CUSTOMER SERVICES IN BANKS

Presented By: Niti Dodia (13) Nimisha Patil (34) Isha Vora (60) Akshaya Lad (82)

IMPORTANCE OF CUSTOMER SERVICES

Changing customer expectations The increased importance of customer service The need for a relationship strategy

THE SERVICE CHARGES

How do banks price their services? Client relationship and the nature of the transaction Corporate segment comprises of the bulk and large value transactions The other segments comprise the brokers, small and medium enterprises (SME)

Why is RBI taking note of different service charges levied by banks? Unreasonable and non-transparent service charges Display the charges in specified formats. Low value/volume of transactions were not penalized. Fix charges consistent

KEY AREAS OF CUSTOMER SERVICES

The key areas of customers services to be attended timely and regularly are:

Submission of statement of A/Cs to customers Updating of savings pass books. Teller system efficiency. Cleanliness and Upkeep of premises. Intermediate Credit for institution cheques/land bills. Advance intimation to customers for rewards of Term Deposits Receipts on maturity. Advance for Debit/credit to accounts. Punctuality of staff.

CUSTOMER SERVICES OFFERED

Credit Card/Debit Card Automatic Teller Machine(ATM) Mobile Banking Core Banking System(CBS) Electronic Clearance System(ECS) NEFT and RTGS

CUSTOMER SERVICES OFFERED

Standing instruction Internet Banking Safe Deposit Vaults Insurance Demat Account Gold coins

M DAMODARAN COMMITTEE RECOMMENDATIONS

1.

Home loan : New & old customer Automatic annual a/c statement Switch over Title deed Education loan Senior citizen : Provision of SMS alerts Automatic updation of customer Submit annual life certificate

2.

M DAMODARAN COMMITTEE RECOMMENDATIONS

3.

Rural Area : Exchange currency facility Flexible timing Other : Deposit insurance cover to be increase Instant blocking Plain vanilla saving a/c Chief customer officer

4.

COMPLAINTS, GRIEVANCES AND FEEDBACK

Internal Procedure provided by a Bank:
a) Bank will give the following details to lodge a complaint: How to do this Where a complaint can be made How a complaint should be made When to expect a reply Whom to approach for redressal What to do if you are not happy about the outcome. b)Details about the procedure. c) Keep informed of the progress within a reasonable period of time depending upon the means of complaint. d) Examining and responding within 30 days of receipt of the complaint.

COMPLAINTS, GRIEVANCES AND FEEDBACK

Banking Ombudsman Scheme (BOS):

File a complaint with BOS if within 1 month the bank has not responded. Lodge a complaint with BOS. Procedure for filing the complaint. Who can file the complaint? Limit on the amount of compensation as specified in an award. Compensation be claimed for mental agony and harassment. Details are required in the application Settlement of complaint by BOS. If not satisfied then the bank or complainant can approach the appellate authority against the Banking Ombudsmens decision with 30 days.

A customer is the most important visitor on our premises, he is not dependent on us. We are dependent on him. He is not an interruption in our work. He is the purpose of it. He is not an outsider in our business. He is part of it. We are not doing him a favor by serving him. He is doing us a favor by giving us an opportunity to do so.

- Mahatma Gandhi