HOW TO DEAL WITH NEW CHALLENGES IN BANKING : MERGERS AND CORONA-VIRUS

New dawn from 1st April with full of challenges are sure to bring structural benefits and allow these robust entities to become flag bearers for Indian economy and padded up customers. Foremost, it would be ideal if along with good customer service focus is placed on creating goodwill too. Taking preventive measures by branches by providing masks and liquid soap sachets across customers touchpoints and service facility tables to safeguard health and safety in light of coronavirus outbreak would go a long way in reconnecting new customers of merged banks.

- N. K. Bakshi

It would be beneficial to develop a 360-degree vehicle of merged banks and display new charges, interest rates, and toll- free numbers for senior citizens, pension payment dates, the names and addresses of closed branches and direction to now new branches with addresses for the new customers of merged banks. Again, showcasing on 360 -degree vehicle new contact numbers for assistance and new RMs for large corporates and MSMEs would positively make customers comfortable by creating an atmosphere of ease of doing business.

Further, it would help customer take a virtual tour of the merged entity. Small hiccups in short term which will be surely handled gracefully would set an excellent example of better governance. There is good number of innovative and simple steps which could be practiced by the new merged entity branch which would help it have a smooth transaction. A thought could be given in educating customers visiting branch to set their anxiety at rest. One of the most important main points would be locker facility and customers having lockers need to be adjusted as in near branch lockers to that extent may not be available as the cost of maintaining the premises are positively high.