Union Minister of State for Finance Bhagwat Kishanrao Karad. , Photo Credit: Giri KVS
Calling for further reforms in banking services, Minister of State for Finance Bhagwat K Karad urged banks to treat their customers as Gods.
Addressing a customer meet event organized by Bank of Maharashtra (BoM) earlier this week, Mr Karad said, “Banks should focus on improving their customer service and work towards reducing pain points “
Also, he asked the customers to be “responsive and prompt in repayment of loans so that the banks are financially sound”.
With regard to Kisan Credit Card (KCC), he urged the banks including BoMs to increase the reach of KCC scheme to more farmers and ensure time bound saturation.
“The banking industry needs to serve small and marginal farmers, youth and women agri-entrepreneurs and act as a catalyst for growth,” he said.
He said India has now become the fifth largest economy in the world and is aiming to become a $5 trillion economy under the guidance of Prime Minister Narendra Modi.
Addressing the gathering, AS Rajeev, Managing Director, BoM said, “The Bank in its continuous endeavor is focused on creating an ecosystem with emphasis on digitization, which is desirable in line with the evolving technology, economy and customer needs. Ready to make a difference.”
“So far we have brought in the journey of transformation with remarkable digitization measures. We are taking sensible measures to create a highly customer-centric ecosystem with a range of highly competitive products and services. Has been,” he said.
Apart from the customers, the event was attended by BoM Board Members, Zonal Manager Chitra Datar, Deputy General Manager, Govt. Business Cell Nayana Sahasrabuddhe and other senior officials.
Mr Karad praised BoM for being number one on various key financial parameters and the way it has transformed itself from a bank under the Prompt Corrective Action (PCA) framework to one of the best performing lenders.
Of the 25 key parameters, he said, the BoM has topped in 20-22 indicators.
