Weakness of banks

This is not the time for Indian banks to walk Turtles' speed



One of major weakness, I have found in Indian banks which I want to share in this blog because, I think there are lots of accountants of Indian banks  who also watch this blog,  can take best decisions to remove this weakness.

Main Feebleness of Indian Banks :

Delay in Payment of Foreign Currency Check :-

Suppose, a person gets check of  Rs. 46000 in USA dollar, means he gets $ 1000 instead of getting his money in Indian currency from USA Company. Now, if that person will deposit his $ 1000 check, there is no system in Indian bank to pay quickly to Indian customer. With this Indian customer who are trading in USA suffers lots of problems due to not paying fastly. Customer will receive his payment after one month.

All Indian banks have same parrot's words that your check will go to USA and from where you get Indian money. Even after spending 63 years of Independence and more than 20 years of information technology, connecting network of banks in all over the world, all these banks can not provide the quick facility of payment of foreign currency check.

I am not showing just weakness of banks, I have some good ideas to solve this problem.

# Ist Idea :

All Indian banks manager with central banks must meet all foreign banks managers and discuss this issue to foreign banks. I think, customer has no tension how much foreign exchange charges will be spent on this fast exchange of money.

# 2nd Idea :

RBI of India must approve all foreign banks to deal, if they are ready to pay the customer's amount after taking foreign currency check.

For example, a customer who lives in India,  get the check of $ 1000 which is payable in Citi Bank New york. But, all over the India, there are lots of Citi bank's branches. RBI must allow all these banks to deal in India, if they pay to customer without sending check USA or any other foreign country.

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Accounting Education: Weakness of banks
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Accounting Education
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