To be honest, no matter how much SBI advertises i still am not comfortable opening an account with them… reason being they still work like any government office.

This was proved once again when they lost Rs. 15000 of a DU student. Read the excerpt below (taken from Hindustan Times)

THE NEXT time you visit an ATM, beware. It might steal some of your hard-earned money and give you just a receipt instead of the cash.

A Delhi University student learnt this the hard way when the ATM of a nationalised bank, with a branch at Sadar Bazaar, robbed him of Rs 15,000 without paying him a penny but that was just the beginning of his horror.

He went to the ATM’s branch only to get a royal snub from the officers, who told him to get the matter sorted from the State Bank of India (SBI), where he held his account.

The victim, Sahil Ludhani, a II-year student B.Com student at SRCC College, then went to his branch at Delhi University for redressal, but to no avail.

Officials at the SBI branch kept directing him to the “officer concerned” who happened to be on leave. “I continued going there to find the officer concerned but could not meet him. On the other hand, since the matter involved another bank, whose ATM I had used, several officials at the SBI branch started detailing lengthy procedures and bureaucratic formalities involved. Rs 15,000 just vanished from my account,” Sahil said.

The incident occurred on January 23, when Sahil was hard-pressed for some money “Being from Udaipur, I do not even have anyone who could help me out with that kind of money I desperately borrowed from friends to pay my tuition fees, hostel and food bills. I also notified my parents, but by then we were skeptical about transferring more money into the account,” he said. According to SBI officials, Sahil’s unique case involves a long process spanning more than a month even at an age when the banking sector promises everything at the click of a mouse.