I wish to open a fixed deposit with HDFC through netbanking. During the process, the bank employee asked me to enter a particular code for the LG code and LC code fields saying that it is to specify the particular branch of the bank. However, I am not satisfied with the explanation offered as I have already selected 'home branch' as the place of FD. A quick google search shows that these codes are associated with forex cards (LG code for linking the forex card with your account and the LC code to specify the type of currency). These fields are also shown on the offline application form (see image below) and are separate from the branch code. Can somebody explain the need for these codes for a FD? I suspect that these are the codes through which the bank provides incentives to the bank employee for making me open the FD, as the person was quite eager to make me open the FD.
These are the codes through which the bank provides incentives to the bank employee for making me open the FD. Every Branch has some target. The same is passed on to the branch employees & RM.
There is no harm to you. But you can ask them to send later the FD receipt to your house ( if you don't want to visit the branch for hard copy ). If they Deny and tell you - You have to collect from branch. Then simply avoid their LG /LC codes.
I would have gladly put the code if the person had gently requested me the favor. But, not only did the person lie to me, but I was also misguided. I wanted to open a sweep-in FD and could not do it through netbanking. The person misguided me that for a sweep-in FD I have to come to the bank and apply manually. I later realized that sweep-in FD can be done through netbanking manually after first creating a standard FD. The person wanted me to come to the bank and make FDs through a manual application so that they can fill in the code themselves without my knowledge. To achieve this the person hid the details about how to convert a normal FD to sweep-in FD through netbanking.
Is inconveniencing another person for one's own selfish benefit the right thing to do?
Employees are going an extra mile to make a small contribution to their own pocket at the cost of me taking some time off my work, driving a car, burning fuel, paying for parking, searching for a parking slot in a busy market area, and driving back. I hope employees stop going such extra miles!
I would have gladly put the code if the person had gently requested me the favor. But, not only did the person lie to me, but I was also misguided. I wanted to open a sweep-in FD and could not do it through netbanking. The person misguided me that for a sweep-in FD I have to come to the bank and apply manually. I later realized that sweep-in FD can be done through netbanking manually after first creating a standard FD. The person wanted me to come to the bank and make FDs through a manual application so that they can fill in the code themselves without my knowledge. To achieve this the person hid the details about how to convert a normal FD to sweep-in FD through netbanking.
Is inconveniencing another person for one's own selfish benefit the right thing to do?
Employees are going an extra mile to make a small contribution to their own pocket at the cost of me taking some time off my work, driving a car, burning fuel, paying for parking, searching for a parking slot in a busy market area, and driving back. I hope employees stop going such extra miles!
iska ilaaj sirf netbanking/app banking he hai.