There is and should be proper documentation by the State Bank of Pakistan about the rules and regulations according to international banking standards, but unfortunately they are not properly applied in our country and banks are not liable to answer its customers for any malpractice or inconvenience.
It has been a common observation that ATMs become choked, jammed, disconnected or out of cash whenever the Eid is here. It could not be a coincidence that most ATMs of various national and international banks go out of order at the same time, whenever there is a likelihood of larger than normal withdrawal of cash by the account holders. By getting the ATMs out of order in these days, banks not only deprive their customers of their own money, but also pile up large amounts at the banks disposal for so many days without any consent from the real owner of the money. In lengthy agreements, usually the banks or bankers are protected by the banking laws. Yet there are a few clauses which provide few basic rights to the account holders. In this case, all the ATMs display a service of 24/7 to the customers. If the banks fail to provide this service when needed, or illegally deprive the owners from access to cash, there should be strict legal action against them.
I request governor of State Bank to kindly take this matter seriously as this practice by the banks is a crime that should be covered by proper laws and bank customers/account holders should be encouraged to sue such banks accordingly.
NADEEM ALAM
PU, Lahore
