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CUSTOMER SERVICES IN BANKS
Presented By:
Niti Dodia (13)
Nimisha Patil (34)
Isha Vora (60)
Akshaya Lad (82)
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IMPORTANCE OF CUSTOMER SERVICES
Changing customer expectations
The increased importance of customer service
The need for a relationship strategy
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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
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KEY AREAS OF CUSTOMER SERVICES
The key areas ofcustomers 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.
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CUSTOMER SERVICES OFFERED
Credit Card/Debit Card
Automatic Teller Machine(ATM)
Mobile Banking
Core Banking System(CBS)
Electronic Clearance System(ECS)
NEFT and RTGS
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CUSTOMER SERVICES OFFERED
Standing instruction
Internet Banking
Safe Deposit Vaults
Insurance
Demat Account
Gold coins
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M DAMODARAN COMMITTEE
RECOMMENDATIONS
1. Home loan :
New & old customer
Automatic annual a/c statement
Switch over
Title deed Education loan
2. Senior citizen :
Provision of SMS alerts Automatic updation of customer
Submit annual life certificate
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M DAMODARAN COMMITTEE
RECOMMENDATIONS
3. Rural Area :
Exchange currency facility
Flexible timing
4. Other : Deposit insurance cover to be increase
Instant blocking
Plain vanilla saving a/c
Chief customer officer
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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.
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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 authorityagainst the Banking Ombudsmens decision with 30 days.
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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