Wait on for AMC school kids to withdraw money

Bunches of applications are lying at the Bank’s main branch here and other branches are waiting for authentication,without which the digital recognition of the students’ signatures will not be possible at branches where they opened their accounts.

The problem occurred after bearer cheque books were distributed among nearly 500 students a few days ago. Subsequently,due to ignorance or oversight,instead of withdrawing cash,many of them deposited money in their newly opened accounts. Later,they could not withdraw the amount for absence of digital authentication of their signatures.

Bank of India’s marketing operations head P S Jadeja said that if brought to his notice,the bank would instruct the branches concerned to let the students withdraw the money where this problem had arisen.

On the signature authentication process,he said it’s a massive job and it might take another fortnight to complete the task. He also said that by the time the school board would release subsidy cheque books to the students,the exercise of authenticating signatures would be completed.

An IT department official of the Bank said that care would be taken to see that technical things like absence of digitally authenticated signatures does not come in the way of withdrawing money.

When pointed out that hundreds of students of schools located near the riverfront in Raikhad area had been shifted to areas like Vatva due to the project,officials said that students’ migration from one school to another would not impact the operation of their accounts.