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Secure the future - Insurance

 
Started by : Niranjan Meena, Actuary Manager, LIC   07 24 2010 05:57:16 +0000
Industry : BankingFunctional Area : India(Markets)
Activity:  78 views;  last activity : 09 14 2010 16:01:04 +0000

With years, banks are also adding services to their customers. The Indian banking industry is passing through a phase of customers market. The customers have more choices in choosing their banks. A competition has been established within the banks operating in India. With stiff competition and advancement of technology, the services provided by banks has become more easy, vast and convenient.

http://www.fsbmillersd.com/images/collageServices.jpg

The past days are witness to an hour wait before withdrawing cash from accounts or a cheque from north of the country being cleared in one month in the south. But today's customer wants something more than banks than merely banking. So according to you all, what are the top 10 services that banks can provide other than banking?

 
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1 2 3 4 5
1 They can guide new Businesmans
2 Banks can also provide insurance.
3 Head of accounts.Manager accounts
4 interest rate more in deposit
5 Act as an element of change.
6 Help in Loan Syndication
7 village adoption and devlopment
8 Help insolvents
9 tourism services

They can guide new Businesmans

idea posted by Aditya Sharma Insurance Advisor/Analyst, LIC OF INDIA, ICICI LOMBARD

They can guide Businessmans in making plans for their businesses. This way  Businessmans' don't have to go after marketing experts for their business plans. Banks can than guide them how to get business loans for their  ventures.

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Bank has in record performances of business undertaking the have loaned. They can prepare an immense data bank from this and prepare their own project reports. The moment a person expresses his or her wish to take loan to start business banker can help with supplying a complete project details. For later use bank can givr a list of dos and donts and a list of books of accounta manitained both for tax authority as well as for MIS.

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Banks can also provide insurance.

idea posted by Niranjan Meena Actuary Manager, LIC

Banks can provide the services of insurance products to its customers. In this way, the customer can get a comprehensive insurance scheme covering loss of life, hospitalisation and personal baggage while travelling on any public mode of transport – Rail/Road etc from his own bank without approaching any insurance company separately.

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by puneet , Manager Admin  | 07 25 2010 12:40:35 +0000

banks doing so , some extent.

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Head of accounts.Manager accounts

idea posted by pappu. vanamali Manager (Finance &Accounts), Nayaasugarcomplex ltd
i suugest that psb or doingwell but the overemploment govt controlls somany banks somany branches or leg pullers so thers must be consolidation is required
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interest rate more in deposit

idea posted by planet Clearing Officer, A.P MAHESH COOPERTIVE BANK

bank should provide much interest rate to deposits and extra interest on senior citizen, 

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Act as an element of change.

idea posted by Shashi Kumar U Manager accounts & commercial, Mazda Concrete Products Pvt Ltd
Banks should help people not only to save money but also advice people as to how to use their money. it should be an agent of change to help people to bring about change to enhance their quality of life.
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Help in Loan Syndication

idea posted by Suryanarayan Murthy Asst Vice President (Corporate Finance), A Hydro Power Project

I personally feel that Banks should have a seperate cell to guide the customers in loan syndication. Many entrepreneurs do not know how to handle the projections, cma data and go to consultants and getting their things done paying huge consultancy fee. Instead if bank offers the same services, which they can easily do with their experience, customers will be the happiest persons. Give a try, you will find tremendous response.

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village adoption and devlopment

idea posted by pappu. vanamali Manager (Finance &Accounts), Nayaasugarcomplex ltd

the banks can adopt under developed villages and make some investments in irrigation and roads and schools/colleges etc and slowly collect theire investments from the village people.At present the same is done by pvt partie or by Ngos but india is vast country and there is much scope in this area

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Help insolvents

idea posted by Satadru Shastri Partner, Mukherjee & Shastri

This is a filed where banks with all their expertise and man power may come to aid rather than tormenting poor insolvents. Not all insolvents are cheaters or frauds, normal people can fail in both life or business and they should be given a chance, this is one service that banks can afford to provide now albeit with a little help or in conjunction with the judiciary. Presently in our country insolvents are treated like shits but it can be a good market, i will give 2 reasons for that - 1. we indians are egoistic and 2. Banks can acquire more interests.   

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tourism services

idea posted by m k mathai senior manager, canara bank , broadway ekm

what tourists look for in an alien land is a dependable contact .  branch network of indian banks covers all the places worth visitng.  bank manager is immensely suited to act as this  dependable contact for the tourists.

banks should snatch this  opportunity to encash their reptation , that too ,  with negligible additional investment.   

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