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SBI account holder in the lurch over Forex transaction

By Staff Reporter
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GUWAHATI, June 18 - Even after more than two months have passed since a foreign exchange (Forex) transaction was made through the State Bank of India (SBI), the intended beneficiary based in Bangladesh is yet to receive the amount, leaving both the sender and the beneficiary in the lurch.

This, despite the fact that the SBI had even deducted the amount that was to be transferred to the account of the intended beneficiary based in Cox�s Bazar.

Worse, although the sender had repeatedly approached the branch, submitted all the documents sought and subsequently even brought the matter to the notice of the senior officials at the SBI head office at Dispur, they could not come up with any satisfactory answer on the outward remittance of USD 31.45.

The Forex transaction was done on April 9, against which a customer acknowledgement copy has been received.

�The SBI head office, quoting their Kolkata office, claimed that the money was released on June 6 but they had no answer when the bank details (Basic Bank Limited) of the beneficiary (Muhammad Ali) reflected no such transaction. The officials of the branch too seem to have no clue. Such an unprofessional attitude is really uncalled for from a bank like the SBI, which claims to be a leading player in the banking sector,� said Sanjoy Ray, the SBI account holder, who had visited the bank on numerous occasions to seek redressal.

�Finding no other way, I told them to return my money, but to no avail. I still do not know what actually the problem is. This certainly amounts to harassment,� the aggrieved account holder said, adding that he is considering lodging a complaint with the appropriate authorities.

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SBI account holder in the lurch over Forex transaction

GUWAHATI, June 18 - Even after more than two months have passed since a foreign exchange (Forex) transaction was made through the State Bank of India (SBI), the intended beneficiary based in Bangladesh is yet to receive the amount, leaving both the sender and the beneficiary in the lurch.

This, despite the fact that the SBI had even deducted the amount that was to be transferred to the account of the intended beneficiary based in Cox�s Bazar.

Worse, although the sender had repeatedly approached the branch, submitted all the documents sought and subsequently even brought the matter to the notice of the senior officials at the SBI head office at Dispur, they could not come up with any satisfactory answer on the outward remittance of USD 31.45.

The Forex transaction was done on April 9, against which a customer acknowledgement copy has been received.

�The SBI head office, quoting their Kolkata office, claimed that the money was released on June 6 but they had no answer when the bank details (Basic Bank Limited) of the beneficiary (Muhammad Ali) reflected no such transaction. The officials of the branch too seem to have no clue. Such an unprofessional attitude is really uncalled for from a bank like the SBI, which claims to be a leading player in the banking sector,� said Sanjoy Ray, the SBI account holder, who had visited the bank on numerous occasions to seek redressal.

�Finding no other way, I told them to return my money, but to no avail. I still do not know what actually the problem is. This certainly amounts to harassment,� the aggrieved account holder said, adding that he is considering lodging a complaint with the appropriate authorities.