totally  unacceptable when there is another way to recover the tax on the interest i.e. from the account at the time of crediting that interest to the account. When there is sufficient balance in the account, they have no right whatsoever to recover taxes on the interests given on FDs from the principal amount of the FDs. FDs are supposed to be secure and locked investments from a customer's point of view and nobody had the right to break those FDs except the customer.

HDFC  taxation team is suddenly messing up people's FDs with delayed recovery of taxes on the interests of the FDs and thus creating problems through these complicated transactions when they could simply recover that tax by deducting it from the account.

At this rate, they are being given the power to continuously reduce the principal amount of FDs whenever and as they feel like which can result in unpleasant banking experience for the customer. Their tax deductions have to be clean and smooth like before as well as within the boundaries of the usual procedures.

Having FDs with HDFC had always been a secure and pleasant experience but this recent episode had left me very discontented and insecure regarding my investments with their Bank. I mean to take this up with whoever  has brought about this drastic and negative change in the way HDFC deals with a customer's investment and hopefully try to influence any of their seniors who have the power to reverse this change as such complicated deductions by their taxation team can negatively affect the Bank's relationship with their customers .No customer would like their FDs to be touched like this without his/ her consent even if they had swipe FDs. The taxation team is not even stating who gave them the authorisation to deduct money from the original principal amount of the FDs specially in the presence of sufficient balance in the account. As it is they should recover taxes on the interests given on the FDs at the appropriate time and not later.

I have voiced my concerns. And I hope that something is done about it ! Their Grievance Redressal Cell's resolution and stand on the matter only reflects their commitment to their team and not the customer. Let's see what the Nodal Office does...

One has the Right to  Information and ask for answers specially when your investments are concerned. If nothing else responsibility has to be fixed on the people concerned for the careless and inefficient way they handle our accounts.

Every Bank be it HDFC, Deutsche Bank, HSBC or Citibank has shortcomings but the true character of any Bank comes forward in how they follow up and address the complaints effectively. Fair resolutions must be delivered !

Marks & Spencer Noida needs a total makeover

Marks & Spencer at GIP Mall Noida really needs a makeover in terms of the quality of service offered to customers and it's location of the women's wear section. Earlier on the women's clothing section had more privacy as it was not located right in front of the cash counter. Now there is no privacy even at the entrance of the changing rooms for women as the staff entrance is located there and everyone is just passing by all the time. The men's section has more privacy that way since it is located in a corner.

The clothes are good at Marks & Spencer here but fine customer service is actually quite lacking specially where the sales girls are concerned. I have always had an unpleasant experience with their sales girls who are just not trained to give the right advice to the customers and are quite negative in their attitude. The sales girls at the stores are too interfering and often argue as well as contradict the customer regarding the sizes the customer is accustomed to wearing. Often they mislead the customers as unlike other stores they have no idea that according to the labels,locations ,cuts and designs the sizes always differ for any individual. One doesn't ever wear the same size in everything. So I suggest that when you visit Marks & Spencer Noida, just don't let the sales girls interfere in your shopping and try not to let them bully you into trying out what they think is right for you as after all you know what suits you the best ! They are quite rude and don't let that bother you. Just tell them that you will help yourself...Seriously they ought to select courteous sales girls or they will lose their customers to Vero Moda, Celio or Only stores where even the male staff is giving more professional customer service to it's lady customers.

Their security staff now is more well mannered and professional than their sales people. They need to give good training to their staff to enhance the shopping experience of the customers.

 Even though alterations are free, the experience in getting alterations done there are quite unsatisfactory as they are quite rigid where alterations are concerned. One of their sales boy and their alterations tailor in the past recommended to pay and get alterations done by them outside. Naturally I found that quite odd and unprofessional !

CELIO @ GIP Mall seals it's bonds with customers through it's sensitive and flexible approach

Celio a French Retailer in Men's clothes provides a smart collection for men. And it's shop at GIP Noida speaks of the fine customer service offered usually by French brands. Their store manager is doing a great job and show great sensitivity in dealing with customers specially senior citizens. They also offer a smooth exchange policy interaction with customers. The other day while shopping at the store my mother forgot her credit card there and the store sent it's staff after us immediately to locate us at the mall before we left. Their staff is responsible and courteous.

Very Good Customer Service @ VERO MODA , GIP Mall

Vero Moda store always offers very good customer service and it is really nice shopping there. They have a wide choice of clothes to select from. The ambience and the store's music is great. What is nice is that they give you space while shopping and you can take as long as you want without their urging the customers to pick up something definitely.
Their staff is very enthusiastic, pleasant and helpful. The staff knows exactly what the customer is looking for and offer you more choices as well to select what is best for you. They are willing to put on hold the clothes you like so that you can think about whether you want them or not in a day or two. One always ends up going back to Vero Moda every time because of their flexibility with their customers and the friendliness of the staff.
They too offered me a mini mineral water bottle after shopping which I really appreciated as that definitely adds a personal touch to the entire shopping experience. As it is the staff was even good enough to offer their phone to me when I realised my phone was not charged and I had to call home. I thoroughly enjoy visiting the store every time. They offer really genuine discounts from time to time.

Pleasant shopping experience ONLY @ ONLY Store GIP Mall

It is always pleasant shopping at Only store. They have a great collection of clothes and the staff is  quite well-mannered and attentive. What impressed me was their offering mini mineral water bottles to my mother and I after our shopping. I thought that was very thoughtful of them to do so as we were actually quite thirsty after the long time we spent there shopping. This reminded me of shopping experience in small cities or years before where Indian hospitality meant that water or tea were offered to the customers.
Also it seems they have a flexible return and exchange policy.