To realise the developed India by 2020

Tuesday, October 7, 2008

[India_Vision_2020] What is lacking in banking communication in India? Private and Public Sector

dear friends

Indian Banks' Association (IBA), the apex body of Indian banks and the Consumers Association of INdia (CAI) organised a seminar on 6th October 2008 at Chennai on "Rights and responsibilities of banks and consumers in banking services'.  Senior officials form RBI, Banking ombudsman, BCSBI, IBA, commercial banks, Information Commission, consumer activists participated.  Morning session was devoted for bankers to talk about their issues and expectations.  Evening session was devoted to consumers to talk about their experiences and expectations.

Ms Usha Thorat, Deputy Governor of Reserve Bank of India was also present and she delivered a valedictory address.  She has delivered a wonderful speech covering various aspects of customer needs and how they can take up.  (ranging from credit cards, recovery issues, ATM cards, charges, etc.).  I will release her speech and presentation copy  in the next part,  covering important points that you need to know as a customer of a bank.

I also had the unique honour of addressing the session on 'Communication in banking services".  I raised three points.

1.  Private sectors communicate excessively and only for their convenience. Public Sectors do not communicate anything and even when they communcate internally and externally, it is only chairman centric.  No PSU Bank has any media contact or media releases in their websites.  Private sectors, though, update their sites,  communicate only when they want and selectively.  

2.  PSU Banks spend thousands of crores of rupees in technology without much gain for the customers.  they are more vendor centric, than need based.  Inview of this, customers are burdened with heavy charges.  They lack transparency. 

3.  PSU Banks spend thousands of crores in the name of 're-branding' their logos.  With one hundred years of expertise and talent, what they need is 're-positioning' (innovating new products and services and improving their services). 

Please download the speech copy and watch / listen to my speech in the following link

http://prpoint.blogspot.com/2008/10/what-is-lacking-in-banking-sector.html


Srinivasan
Prime Point
94440 50273


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Publisher and Patron
K. Srinivasan,
Team:
Shivanarayan Pasupathy
Jayatheerthan
Balamurugan
Subha Ganesh
Contact
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India Vision website offers lot of information about the various aspects of Vision 2020. Please download the ezines and podcasts on this theme. Please visit http://www.indiavision2020.org

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India Vision 2020 is the largest Indian group for youth to discuss the strategies for realising the devleoped India by 2020. This Blog carries the feed from the India Vision discussion group. Please join the group by clicking
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