When an Airline Leaves a Customer Stranded
The demand for air travel continues to outstrip supply, doesn’t matter that the industry has a high mortality rate and fuel prices have touched a high. The domestic aviation industry posted a growth of 18.3% in July 2018, marking the 47th consecutive month of double-digit growth. Experts predict that this pace of growth will continue in the foreseeable future. 
 
Every airline is...
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Petrol crosses Rs 91/l, diesel at Rs 80 in Maharashtra
Petrol retail rates finally breached the Rs 90 mark in Mumbai by touching Rs 90.08 per litre here on Monday, but stood much higher elsewhere in the state, industry officials said.
 
Federation of Maharashtra Petroleum Dealers Association (FAMPEDA) President Uday Lodh said that the new rate became effective after a hike of 11 paise effected on Monday.
 
Parbhani District Petrol Dealers Association (PDPDA) President Sanjay Deshmukh said the petrol rates soared to Rs 91.91 in the districts.
 
The highest petrol prices logged in various cities included: Nanded Rs 91.61, Amravati Rs 91.31, Ratnagiri Rs 91.14 and Jalgaon Rs 91.01, said Lodh.
 
Similarly, diesel prices also shot up by five paise per litre in Parbhani where it sold at Rs 79.15, said Deshmukh.
 
However, Aurangabad notched the highest prices when diesel crossed the Rs 80 mark and retailed on Monday at Rs 80.53 per litre, followed by Amravati at Rs 79.90 and Solapur at Rs 79.25.
 
An official said that there was no fall in demand with the festival season currently on, and the upward trend was likely to continue for some time.
 
Disclaimer: Information, facts or opinions expressed in this news article are presented as sourced from IANS and do not reflect views of Moneylife and hence Moneylife is not responsible or liable for the same. As a source and news provider, IANS is responsible for accuracy, completeness, suitability and validity of any information in this article.

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Half of retail bank customers unhappy with services: Report
At a time when non-traditional competition is posing a challenge to traditional banking services, a new Capgemini report on Friday showed that globally just half of the customers are satisfied with their banking experiences.
 
Nearly a third of customers (32.3%) are willing to consider big tech companies for financial products and services, showed the findings of the report titled "World Retail Banking Report 2018".
 
The report based on insights of customers and senior banking executives in over 40 countries, including India, charts the current perspectives and potential evolution of traditional banks amid the continued emergence of big technology and financial tech players in the financial services space. 
 
"With fintechs, bigtechs, and other non-financial services firms finding their place in the market, retail banking today is all about the customer experience when interacting with their financial institution," said Anirban Bose, CEO of Capgemini's Financial Services Strategic Business Unit. 
 
The open banking ecosystem, emerging technologies, and soaring customer expectations, are among the new challenges that retail banks across the world are now facing in addition to traditional challenges, the report said. 
 
"As a new, open ecosystem -- comprised of customers, traditional banks, non-traditional firms, regulators, and developers -- takes shape, there is now a clear opportunity for banks to leverage digital transformation to retain customer relationships by re-inventing the customer journey and creating new revenue streams," Bose added. 
 
The findings suggest that retail banks need to collaborate and personalise customer experience.
 
Satisfaction was notably higher among those customers who had been offered personalised digital experiences proactively (49.1%) than those who had not (39.5%), showed the research conducted in collaboration with Paris-headquartered global non-profit Efma.
 
The report also surveyed banking executives about the main causes of industry disruption. The most-cited factor was rising customer expectations, with nearly three out of four executives (70.8%) stating that positive experiences in other sectors mean customers now expect more from their banking provider. 
 
A majority of executives (58.3%) also said that regulatory pressure was a cause of disruption, while 54.2% identified the increasing demand for digital channels as a factor. 
 
A significant majority of banking executives (70.8%) think they can "generate non-traditional revenue" via collaboration with major technology companies. 
 
"The retail banking industry is at an inflection point and needs to determine its role going forward in the open banking ecosystem. There is opportunity to innovate through collaboration as well as reinvention," said Vincent Bastid, Secretary General of Efma.
 
Disclaimer: Information, facts or opinions expressed in this news article are presented as sourced from IANS and do not reflect views of Moneylife and hence Moneylife is not responsible or liable for the same. As a source and news provider, IANS is responsible for accuracy, completeness, suitability and validity of any information in this article.

 

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