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Showing posts from November, 2022

Customer Service and Customer Empathy

  Customer Service and Customer Empathy/Delight It is quite some time that I have not updated my pass books with the post office, functioning 1 KM away from my residence. I also needed to buy two 'tamil weeklies' - 'thuglak' and 'kumudam', from a nearby petty shop. Completing the above jobs will also ensure that my two wheeler, not operated for more than a week, to get adequately charged! When I was nearing the post office, I realised that I forgot to carry the purse (cash and cards wallet) with me. (I should pay Rs.40 to buy the 'tamil weeklies' mentioned above). I comforted myself that I will withdraw cash from the SB account with the post office, since I carry the pass book. I gave the pass books to the post master requesting for up-dation with an assurance "no hurry, I will pick it up on Monday" (two days after today).  Then I requested for a cash withdrawal slip. The post master asked "how much would you like to take". I said ...

Steep hike in fixed deposit rates by BoB and CB

  H ike in deposit rates:  BOB and CB set the trend Brief : Bank of Baroda (BoB) and Canara Bank (CB) hiked their fixed deposit rate to 7% for normal category and 7.5% for senior citizens. While BoB offer this rate for 399 days for non callable deposits , CB extend the benefit for 666 days deposits without any withdrawal restrictions. The rates offered by the two banks is higher by 75 bps at least, as compared to the maximum deposit rates on offer from the other major public sector/ private banks. The move surprised many as BoB and CB are the third and fourth largest, respectively, among PSBs, in terms of total assets. They  also posted impressive finacial results in the first two quarters of the current financial year 2022-23. Trend setter or trigger forced rates?  Are they setting a trend for the other banks to follow? Or is it that there are trigger points in the business portfolio that forced both to offer interest rate that beat the market, by a huge margin....