Date:22/09/2007 URL: http://www.thehindu.com/2007/09/22/stories/2007092254120500.htm

Karnataka - Bangalore

‘Enhance public relations’

Staff Correspondent

Public sector banks must improve service: Mallya

Bangalore: With customers enjoying a wider choice from foreign and ‘new generation’ banks, older banks in India need to expand their public relations and ‘brand building’ exercises, so that they can become more accessible to their clientele, said Prakash Mallya, Chairman and Managing Director of Vijaya Bank, here on Friday.

Speaking at the seminar on “PR and communications for banks and financial institutions”, organised by Public Relations Council of India and Indian Banks Association, Mr. Mallya said that good public relations and response to customers’ needs, enhance a bank’s image, improves labour relations within a bank, and makes damage control easier. It would boost the confidence of investors also.

“While 77 per cent of all transactions are still conducted by public sector banks, this picture may rapidly change as the average age most mid to senior level bank officers is 48 to 53, and they may not be able to adapt to the new environment in the industry or the demands of younger customers for faster service,” he said. With interest rates and charges almost uniform, quality of service could become the differentiator, he added. D.S. Sreedhar, Finance Director of Karnataka Power Corporation Ltd., said, “Public utilities that touch the lives of citizens need to improve service standards and focus more on customer requirements without becoming unaffordable.”