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I am an ex-employee of Syndicate Bank and KSFC. I left Syndicate Bank in 1991 and till today, except few years when I was working at Chennai, I have practiced as a Pro ject Finance Consultant. My banking experience is there fore around 22 years. I agree that private sector banks are technology oriente d. What exactly is technology? Internal accounts are co mputerized (CBS?) of not only private sector banks but a lso public sector banks. Everyone offers internet bankin g. Everyone now offers RTGS. I am not happy about all the three - RTGS, CBS and Internet Banking - the way it is implemented but the fact remains that these facilities a re available in both public and private sector. The discussion therefore should focus on what we wish t o do in a bank: Cash collection : I know of many nationalilzed banks who also collect cash. Nationalized banks also have cash management services. It is basically the bank staff who are either cooperative or hostile Loans : Private banks have loan products. If you meet the checklilst, your work is done. public sector banks are yet to take that route. Alternatively, if you have a good manager, you are in safest hands. Temporary facilities : Private sector banks can not just deviate from the loan product. This is a big handicap with them Share trading and loan against shares : The biggest danger in a private bank is their margin requirements. They are ruthless at times. If you dont meet the margin requirement, they may even sell it. You can perhaps reason with a public sector bank manager. ICICI and HDFC were both public sector banks catering t o a different segment. They started banking business th ats all. By SR Sham Sunder, CEO/MD/Director Technoaid 4 year s ago

Arguments in: "Nationalized Bank Vs Private Sector Bank"

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Support "NATIONALIZED BANK"

0 0 0 NATIONAL BANKS ARE MORE CHEATING T i support nationalized banks always By tanmoy , B.Tech/B.E. student, wbut | 1 year ago Support | Oppose 0 0 nationalized banks are mainly responsible for the economic development of the cou ntry.private banks mainly for the elite clas s people of the country.according to our fi nance ministry info almost 74% share of t his private banks like icici,hdfc are foreign shares.this banks have no gurrantee to sur Support | Oppose vive longer if recession period comes agai 0 n.private banks are beautiful from outside .their service charges,minimum amount t o open a savings etc are really high than a government bank.....by charging this high I work with a PSU Bank but learnt many n ew edge approaches from the Private cou er rates they gain profit.the outside glamo nter-parts .. !! Do know that both may not be combined as "ownersip issue" matters ur of private banks is no longer alive. a lot. By tanmoy , B.Tech/B.E. student, wbu Yes, ownership matters but may not PSU t | 2 years ago Banks learn from Pvt. Banks and vice-vers a ? May Pvt. Banks adopt more ethical bus iness practices than to garner profit and m Support | Oppose ore profit ? May PSU Banks learn how to b 0 e a bit more customer oriented ? 0 By ASOKE KUSARI, Domestic Private Banki I support Nationalised banks, even thoug h they are little slow in their approach an d not so Hi-tech programmed, they are tr ng-Executive/Manager, A large leading PS U Bank - India | 3 years ago 0 HAN PRIVATE SECTOR BANKS. AS THE PRI VATE SECTOR BANKS EXPLAINS ABOUT TH E PENALTIES BEFORE THE ACCOUNT OPEN INGS AND THEY INFORM US BY LETTER OR BY MAIL BUT THE NATINAL BANKS THEY WONT EXPLAIN ANYTHING THEY DECIDE HOW EVER THEY WANT WE ARE FACING T HIS TYPE OF PROBLEM FROM INDIAN BAN K THEY ARE VERY BIG CHEATERS THE MAN AGERS AND RECOVERY OFFICERS ONLY SE E FOR THEIR PROMOTIONS By LOKI1984 , INCHARGE, Services | 5 mo nths ago 0

aditional in nature, they trust in custome r relations, know your customer norms, s trictly adhere to the RBI Norms, some of the issues like motivating the staff, empo wering the staff are concerned, it is surly the Support "PRIVATE SECTOR BANK"

Support | Oppose 1 0

private sector is faaaaaaaaaaaaaaar ahea d of the nationalised banks no doubt abo Atul I think you are mistaken. You live in I ut it, it is high time and also better to upd ndia and I in Guyana. Our comment would ate the staffs and employees of nationali definitely be different. sed and public sector banks to the requir ed standards and competance? By Devi Kaladeen, Audit Manager, Health By Dr. S.Pruthviraja pande, Visiting Profes sor, Bangalore/Ravenshaw University | 3 years ago Support | Oppose 0 0 Sector Development Unit | 3 years ago Support | Oppose 1 1

If I would go for banking then definitely go for Private Sectors banks becuase the ser vices & response provided by Private Bank As I mentioned earlier that now a days PS s compare to COMMERCIAL BANKS. If we Bs are also updating their ambieance, tec enter any of the Private Sector Bank we fe hnology and promptness. For eg if you visi el High value & respect in the premises co t BOB or SBI they look more sophisticated mpare to COMMERCIAL BANKS. than Private Sector banks. Further to this Services provided by Private Banks are ver as I have felt most pvt sector bank are ado y efficient & prompt for the customers. pting measures for Cost Cutting (Low Cost ATm 'Non AC', Non urbane branches will By prakashraj kumavat, MBA/PGDM stude not have power back up..etc) which will s nt, Omegan School of Business (ICFAI Trip urely decrease their glamour. Apart from these all regarding Promptnes ura) | 4 years ago s of Response : Public Sector Banks may b e a little late but you will find uniformity i Support | Oppose n response on the otherhand Pvt Sector b 0 ank may respond promptly but you will fin 0 d discrepancy in responses given by two di fferent branches. Having moved from working in a nationali So i still cheer for Nationalisation.... sed Bank to a Private sector Bank, I vouc f By Bhupesh Saxena, National Account Ma or the huge difference between the cultu res of the two. I abide by private sector ba nager, Kotak Mahindra Bank | 3 years ag nks anytime not because i left working for o PSU but for the wayPrivate players are fu nctioning against time tested odds to gain biger market share andthrough sher hard Support | Oppose work, and the attitude to serve are postin 0 g bigger and bigger profits. As a layman I would always prefer to walk into a private 0 sector bank for investments/ financial ne eds than a PSU wherein I mightbe asked t Heard of choice between "Devil and Deep o come later. Having worked in a PSU, wh sea"? en I wanted to open a simle savings a/c wi

By Raguraman Bashyam, Principal Archite ct, Tech Mahindra | 3 years ago Support | Oppose 1 0

th one of it's branches in Mumbai I was ha rassed by the term introduction even afte r the submission of KYC documents, PAN Card and address proof. I was asked to get the introduction from a certain neighbour working inh the same bank branch and st aying in the sam building, it was pathetic a nd i swore never , even for old time's sake , ever deal with a PSU. It's wake up r Close up time for the

Nationalised Banks are in far better positi on than Private Bank. Low Cost of Funds Huge Customer Base Consumer Trust Due to above factors Nationalised banks a re in better position to offer cheaper servi ces & when someone think of bank he thi nks of money, be it depositing cash, withd rawing cash, cheques, loans, forex busines s or Trade activities so its obivious Nation alised Banks are better. However laking is of willingness. Private Banks can not provi de low cost service since they dont have f unds to back it, they can only grow if they offer better services thats the place Natio nalised Banks are a little failure. But now a days if you comapare Nationalised Banks have shown willingness to prove themself. SBI is now offering all services that too on line, be it equity trading, insurance or nor mal banking services. So cheers for Nationalisation.. By Bhupesh Saxena, National Account Ma nager, Kotak Mahindra Bank | 4 years ag o

By Smitha Gopal, Admin/Facilities Manage r, AXIS Bank | 4 years ago Support | Oppose 1 0 the working of private sector bank is very aggressive and goes with the senario of w hat we need in todays fast moving life. Un der one roof we can grab the oppournities to have all the financial problen sort out with hardly getting any problem in it. By harsh ranjan sharan, Cust. Service Exec utive, IDBI Bank | 4 years ago Support | Oppose 1 2 private bank if your looking for fast servic e,but security comes in matter i perfer nat ionlized banks By samad , Sales Executive/Officer, Vijaya

Support | Oppose 0 0 I agree with Bhupesh. By Atul Kumar, `Confidential, Confidentia l | 4 years ago Support | Oppose 2 0

Bank | 4 years ago Support | Oppose 2 2 I have no choice but to bank with the priv ate sector bank. My country is very small and there is only one national bank which do not have commercial facilities. Howeve r, all the privately owned banks have the modern conveniences. By Devi Kaladeen, Audit Manager, Health

I would prefer a nationalized bank. Bankin

Sector Development Unit | 4 years ago

g is an industry where security of money p lays an improtant role with accessibility. N ationalized banks like SBI, Canara Bank, P NB etc. have developed these well. Privat e has gone for beautifying the sites and pi oneering of technics. Anyway same faciliti es would be given by nationalized banks s ooner or later. Moreover, if we take a housing loan from private bank, say, if you wish to take a cop y of your original documents after a mont h or so, it would take about a week or a m onth in case of PSUs with the zillions of us getting more aware and more tech savvy.

private bank. Whereas in nationalized ban k, the documents would be available imm ediately then and there itself. This is beca use, the loan in a private bank is outsours ed and in nationalized bank, its by the bra nch itself by grant from head office. In private banks, newer and newer rules a re applied which are favourable for rich cl ass people only, but nationalized banks fo cuses on average nationals. like - some pri vate banks slap penalties if you approach a bank for more than 3 times in a month. etc. etc. By taranath joshi, DGM Operations, EOL , | 4 years ago Support | Oppose 0 0

Support | Oppose 1 1 Time Oriented results if any error occurs Customer support teams are good in priva te banks By Paresh.Khanchandani , FCD Business M anager, ExxonMobil Company India Privat e Ltd. | 4 years ago Support | Oppose 1 1

The public sector bank employees have a callous attitude towards customers. Our o nly hope is that they will change their pro I would faour antionalized bank:cesses after if they continually lose a good 1. Larger coverage amount of business to private sector ban 2. Competitive and upgraded services serv ks. So we must take our business only to p ices as Pvt. Banks rivate sector banks and hope that public s 3. Less risk factor (Accountability of Govt.) ector banks get the hint. Safe investment 4. Fare customer practices By Shahnawaz Islam, PR & Media Relation 5. Cost effective (Default charges, Min. Bal s Manager, National Institute of Smart Go ance, Cheque book, transaction fee etc) 6. Competitive Technological advancemen vernance | 4 years ago t 7. Changing mindset of working staff Support | Oppose By Nagpal Singh, Sales and Business Devel opment, Babel Group of companies | 4 y ears ago 2 0

I would like to bank with Private Sector Ba nks for the following reasons. Support | Oppose 1. The service provided by the private ban 0 ks is far better than the nationalised bank s. 1 2. Quick and satisfactory replies to your q ueries then you get in the nationalised ba Hi Devi, nk.\ You are wrong that there is only one Natio 3. The private banks are fully technology o

nalised banks. We have number of Nation alised banks in India. They are also very Te ch Savvy and have fast reach than any Priv ate Banks. Our country is far bigger than f ew developed countires and Indians are m ore money savvy nature for future. Thats why Banking in India is growing as rapid s pead. Private banks have brought the com pition on the services offer and the way c ustomers are served. Now the nationalise d banks has come on par with them.

riented which makes the work easier and f aster, whereas most of the branches of na tionalised banks are still to have a taste of technology. 4. As due to over competition the bargaini ng power order of clients increases where as the nationalised banks does'nt care

By Atul Kumar, `Confidential, Confidentia l | 4 years ago Support | Oppose 0 0 I am in favor of nationalized banking syste m. This is the best way to protect the inter est of mass of common people and provid e the required financial support to the nat ion. The major points which make if differ ent from Private Banks: 1. Money if safe for common low earning people. This is top most important for nati on like India where people are iof savy nat ure of their hard earn money. A protectio n is needed. In UK, all money deposited in any bank is safe upto 15000 pounds. India n government should take such steps to p rotect the money of common man from a ny froud/bank failure. 2. Nationalised banks invest money mostl y in India/national project only. They are n ot very profit oriented. They are more co mmitted to the national society than Priva te Banks. 3. Now the time has changed and most of the Nationalised banks are also Tech Savv y which helped them to server customers more friendly. 4. Natinalised banks have far better reach to remote people than any Private Banks. 5. Nationalised banks are accountable and government is involved to make sure the y don't faoul play with people money. Priv ate Banks can easly cheat people and run away with their money. Poor control by R BI and government. There are many other things which make t hem a better choice than Private Banks. T hey needs to more tech savvy and people friendly. By Atul Kumar, `Confidential, Confidentia

5. Young staff in private banks who are qu ick and agressive compared to the aged st aff in nationalised banks who are rather sl ow. For instance when you go to withdra w or deposit cash in nationalised banks th e time they take lot of time for accepting or giving cash even with the counting mac hines with in that time in a pvt bank empl oyee would have paid to 3 customers. By Darshil , CEO/MD/Director, Darshil Cot ton Company | 4 years ago Support | Oppose 2 0 In this computer age, nationalized banks a re far away behind the Private sector bank s. Still they are struggling to automate the ir processes. But is the large customer sup port they have gained before private sect or banks entering the banking segment w hich make them going till now. No doubt, we pay for the services private banks provide. But in new terminology we can say "A BANK is a friend Indeed when we are in need". ATMs and online transact ions have made life easy for the people of this computer age. ICICI Bank and HDFC Bank are the best exa mple to describe the development of the Private Sector Banks in India. They stand a lmost next to the biggest nationalized ban k of India that is STATE BANK OF INDIA. In a short span of time they have the biggest customer base. Therefore, I would rather prefer to go wit h private sector bank instead of a national ized bank. By Dinesh Raghav, Pre-Press Executive, Eli

l | 4 years ago Support | Oppose 0 0 As a common user, I prefer Nationalised b ank like SBI. No matter private sector ban ks gives more returns and interest includi ng better services than SBI, still risk is mor e there. When money is considered, I don' t take risk. There have been cases where u sers faced a lot of problem with private se ctor banks and complined different kind o f complains like money loss. Also about re taining the clients, I can say this from my personal experience with SBI.

Research | 4 years ago Support | Oppose

Nationalise bank's ATMs are more easily a vailable than private one's. By Anagha Thakur, Corporate Lawyer | 4 years ago Support | Oppose 1 0 Hello sir, I agree with you in every word of yours. W hat one can think in hard times? In the ph ase of recession it was the nationalized Ba nks who took the initiative to lower down the Interest rates followed by the Private banks. As far as the services are concerned Natio nalised banks are a step back, but they stil l manage. Banking is not only business its relationshi p. Whether small or big clients, Nationaliz ed Banks never discourage. One thing most of the population hates is the Loan processing time in Nationalised B anks. well they are more regulated and so precaution is necessary rather than creati ng NPA's. By Rahul Gupta, Auditor, V S Kankariya & Co | 4 years ago Support | Oppose 3 0 I appreciate your spirit, Devi. Some time before, a small clash started b etween drivers of two vehicles in MG Roa d at Bangalore. A third person was noting down both vehicle numbers. No one bot hered. However, the passenger of one of the cars, a foreigner, rushed to the person noting down the vehicle number and de

manded why is he noting it down? Most people outside India are very sensiti ve about law, adherence and violations. T o an extent, Indians are thick-skinned. I request all those in India to understand Devi and have an answer before confronti ng her with a thumbs down!! By SR Sham Sunder, CEO/MD/Director Tec hnoaid | 4 years ago

Support | Oppose 1 0 I go along with with the PSU banks becaus e we all know that banking is all about rel ations. In private banks the employees churning i s very high and so whwn you open an acc ount, there is a different employee and lat er a new one, while in the PSU the employ ees have a long term commitment, ahich us useful to the bank and the cuatomers... By Japan Shah, H.O.D, Oxford School of M anagement | 4 years ago Support | Oppose 2 0 I agree with Sham Sunder's detailed & ana lytical view point and Samad for his views on service & security. Most peoplem, me i ncluded, rushed to the private and foreign banks. But after so many years, I find the standards of these private banks falling an d on the other hand, the public sector ban ks seem to be shaping up well. Most of th eir processes are well in place and so is th eir technology implementation. Once they get their customer service systems in plac e, I forsee a lot of customers going back to public sector banks.. me included. If you have ever taken a home loan or a ca r loan you will appreciate the transperanc y of a public sector bank, and also even th ough if one has never taken a car loan, he could still get beaten up by the goons of t hese private banks, just because some of t heir over-worked staff made a mistake. Is that efficiency or customer care? While o n the surface they may seem to offer bett er service, but you are more likely to get s

tone-walled in a private bank than a publi c bank. By Ajay Wadhwa, CTO/CIO, PCCPL | 4 yea rs ago Support | Oppose

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