Raghuram Rajan will you please do the following?
Forget big bang things – Corporate India will take what it wants. The Finance Minister will ensure that the companies and big groups will exert enough pressure on all of you for all it wants.
Do these following things for the common man:
1. Create a separate bank not too much bothered about profitability so that it concentrates on giving good services to the middle class customers.
2. Ensure that banks cannot sell any ULIP policy to any client till the client has not bought a Rs. 5 Million Term Cover.
3. Ensure that there is no Tax Deduction at Source for senior citizens – your banks are just not competent to handle the complex work involved.
4. FORCE each branch to have a retired employee so that he/she can deal with customers over the age of 55.
5. Banks should have a target of deposits, loans, etc. – for senior citizens.
6. These banks should be allowed to raise deposits, open savings and current accounts, but have a limit of Rs. 5 crores for giving loans.
7. These banks should not be allowed into any other financial businesses!
8. Merge all PSU mutual funds – they are not doing a great job being so fragmented anyway.
9. Check why PSU banks should promote so many life insurance companies – LIC is enough, why do you need Bank of Baroda, SBI, Canara…..to promote life insurance companies? do they serve any useful purpose?
10. With 50 odd banks at your disposal why do you not ask them to concentrate on regions or particular causes?
11. Create a real ombudsman who makes sure that JUSTICE is done, not an ombudsman who hides behind rules, regulations, etc.
12. An intellectual Central banker and an immensely powerful Finance Minister can do a lot of good for the nation – but it feels somewhere….that it may be different!
Achin
Few additions from my side
1) They shouldn’t offer any credit cards
2) They shouldn’t infact offer any instruments which lead to any commissions either to bank or to agent
3) bank should try to do bank in ‘paperless’ manner if possible. Staff should have computer knowledge and have internet access available for use.
4) window to service retired customers should be available till 30mins before bank closing
5) The performance of the services should be captured by responses from bank customers and SLA (Service level agreements – time they are going to take to respond to specific issues / requests)
LuckyOye
Dream on, RR is simply a stooge of the current UPA govt. I am afraid I must say that I do not have any faith that he has the interests of the general indian public in mind when serving in the position of RBI guv.
Sreedhar
Sir, your thoughts on the new companies bill? Apologies if you have already written something.
Bull Bhai
India Needs People Like You. You Are Alone Enough To Lead The Nation And Give The Indians A Bright Future .
Now @@ Achin
I dont Agree With This Three Points
1) They shouldn’t offer any credit cards — Better Try To see some good merits also
2) They shouldn’t infact offer any instruments which lead to any commissions either to bank or to agent —- Than how will the bank progess and earn profit and what about employment.
3) Bank should try to do bank in ‘paperless’ manner if possible. Staff should have computer knowledge and have internet access available for use. —– Doing paperless banking will lead to more confusion and cyber crimes. Using papers it becomes a real evidence in the time of crisis and need.
Well I haven’t seen in any metro as well as in vllages not using computers or not having basic Computer knowledge . I feel it is the staff who should acquire all such knowledge themselves.
And lastly about Internet I will say is will lead to ISOLATION from work and NO PRODUCTIVITY.