ESSEN MANAGEMENT SERVICES PVT. LTD.

Head office : 22, Industrial Area, Phase-2, Mumbai 400092 (India) Phone : (91) 28648 942 Fax- (91) 28643 436 E mail- info@essenindia.com

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Date: 13th March 2012. The Board of Directors, XYZ Bank Ltd, Prabhadevi, Mumbai 400 050. Re: Surprise visit to Branch no. 42 This is with reference to your letter dtd. 04/03/2012 appointing us for a surprise visit to ABC Branch to find out reasons for its poor performance over the last 12 months. A team of 4 visited the said branch on Thursday, the 10th of March, 2012. Our entry to the branch was at 11:00 hrs, till when the normal operations for the day should be up and running. All our staff was surreptitiously planted as normal customers, and identity was later revealed to the Bank Manager for further scrutiny of book and records. Punctuality: To our surprise, 8 of the 36 employees on the payroll had still not come in even though the reporting time is 08:30 hrs. 4 employees were late by around 30 minutes. Further to our astonishment, 4 persons did not even come in till 14:00 hrs. Also, after scrutinizing the attendance register, an average of 7 employees are late each day. Dress Code: The dress code of the staff was insensitive, with sleeves folded up of male staff and some of the staff wearing sandals instead of formal shoes. Also, a few women were wearing dresses, instead of sarees which is mandatory on a working day. Cash Counter: The policy of the bank is that the cash counter tokens are to be issued by the watchman. However, the watchman was careless and insensitive to such a requirement, and customers themselves were picking up tokens from the counters. Inquiry Counter: 2 persons are to be seated at the inquiry counter. However, only one employee was on her place and she too was glued to her newspaper, which is forbidden during the working hours. On inquiry by one of our surreptitiously planted staff, the response was inappropriate and rude. When asked about complaint book, the staff rudely replied that there is no such book, even though it is mandatory to have one at the branch. CCTV: 2 out of 4 CCTV cameras are out of order since 2 months. However, no effort has been made to set right this defect, nor the head office has been officially informed.

Waiting Customers: There was too much crowd at the branch. On close observance, we noticed that there was unnecessary wastage of time while disposing off matters at various counters. Lethargic behavior, taking ones own time and asking unnecessary questions to the customers were some of the reasons for wastage of their precious time of customers, because of which other customers are kept waiting in long queues. Conduct of staff: The general behavior of the staff was very casual, sluggish and rude. Disposal of Loans: As per the policy of bank, loan has to dispose off to the customers within 5 days of processing of application. To our dismay, we found 13 cases where disposal is pending even after the permissible time limit has expired. Records: When asked for random files, records and registers, the general answer that was given for those missing was that these have been shifted to the godown and soft copy is not available. Other remarks: There is lack of co-ordination and communication within the staff members, due to which effective service potential to the customer is hampered. Irresponsible behavior and ignorance to certain bank policies are some of the other problems.

You may contact us for any other details that you may require for the said engagement. We hope our report will be of value to you.

Yours faithfully, Sd/For Essen Management Services Pvt. Ltd, Mr. A. (Director)