Prime Minister Narendra Mode announced the opening of 170 mn account opening during last less than 12 months under Jan Dhan Yojana. Additionally, he also asked bankers to finance start-ups. Indian banks, especially public sector banks are struggling with customer service. Imagine the additional customer load and service expectations.
About a year back I had blogged Everyone Else but Customers, wherein I had stated banks are for customers, but bank boards have nominees from all other stakeholders like RBI, Govt, Employees, Officers & Shareholders but no customer nominees. In the absence of customer nominees who will advocate customers cause?