Cobrapost Expose 2: Banks, LIC face FinMin heat - Business Line
Banks are in the business of attracting deposits and sanctioning of loans besides other services. Customer Service is at the top of their agenda. Despite two decades of reforms and competition with Private Banks as also introduction of technology at the cost of displeasing the trade unions, there has always been a blame on their quality of service, productivity and profitability. KYC norms are being meticulously observed by all types of banks for over a decade. Asset Liability and Risk Management guidelines are complied with strictly. With all these liberalisation, privatisation and globalisation measures in place, business growth is aimed at on an ongoing basis by all the banks. And, in the process, they end up landing in these scandals. So sad and unfortunate!