Union Steel Minister Beni Prasad Verma has said that rising prices of vegetables and cereals benefit farmers. The Minister is not wholly wrong.
But unfortunately in India (which is an agrarian country) rising prices of agricultural goods benefit only the middlemen, and not the farmers. It’s advisable that politicians and the media do not create a mountain out of a mole hill.
This has reference to the article, “A more customer-friendly approach to banking needed’ (Business Line, August 20).
Today, apart from different channels of delivery such as ATMs and business correspondents, banks have also harnessed technology to enhance customer service.
Besides redressal mechanisms such as ombudsman and consumer forum, banks have their own systems to address customer complaints.
As per RBI guidelines, they are ensuring compliance with ‘know your customer’ norms too.
Banks are also commercial entities and it is natural that a high net worth individual or an NRI sometimes receives more attention.
But care should be taken that the customer at the bottom of the pyramid is also served.
The present situation is the most crucial time for banks and staff because of the transformation in all spheres of working. Indian banking is robust enough to emerge more vibrant.