Customers delight ?

Often retail clients or customers walk out of bank disgruntled and disgusted with the service offered... and sometimes even with the way they are treated. Partial treatment, lack of sound of sound knowledge on the part of the relationship manager, inadequate interpersonal skills, unethical practices and archaic administration practices often irks many of us as customers of banks. But now RBI seems to be taking cognisance of this, and soon customer service at a bank may turn to be 'customer delight’.

RBI is thinking of launching a model code of conduct for banks in India. In consultation with Banking Codes and Standards Board of India and Indian Banks’ Association, banks would have to develop a model code keeping customers’ rights in mind. RBI would closely monitor the progress of banks in complying with the model code.

The model code is likely protect following rights of customers of banks

• Right to fair treatment
• Right to transparency
• Right to fair and honest dealing
• Right to suitability
• Right to privacy
• Right to grievance redressal and compensation
   

PersonalFN believes, the introduction of new model code would be a boon for clients or customers of banks, especially the retail or smaller ones who have often been partially treated. This would give them better defence for protection of their rights. The code would not only help keep check in unwarranted behaviour of bank employees towards customers (whenever such incidence take place in deed), but also work in interest of banks as well, if they indeed transform their service to 'customer delight’. You see, the model code may enforce banks to serve their customers with courtesy which may help them create brand loyalty.