Top 10 Problems in the Banking System in India: Possible Solutions
All Top 10, series, are all my original research papers that I've been trying to publish since 1994. WE NEED DIFFERENT MODEL for research and contribution to society at large.
1. Elite or Rich or Relatives or Friends of employees get services, and common customers are asked to wait in a queue......99% customers interviewed have said. Solution is: Treating elite in elite way. For common customers service within prescribed time...ex. opening account in 10 minutes, etc. by connecting AADHAR / UID + PAN + etc. Government might have done it already or might be in process....Let's trust.
2. "If employees have their own rights for themselves, then why not the customers have? Why can't the work be done in deadlines?........" An older man of 80 years age...........I've no comments over this please......
3. "Why while opening the account or policy or ....the norms are just 25 steps and 12 visits, but, while maturity, 50 steps and 100 visits be required?" An older women of 95 years age...........I've no comments over this please......
4. "Why the person who commits mistake be treated severely than others who have simple life and straight forward transactions?" An older man of 79 years age...........I've no comments over this please......
5. "If SBI says, "Every Indian Bank", will they be able to provide, services to every Indian?" An older man retried from other Bank. ...............I've no comments over this please......
6. "Why personal banking is better in Private Banks than in Government Banks, for certain cases and exactly opposite experience to others, i.e. Personal Banking is better in Government Banks than in Private Banks? Why this juxtapose experience to few for the same bank with the same people?" 65 years age person.
7. "I'll go with ABCDE Bank for internet banking....why the ....I'll go to Bank and stand in queue? I don't trust any Bank....in this respect....Private, Public Sector or International Bank." Young man of 28 years old with Platinum Credit Card. Again building trust is the problem. People have faith in the internet banking system but not on the services offered by personnel in the Banks....The real worrying factor...world over...
8. "I don't trust credit cards....they...outsmart even the smartest, even the spend thrift, even the owner of the bank or the credit car company himself...." I laughed a lot at this experience. No Bank could convince anybody about buying more than one credit card....in front of me....an my friends at one time in 2008, though we were just watching and it's happening in front of us....when we went for one transaction in one bank..............I've no comments over this please......
9. "Many have lost the biggest deals due to negligence of few esteemed customers having strong influence." Once, I've seen, a person came for the giant loans and the Bank employees didn't took him to the Branch Manager, in one Government Bank....showed arrogance.... etc. The person called the private personal banking in front of them and got promise of approval of the loan worth Rs. 1 Billion within 2 minutes....In case that branch manager had shown just a simple courtesy and some manners to deal with customers may it be simple or villagers dress ....he could have got national award...it's not dress or education or looks or connections or linkages or influence it was confidence of the person who got the Rs 1 Billion loans and....the arrogant USD 500 Billion Bank Branch Manager was seen lamenting why didn't I learnt to behave better with customers....and the employees too were seen....we lost a glory to us...?...". An executive from Private Bank who got it done...........I've no comments over this please......
10. The complicated forms and documentary evidence to get approval is so fantastic that if I've to start my business then I've to fill up 51 different forms and there is no guarantee that Banks will approve the loans in that business....". An 55 years old man telling me his own experience. ........I've no comments over this please......
connectivity feeble.
Dr. Ashish Manohar Urkude, ashish.urkude@gmail.com
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