I am waiting for managers to come up with answers. This is the exact problem I faced with ICICI bank. Infact they went two steps ahead while disbursing the loan itself. It was disbursed one week after my marriage for which I wanted the loan. And our professor was lucky to get the second EMI back in seven days I got back after three months and they deducted the courier charges for sending the cheque. and till date they haven't sent back the cheques. Had to stop payment on all the cheques.
I would like to thank all the people involved in getting this artical placed here.Here I would like to say that outsourcing may get more sales to these banks but on a longer term reduces the credibility of these banks since these DSA's work on very high sales target and misguide the customer.One suggestion from a customer point of view if i may suggest is that all banks should have a verification /quality team (under RBI or any regulatory body)where these sales should be verified and all the terms and conditions should be put forward to the customers which could have been not mentioned by the banks(DSA's)at the time of sale.The other solution is that all banks should have a post sale # and a toll free automated #where in he or she can put in thier sales reciept and get all the guidelines and limitations which might have been left out by the banks staff.There it should give a choice to the customer to decline the offer on this automated machine and get thier refusal # then and there.I once again thank rediff to getting this article and enligten us with the problems that needs to be adressed.Thanks Rahul
for any bank customer satisfaction is the most important aspect and provide the best of servcies at all times.its is really vague that a customer is put in to lots of difficulties to close the loan amount as stated.all the employees right from the lower level to the highest executive ,customer are to be in copy of each loan activity from sanction till closing.its is very common scenerio these days that call centre does exist but its for the bank's advantage rather the customers .these executives need to be trained best of ways in order to tackle and issue enable them to find solutions to the customer then and there.hence need every executive to make a report on daily basis with rgds to the customers handled with there problems and the solution to the branch heads of respective location cc to the head office and the branch office where the loan taken.also a note on the subject issue to be sent to the customer with cc to all mentioend above thru mail will do.this call centres need to change a bit by putting every activity in writing rather each tiem a new executive comes into the picture and there is rewind of activity which results utter waste of time for either parties.
I had undergone exactly the same type of harassment with my personal loan with citi bank few years back. I had also recd. III party calls for payment default of personal loan I never took from Standard Charted bank. Story is same....
This is not an isolated case study. Everyday thousands of peoples are facing similar problem. The problem started from the fact that Bank is not giving clear-cut instructions to their DSA. While negotiating with the client they are giving all sorts of vague information, which some times not at all true. Since the arrangement between DSA and Bank is related with the numbers therefore this type of serious issue is not getting any importance from the DSA or bank while approving the loan. Not only this the most serious problem related with the lack of knowledge of the dealing staff. Generally in the call centers most of the staffs does not have any idea about basis knowledge of accountancy or simple mathematics (specially how to calculate simple interest etc.). Therefore if the person who is handling the case is not having knowledge of basic mathematics or accountancy, how he can able to guide or help the customer who is dealing about. I feel this type of problem can be solved only through transparency from the bank side as well as through adequate knowledge of the person who is handling the case. He or she must be having a commerce background or should be good in mathematics.
At the outset, any bank if they want more good customer they must know how to get along with cutomer and they need to have proper human relation ship otherwise the purpose of running a bank will be defeated. In the case of Ram Naresh mehra the bankers have delayed his foreclosure loan repayment with the intention to delay the process. I presume none of the bank will take back the loan immediately if any customer wants to foreclose immediately after six months. Bankers main intention is to collect more interest from the customers as long as they can. Secondly, at the time of disbursing the loan bankers will try to convince the customers about the interest part and repayment track to enable the customer to commit in a hurry burry. Finally they will make the customer to run around for any clarification about the loan and this has been happening with almost all private banks. In recent time they have call center and agencies through them loan being paid to the same customer even if they have existing loan with same bank. I found they do not have any track, If the bankers want to run the business they need to bank upon the customers and the service is not good customer will change
This kind of problem occurs to everybody and almost with every bank. The first and foremost reason for this problem is, the false promises given by the bank's sales representatives while opening a relationship. The sales reps, just to meet the target, they give all sort of false promises. Banks are also encouraging these kind of activities just to increase the customer base. Banks should stop this and ask their employees to be honest while explaining the terms and conditions to the customer.
