Are the banking industries customer friendly?

Mr. Kameswar Rao,

Banking is a business. You are very right in that.  

Heard the some bank's ad. "PURE BANKING, NOTHING ELSE" 

And according to your view it is "PURE BUSINESS AND NOTHING ELSE"

Then why talk of any service.

Those who have  xyz's Credit card, should know it better. For the payment due on 16th of the month, normally you get the statement only after 21st of the month, even if the payment by cheque is made on the same day, you are most likely to be charged penality for late payment and some finance charges, God  knows what is it for.  You know what the customer care told me. "You know the expense you incurred, you should have paid without waiting for the statement". Then why the hell I need  a credit card at all.

PURE BUSINESS, NOTHING ELSE.

Hi all,

This is a very relevant topic in todays economy. Being in the banking industry for more than 3.5 years I strongly feel that Banks are still not up tp the mark in being customer friendly. I think banks are being myopic in looking at the customer base they have. It's like having a key to the profitablity in front of them but still beating around to find it.

According to me the root cause behind it is that unsatisfied front office staff. How can a person who is not happy, serve a customer in front of him with a smile?

Further discussion in this regard is required.

As per my understanding goes, they need to improve a lot in this regard..You never get full and complete information whenevr you interact with any guy from the customer support team and whenever you go to the bank premises they ask you to call the customer care center....and the cycle goes on.

Hi abraham,

You bought some relevant issues, i agree with you that Indian banking industry should become more customer friendly and customer centric in its conduct and business practices. At a wider level, however, customer does not get satisfactory service even after demanding it and there has been a disenfranchisement of the depositor.

As regards the cost aspect of the providing good customer service, I would like to see a zero cost element or to very minimal extent for such transactions and rather see that as a long-term investment for nurturing and developing a healthy and robust bank customer relationship. The challenge for the bank management, therefore, is to devise innovative and cost-effective means of delivering banking services efficiently, evolve remunerative business models, while fully leveraging modern technology so that there is an optimal trade off between their bottom line and the extent of customer centricity they choose to deploy in their business operations.

I hope that the banking community in India should rise and deliver banking services efficiently to the masses, at a reasonable cost.........

Any thoughts ???