Delay in foreign remmitance
M.Susairaj
(Querist) 05 July 2012
This query is : Resolved
A foreign remittance( from Japan) to my State Bank of India account has been sent to my account on 15th of february 2012 through Foreign exchange department Kolkata.
For a long time the local branch has been telling me that they did not receive any intimiation regarding this.My repeated enquiries at the local SBI branch did not prove useful and they also did not do anything to trace the amount.
It is at the instance of me writing to the greivence manager in Bombay our local branch manager told me be that they received the remittance on the 4th June 2012.
I would like know from the experts beacuse of whose fault this delay has been caused? I do not know where to obtain this information.
And what is the remedy availble to me for the damges caused due to such a long delay?
Adv.R.P.Chugh
(Expert) 05 July 2012
1. Since SBI is a public sector bank you can seek the reason of delay by filing an RTI since the same are within the exclusive knowledge of the bank they are equipped to tell.
2. Since you are a customer to the bank any default or deficiency of service by the bank can be brought to the notice of banking ombudsman.
Good Luck !
malipeddi jaggarao
(Expert) 06 July 2012
What is the amount? What damage you sustained for delay? In this particular case, the Foreign Exchange Department of SBI might have sent it to a wrong branch. Or it might have the remittance pending due want of full particulars.
However generally they do mention the value date (date on which they received payment) and the amount can be credited to your account with that value date so that there will not be any interest loss. For this you can request your local branch manager. Sometimes, the delay is beyond the control of local branch manager. The action to be taken all depends how it caused damage to you and what is the loss. If there is no loss or damage better one can forget the issue.