Archive for the 'Banks and Banking' Category

Financial Products HAVE TO BE SOLD Subra

I keep doing this – keep asking the financial services industry the need for such a big variety of products while the customer needs only a few. Of course I do not get a satisfactory ¬†answer except that “Financial products are not bought, but have to be sold – and that has to be incentivised. […]

Na Mo and the banks…

We still do not know what happened at the banking conclave…or the ‘Gyaan Sangam. Hopefully some manthan must have happened and some amrut may have flown… What he spoke at the Icici function was 1. use cashless transactions – that will reduce black money. Fantastic. Since Na Mo cannot bring back that small amount lying […]

Customer Complaint…

“ICICI Bank Mr.P ………Branch, Regret to state that I am totally disappointed withe the level of service for the past few months. I had requested for opening of a new DEMAT in my single name . On 30th Jan 2014, I had paid Rs X and signed all documents as were required by you. When […]

We need more TYPES of banks….

I had done a post long long ago about needing various types of banks….let me enumerate…. 1. Banks which will cater EXCLUSIVELY to the lowest strata of society: catering to the urban poor and should be staffed by very normal kids and adults living in small houses. 2. Banks which will cater to the senior […]

Banking service deficiency…

Dear Sir, If you publish this in your blog, please remove loan account number and service request number. I had taken a home loan from ICICI during 2002 (account no. removed) The last EMI was paid in Jan, 2014. However, when I went to the branch to collect the original property documents, it was found […]

Bank rip off…but hey that is fine…

This is an awesome Bank-Customer Relationship story… A client of a bank had about Rs. 7-8 lakhs in the savings account. The Relationship manager moved it into a mix of mutual funds – equity about Rs. 1L and debt funds about Rs. 7Lakhs. After sometime this man wanted to buy a car and also needed […]

Good time to be in BFSI space…

Yes you read it right. This is a great time to be in the BFSI space – Banking & Financial Services Industry. Yes I know you are going through a tough time. Clients are not buying ULIPs , not even mutual funds, most people above the poverty line have 5 credit cards….. Why am I […]