Indian Finance Minister lashes public sector banks for losing customer connect  

Communication has always been quoted as the strongest tool for connecting with people. This is especially a skill that public sector employees, especially those working in the banks need to sharpen up. The Indian Finance Minister, Nirmala Sitharaman had a word or two to say on the same lines to the government-run bank officials.

This outburst came from the Minister at an event, where she was unveiling the next phase of public sector bank reform, Ease 3.0. She was irked by repeated customer complaints from across the country.

Ms. Sitharaman’s outburst was a rare experience for the veteran bankers, who are already known to be unresponsive and not very friendly towards their customers. Here is a quote from the finance minister’s outburst. She states that the banks have lost “personal” connect with the customers. This has led to assessments being messed up. Consequently whatever subsidies and facilities are designed for the customers by the government is never communicated to the customers properly. She was speaking in the context of how bans have to look at a “judicious mix of personal connect and data.” The minister addressed the bankers in a meeting that went on for 25 minutes

She further added that people who apply for credit or loans should get it. However, it is understood that sometimes cases have to be denied. Not all requests need to go through as there will be cases where a bank might find itself incapable of lending a loan. Whatever might be the situation, the minister was insistent that the same be communicated to the customer.

She ended her concerns with a solution stating that the need of the hour is to train the branch staff. She reiterated on the fact that the government schemes have to be promoted. For the same to be effectively implemented, people in the banks, especially the branch level staff have to be updated with what is happening. Without the basic know-how, the staff will never be able to implement the schemes or educate the customers about it. However, she did recognize that the manpower crunch could be a pressing issue.