the whole episode connects me to the basic root of the problem.that is non clarity in job descriptions on various levels. at the outset the banks has made advances in many areas and the reconciling is at few places. the decision making authorities are also at few places. the measure problem seems that the bank officials themselves do not have the complete information and the decision guidelines at one go at any of the levels. looking to the kind of work they are into they should be given extensive book of guidelines and continuous training on such issues. the situations narrated above are now so common and this is an examplary case. lack of information about the accounts is a grave problem at the local levels to make any decisions. if the bank can improve on these two moreover when you handle advance options like internet based banking and others , the softwares that help the customer care officials must be pondered upon by the compilation of the complaints and by brainstorming with going into the customer's shoes. i think the issues pin down to 1. guidelines on every level 2. complete information at every level 3. softwares help on the above two issues 4. communication guidelines both interdepartmental and with customers. 5. speed of communication vis a vis the solution pro approach in the communication (most of the communications in the above case are useless and confusing just to reply speedily, they are without any specific guidelines for approaching a specific
As Ram Naresh foreclosure has got the foreclosure form puna branch he had go complaint against two diffrent foreclosure statement form same bank with consumer court to miss guiding the Ram Naresh, He has right to get Copy of agreement Which he had singhned on tacking loan Every customer has right to know about all charges Either stamping OR processing Charges Once he has Rigister case Against The bank. The Higher Authority Will Have Come to know that They are having that kind of Idiot peoples with them So may be possible the Imidiate action they had taken on that time till know he will Do same procidure Against Bank Authorities. I will sugest Mr, Ram Naresh first right them and ask them please give the copy of my agreement and you will come to know what kind of agreement he has singed And it helps him to Make case easy against Bank & Bank will pay for your most valuable time what you spent form your Working time.
I tried to send my analysis/solution, but failed to do so. When I press HERE, it took me to smart manager's website, where they asked to register to their newsletter. This is good gimmick to collect email addresses, but thank to their javascript errors, I could not register and send my analysis.
Rediff should have collected analysis and pass on to SmartManager for further process or should have provided email address to send analysis directly.
People who are posting their analysis are senior people and rediff.com should consider importance of their time as well. If for each interaction we have to register with new website, we will think twice..
i think that the bank employee doesn't have full knowledge about loans. the PM had said that only he has the power to provide 0% loan. then how the bank employees had sanctioned the loan of RNM. it means that the employees had thought that they have power to provide loan @0%. but there is big mistake of RNM because if he wanted loan he should contact the senior officer of bank or branch manager(loan).his second big mistake was why he had given more cheques to bank.sothere is lack of knowledge and communication
Too Many Cooks Spoil the Broth. Likewise too many attendants on any single Issue will not only spoil the Institution Name but will also spread the stench far and wide.
This case is simply a case of a breach of trust on behalf of the institution and if i were on the place of Dr.Mehra i would have taken up this case sstraight up to the Consumer court on the very first time i had been cheated as he told about the june EMI being taken twice the bank started showing its colors from June only so it was on his to file the case it is never too late now also he can file a case under the consumer forum as he has every document of their reply and copy of his letters to bank so he can now also go forward to the forum not for his benifitt but benefit of the community so that no one else is harrassed and people should limit their transactions to the bank till they mend their ways and i must advice him from now on to buy a cell or phone with inbuilt recording system as they prove to be very helpful as evidences agaist the banks and always take anything from any institiution on paer as to show them in court as evidences if they do not hounour wht they say.I am a Boy of 17 and could have just thought of this as to best of my knowledge as i am still a student and learning.
4. Though I am putting this point 4th but this is the most important point, each and every deal, conversation and rules or whatever it may be should be in written so that the client or banks do not have any problem in case of any discrepencies. 5. There should be a checklist for the bank employee which the should go through before any loan transaction. 6. If there is any change in the rule of bank or government, client should be informed about the changes at the earliest. 8. There should be one administration department and quality department which should check the things regularly, if the system is running smooth or not. 9. Graph should be maintained and target should be set that the descrepencies should always go below after every interval. 7. Last but not the least, atleast private banks should follow the footsteps of govt. banks of babu system making the client run desk to desk for his problems, which further harasses him/her and banks lose a customer.
These type of problems occur in any financial institutions, it is because of the system followed by these financial institutions. No institution or bank want this type of hassles and problems to occur. These things occur because of the incentive system running in the institutions, the employees become so blind in the greed of incentives offered by the employer that they go on to extent of lieing or saying things which they are not sure enough or not at all aware. I would like to put the things in points for the above problems : 1. Training of the employees should be proper. 2. If there is an incentive system then there should be a rule that if the client faces any problem there incentives can be taken back with good amount of fine imposed on them, that may be depromotion, salary cut or monetary fine. 3. Every conversation with the customer care should be recorded for future reference and if any wrong information is conveyed to the client, strict actions should be taken against the customer care executives.
Dear All, The foremost aspect to be addressed is that the personal or any loan's foreclosure terms and conditions must be communicated very clearly in writing to all prospective customer/s and customers acceptance on the same must be obtained by the bank as a matter of record.
Secondly,above info must also be communicated to the centralised customer service centre to enable harmonius information relay to an existing or prospective customer.
The above would solve the matter to a great extent.
Thirdly,the bank must establish a separate cell to facilitate closure and they should lay down and follow timelines for return of documents etc on foreclosure or at the end of tenure.This is necesary as ending a loan relationship smoothly is as important as creating one.This would also ensure positive references by word of mouth from an old consumer and healthy probability of repeat business.
