BANKING ETHICS
"Consumers are always attracted to the word FREE "said Mr. J.V. Ramanan, Assistant General, General Manager, SBI- Zonal Office, Panjim on the occasion of the inaugural session of the seminar on "Ethical considerations in the Banking sector" organized by the Department of Commerce (Undergraduate and Post Graduate) St. Xavier's College, Mapusa recently in association with Goa Chamber of Commerce. Mr. Ramanan, spoke on the transition of the banking sector from manual to computerized operations, standard data platform to core banking solutions, emphasizing on sharp banking data program. He also dealt with issues related to Ethical considerations in the banking sector and concluded saying that a "bank is a commercial organization and needs to recover its investments and technological innovations". In his welcome speech, the Principal, Prof. Newman Fernandes emphasized the benefits the students could avail from the banking sector through internship training. He also stressed on the relationship between the banking organizations and the general public. The banks have to establish more trustworthy and secure relationships with their customers" he added. The first technical session was presided over by Mr. S.G.Fawade - SBI Training Office, Panjim. He stressed on key commitments of a bank towards its customers and provision of updated information to its customers such as changes in interest rates, tariff schedules etc. This was followed by an interactive session. "Banking sector is a big maze with lots of rules and regulations" said Mr. Roland Martins, Co-ordinator GOACAN and social activist who spoke on "Banking Practices and the need for Consumer Awareness". He said that every customer should acquire enough alertness and awareness to safeguard his own hard earned money before it turns out into a serious crisis. He also focused on various important issues that every customer should be aware of, in the daily banking operations such as banking frauds and internal assistance, electronic banking etc. Similarly, awareness regarding consumer redressal, consumer protection Act, Right to information and Inspection was also discussed. In the afternoon workshop, Mr. D.M. Deshpande, Principal of Saraswat College, Mapusa was the moderator. The audience was divided into groups and issues relating to the Banking sector were given for discussion. The participants made the following suggestions:- The loan instalments could be rescheduled giving additional time for recovery. Atleast three prior notices should be given to the defaulter. Similarly, regular information should be given to the surety regarding non-payment of instalment. Banks & other Financial Institutions should make sure that the borrower and surety understand the terms and conditions of the contract. Banks provide a variety of services to its customers like carrying out standing instructions such as paying LIC premium, electricity bills, water bills etc. but the service charge they are bound to charge should not be too high. Certain uniform and equitable guidelines should be maintained. The charges for transfer of cheques from one bank to another should not vary. There is a need for increasing transparency regarding rules and regulations as well as hidden costs penalties. Customers should also take an initiative in reading the forms, applications, fine print etc. 15th of every month is considered as customer day and banks are compelled to hold this day in order to allow customers to put forth their grievances. Awareness and availability of complaint book with the branch manager should be created, better services such as "May I help you" boards should be displayed, Grievance Redressal cell should be formed and the Office Incharge should be available on the 15th of every month. Proper Training should be given to the employees for offering better customer service. Customers should not be harassed at the hands of recovery agents. The seminar was coordinated by Ms.Carmelita D'Mello. _______________________________________________ Goanet mailing list Goanet@lists.goanet.org http://lists.goanet.org/listinfo.cgi/goanet-goanet.org
