Page 38 - Banking Finance August 2022

ARTICLE

8. Financial Transactions of DSB, more facilities may add up for door step banking
Currently cash withdrawal is available and Cash Deposit services by banks. Bank staff can complete the
and other services not available with most of the Public formalities in the sale of insurance, mutual fund and
Sector Banks undertaking the DSB. SBI is offering Cash other third party products at the convenience of the
deposit services from January 2021 onwards. customer at their place
9. Technical and other errors in App and website which Addressing customer complaints in a better way: In
leads to customer complaints. Also Server and network future banks can reach the customers door step for
issues in banks leads to delay in processing and providing effective solution of their complaints.
dissatisfied customers. Digitization: With the introduction of new technologies,
softwares and Apps, there is a ample scope of
10. Fraud Risk
digitization in many areas of banking.
One of the reason why DSB is yet to gain some
prominence among the general public is the concern of Banks will get more time to generate new business
being subject to some fraudulent activities. It can be at when more customers prefer DSB.
technical level or at the agents level.
Banking will be more experience oriented in future.
11. Lack of knowledge regarding the guidelines as furnished Though service by human and technology would exist
by the RBI. side by side, there will be more freedom and control
for the customer to make the choice in time, place and
Bank should educate customers about the features of door the manner in which he wants to do banking. The
step banking and encourage them to use DSB for ensuring branch would become a space for business conversation
their safety in this Pandemic times. rather than transaction.

Thus, with the banks rendering service to customers at their
Opportunities
doorstep and more and more people getting accustomed
In future the DSB services will be extended to all parts
to this facility, banking in India is certainly going to transform
of the country, there by extending service to millions of
in a better, desirable way.
people and canvassing more customers.
References
Banks can utilize the customer base created by this
facility for cross and up selling the products. Also they https://economictimes.indiatimes.com/
can utilize the DSB in completing KYC, credit https://www.goodreturns.in
underwriting and other formalities with respect to www.psbdsb.in
banking services. We can expect that with the success www.livemint.com

Aditya Birla Sun Life Mutual Fund launches Nifty Financial

Services ETF

Aditya Birla Sun Life Mutual Fund has launched a new ETF tracking the Nifty Financial Services TRI. The Nifty Finan-
cial Services Index is a welldiversified portfolio that goes beyond conventional banking and includes - insurance, wealth
management, stock broking, payment platforms, etc.
According to the fund house, the financial services sector, including banks, has had significant valuation derating
over the past 2 years. The press release said that given the expected comeback in terms of valuations in the sector,
this ETF represents a strong opportunity for growth.
"Given the recent volatility, many investors are now resorting to passive products that will provide them with the
option to take underlying index exposure in various segments of the market at low costs. This ETF presents a unique
investment opportunity in light of the significance of the BFSI sector," said A. Balasubramanian, MD & CEO, Aditya
Birla Sun Life AMC.

38 | 2022 | AUGUST | BANKING FINANCE