Banking on relationships | Business Line

Call for alertness | Business Line

Please read my letter on "Banking on relationships" published in HBL using this link. The submitted version is copied below:

September 22, 2014
Hindu Business Line
Banking on relationship
This refers to the report  “Now, SBIs education loans come with credit
cards” (September 22). This is a most appropriate and welcome initiative from
the country’s biggest bank and all banks should follow suit, no, not by
introducing the same product, but by factoring in the need for ongoing
relationship and monitoring of client’s financial health, irrespective of
whether the client is a depositor or borrower.
One is sadly aware that at a time when banks hate
the footprints of their clients on the floors of their premises even for making
deposits, maintaining a relationship between the bank and the customer is not
easy. The success of efforts in this direction will depend on the willingness
of the bank to see the customer as the reason for its existence. May be, banks
may have to revisit age-old practices of looking at family as a unit for
providing services and offering ‘Single Window’ service when the customer
happens to visit the bank. State Bank of India has a history of providing such
service and technology has not impaired the bank’s willingness to provide/offer
customer-friendly service and products.
M G Warrier, Mumbai


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