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Moneylife Digital Team 14 November 2011
Currently around 68% of flats in Mumbai cost more than Rs1 crore while 95,000 flats have remained unsold which may take three years get absorbed. While the bad debts are increasing there are new funding avenues opening for realtors  The growing concern over bad loans, in addition to Moody’s...

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SH Subramanian 14 November 2011
For banks- both nationalised and private, you are just a number. Be ready to dump them and move on – if you can afford to Often there's a valid question as to whether the banks- both nationalised and private -care about their customers. The answer is very simple; it cares to ensure that it...

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Moneylife Digital Team 12 September 2011
Account holders complain banks do not give TDS certificates on time, tax deducted not credited to tax credit account  The Reserve Bank of India recently announced that banks must issue duly completed tax deduction at source (TDS) certificates for account holders and dispatch it to their...

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Moneylife Digital Team 08 September 2011
Insurance on deposits and prompt delivery of TDS certificates are two issues the committee has overlooked Several cooperative banks are saddled with bad debt. These banks usually have a lot of political influence. Poor supervision and low accountability has led to a series of failures among...

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Moneylife Digital Team 06 September 2011
The banking regulator today announced 10 points that banks must work on to improve services for customers The Reserve Bank of India (RBI) today announced that banks must issue certificates for tax deduction at source (TDS) duly completed, for account holders, and dispatch to their mailing...

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Sucheta Dalal Sucheta Dalal 25 August 2011
The Damodaran committee report is full of homilies and general statements rather than action points suited to the Indian ground reality After 13 months of deliberations and so much of drama over its release, the report of the Damodaran committee on customer services in banks has turned out...

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Moneylife Digital Team 22 August 2011
A study by FICCI, IBA and BCG highlights that the banking industry is growing in the right direction, but it lags behind global benchmarks in areas like staff deployment and that there is a need for a major overhaul of debt management Highlights of a banking industry study by FICCI, IBA and...

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What senior citizens expect is personalised service and understanding of their needs with a humane touch. But the report does not contain any specific suggestion to meet several special requirements of the elderly—the Committee has only made a few generalised statements The report on banking...

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Moneylife Digital Team 11 August 2011
According to the Deposit Insurance and Credit Guarantee Corporation, fully-protected accounts, where the deposit amount does not exceed Rs1 lakh, made up an astonishing 89% of the total number of accounts. Around 88% of the premium money comes from private and public banks—the beneficiaries of...

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Moneylife Digital Team 09 August 2011
Larger banks being made to bear the burden of the failure of poorly regulated co-operative banks The only beneficiaries of the deposit insurance premium collected by the Deposit Insurance and Credit Guarantee Corporation (DICGC) are badly-run and politically-influenced co-operative banks.

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Moneylife Digital Team 09 August 2011
Volumes may be still low compared to metropolitan cities, but higher yields, especially in home and two-wheeler loans, is making business more profitable in these places The prospects for corporate lenders in the retail sector are brighter today in tier-2 cities like Lucknow, Ludhiana,...

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Sucheta Dalal Sucheta Dalal 05 August 2011
Instead of intelligently reviewing the existing mechanism of customer services, the Damodaran Committee only wants to add to it The release of the Damodaran Committee report has to be among the strangest in recent times. After 13 months of deliberation, the report was released without M...

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Moneylife Digital Team 05 August 2011
According to the RBI-appointed panel, there are a number of complaints about wrong reporting by banks to credit bureaus, which has serious implications on the credibility of a borrower The Damodaran Committee appointed by the Reserve Bank of India (RBI) has said that there is a need to...

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Moneylife Digital Team 05 August 2011
The RBI panel on banking customer services list various measures to enhance convenience for customers and safety of electronic transactions The Damodaran Committee on banking customer services says there should be zero-liability on customers for any loss in electronic transactions. "Internet...

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Moneylife Digital Team 05 August 2011
They believe that most of the problems customers suffer are due to the unhelpful attitude of banking staff and that putting them in charge will not help The recommendation by the Damodaran Committee on banking customer services to set up an internal ombudsman system for every bank could...

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Moneylife Digital Team 04 August 2011
RBI panel on bank customer services describes several improvements that can improve banking processes The much-awaited report on bank customer services by a Reserve Bank of India-appointed committee has made several proposals like simplifying account opening forms, lowering charges for...

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Moneylife Digital Team 04 August 2011
The Committee has also said that all borrowers should be allowed to switch over from fixed to floating rates, or vice-versa, at least once during the tenure of the loan, and at an appropriate and reasonable fee The Damodaran Committee on bank customer services has said that there should be...

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Moneylife Digital Team 04 August 2011
RBI panel on customer services says board must discuss top complaints and monitor implementation of policy for customer care  The Damodaran Committee on bank customer services has recommended active involvement of the boards of banks to guarantee customer satisfaction. "Commitment to...

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Moneylife Digital Team 04 August 2011
RBI panel on customer services has also recommended that pensioners be allowed to submit annual life certificate at any branch of the bank The Reserve Bank of India-appointed committee on bank customer services has recommended prioritised services for senior citizens and physically handicapped...

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Moneylife Digital Team 04 August 2011
The RBI-appointed committee does not say anything about the obstacles in the documentation process that prevents students from availing the loans The Damodaran Committee on bank customer services has failed to address some key issues on education loans, like the absence of an authority to...

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