Page 39 - Banking Finance June 2020

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new entities. IFSC code for each branch has a specific currency carrying boxes are whipped regularly to prevent
number used in cheque book as these cheque books may infections. We need to take full care of mints printing
not be of any use and customers may have given this branch currency notes and this need to present pristine look.
IFSC code to many parties they have been dealing for long. Special instructions to merchants by banks for ensuring EDC
Educating customers on regular basis for some time would and point of sales machines are unsoiled and placed in
be win win situation for both the parties. A small meeting hygienic conditions are important Steps to Stem Coronavirus
with customers explaining the need to consolidate the Damage.Nevertheless, this will stave off an immediate
branches if any with mergers of banks would have good banking crisis at an early stage of economic damage of the
sense of belonging. coronavirus on the banks.

RBI has exclusive circular for taking care of senior citizens As the merger follows there are whole lot of issues,
and that could be mutually shared and discussed with the guidelines, emerging striking issues and ever changing
senior citizens of the branch with update knowledge of digital banking landscape and where customers are no
progress of merger. With the new beginning, new branch longer standing in queue in the brick and mortar branch but
and invitation with a smile by new consolidated entity on the mobile from unknown place for quick solution to
branch head and staff would have customers satisfied and their problems. It becomes all the more decisive when it
happy going back. Podcasts in regional language briefly is related to unwanted debit digital entry in their accounts.
enumerating the need for consolidation of banks being need Sooner and later digital banking is going to in the hands
of the hour would earn brownie points for the branch. of the customers. It is imperative to note senior citizens
and rural populace is now comfortable having graduated
The present branch thanking the customers for their from whatsapp apprenticeships. For new merged
continued support could be shared with the customers. For banks whether it is spending money on brick and mortar,
some time a pop up could show up on screen when these land and staff and computers, server room or diving deep
new customers visit now, their new branch to be taken with by investing in technology and innovations, it is a million
a little extra care as now these would be dealing with new dollar question.
branch staff in new premises. This would surely cement the
relationship for a long time. With banking licenses for well deserved entity on the tap
and exciting banking digital bandwagon on the go one has
In banking history we had all kind of crises but vicious and to look at the life cycle of customer who starts when the
bewildering shock of this magnitude which could bring to customer steps in on bank's digital portal and once one opens
life the severe-case economic scenarios we had fortunately the account through video kyc then it is going to be digital
not faced. Banking services are the life lines of economy services happily after. It is no brainier digital bank and
and need to beat at all time. Well created defenses as virus friendly technology driven new merged bank is going to be
scare is knocking at our door would not only will prepare us taking all the goodies.
in advance to handle on deadly new virus but ensure we do
not fall further behind. It would be in the fitness of things if Look over the shoulder in cybercafe of small town in
bankers are advised to use masks while dealing with adjoining PC seat the ordinary looking village young man is
customers. Having compulsory sanitizers in bathrooms for getting all the price details of grains, spices, pulses and
staff and customers would be of a great help. agriculture commodities. He is on the Skype on his phone
cracking a deal and at the same time checking agriculture
Clearing houses need to be sanitized on regular basis as derivative/ commodities on computer screen. And a young
cheques images from all over the places reach there. The construction worker sitting in cybercafé of small town in a
digital push on all kind of banking transactions would obviate different state finalizing to go for work in related industry
the supply of cash and help prevent customers touching in another state giving interview on Skype or seeking work
currency notes. Jawboning cleaning staff to ensure sitting in far off smart city. It is going to be a new dawn for merged
sofas, chairs in branch premises, toilets, cash counters, banks. T

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