Re: [prpoint] ICICI Bank Crisis - Why their PR is not raising the trust of the public?

Dear Mr. Srinivasan
You have touched on a very relevant point, the lack of humane touch. I am a customer (unfortunately) of ICICI and have gone through their whims and fancies in these years. More than anything they are arrogant, and the fact that most of their services are outsourced to 'authorised agents', no one has a clue what is going on where.
The bank might be having a stable base and may be the undisputed leader among the private sector banks but its credibility among the customers has been eroded. The staff has half baked information, reeks of arrogance and treats the customer as if we are obligated to bank with them.

I had some issue with my home loan repayment, when the bank started sending me letters of a couple of default payments, when I asked for the detailed statement, they send two sets with totally different EMI amounts. In the meanwhile, 'representatives' of the ICICI bank started calling and harassing, saying if the amount (which was 12,000 odd Rupees) is not cleared they would seal our house. (Where do you find logic in such a statement) After much haggling and running around it was discovered that the bank had not deposited two EMI post dated cheques! Matter closed. If the bank has to regain its confidence, they should seriously look into establishing a one to one relationship with the customers rather than leaving them at the mercy of their 'authorised agents'.

Regards,
Amitabh

----- Original Message ----
From: s krish <krishalpha@yahoo.com>
To: prpoint@yahoogroups.com
Sent: Friday, 3 October, 2008 21:13:57
Subject: Re: [prpoint] ICICI Bank Crisis - Why their PR is not raising the trust of the public?

Dear Mr.Srinivasan It was an interesting point you have touched about the Indian bank and ICICI Bank. I have an account with both the banks and I notice the difference in service level with ICICI superior to the level of service offered but is also vulnerable for poor service at the other extreme as a mistake undetected has a spiraling effect for example, I once received 3 cheque books and once was without a cheque book for unduly long, bank was unable to explain.The moderate but customer friendly approach of Indian Bank staff is missing with the young vibrant target oriented ICICI employees who are more system oriented than people oriented The staff at Indian bank see you more and talk to you more than a staff at ICICI who deals with tokens, numbers and activities than people. I am looking forward to more views frommembers which is interesting to note with best wishes and warm regards S.Krishnamurthy www.alphabeticstrai ning.com Ph. 91-44-28156170 Mobile. 9884278542 --- On Fri, 3/10/08, V Jagannathan <v_jagannathan@ yahoo.com> wrote: From: V Jagannathan <v_jagannathan@ yahoo.com> Subject: Re: [prpoint] ICICI Bank Crisis - Why their PR is not raising the trust of the public? To: prpoint@yahoogroups .com Date: Friday, 3 October, 2008, 7:39 PM Hi,   Indian Bank is govt. bank- in other words people's bank. It has a long tradition and has touched the public in many ways. It is not profit or cost minded.   On the other hand one has read in news papers about the thugs sent by the ICICI Bank for recovering their loans. There has been court cases as well that went against the bank for employing such unlawful means.   Government banks or other government companies may not know slick PR and they lack interacting with public. But they will openly suggest what is good for the customer. Those who have put fixed deposit in a PSU bank would know this.   The same cannot be said of private sector banks.   Jagannathan --- On Fri, 10/3/08, Prime Point Srinivasan <prpoint@gmail. com> wrote: From: Prime Point Srinivasan <prpoint@gmail. com> Subject: [prpoint] ICICI Bank Crisis - Why their PR is not raising the trust of the public? To: "Prpoint Group" <prpoint@yahoogroups .com> Date: Friday, October 3, 2008, 6:41 PM dear friends The recent ICICI bank crisis has brought forth some lessons. After the US Financial crisis, in India,  ICICI bank has started facing lot of crisis.  In some of the states, people rushed to the ATM to draw the money and the Bank managed the crisis situation well by providing adequate funds at ATM centres.  Also they quickly, brought Finance Minister and Reserve Bank of India in the loop.  They also gave a testimonial in favour of ICICI Bank to reduce the panic situation.  In the market, their shares have come down to the lowest in the past one year.  The business deal by ICICI bank with Lehman Brothers was only a business transaction and not involving any ulterior motive.  All along Lehman Brothers was a giant and when they fail, ICICI bank is getting affected.  In spite of all the PR exercises, the perception of the people have not improved.  I see lot of messages circulating in groups and blogs against ICICI Bank.  Though, ICICI Bank has done PR to fire fight the crisis, the perception of the customers or stakeholders are not that good.  Even their share prices have gone to the bottom.  As an ex-banker, i personally agree that ICICI is one of the stronger  banks in India (even better than some of the nationalised banks).  Still they are not able to develop the trust and faith in them.  A similar incident happened to Indian Bank in 2000.  Indian Bank is a public sector Bank.  During 2000, the Bank was suffering huge loss on account of indiscreet loans granted.  There was a CBI enquiry and some of the senior management officials (including the retired chairman) were arrested.  It was a big news then.  At that time, Confederation of Indian Industry (CII) submitted a report to the then Finance Minister, recommending closure of Indian Bank. When the news got flashed on the TVs, there were big queue infront of all the Branches of the Bank for withdrawal of the cash.  At that time also RBI came for rescue and the staff members were working round the clock to pay the cash. The story does not end here. The entire customers, spontaneously, got angry against CII and they supported the Bank fully. (though the bank was running under huge loss).  All the media started reporting about how Indian Bank had helped to develop the agricultural sector and middle class for housing loans.  The MPs in Parliament stalled the proceedings, in favour of Indian Bank.  Ultimately, CII has to come openly and apologise for their report and withdrew their report. Today, ICICI Bank is the second largest bank in India, next to SBI with large number of customer base.  Why inspite of all their PR efforts, they are not able to mobilise the public support, like Indian Bank.  To my knowledge, Indian Bank was never doing any good PR.  But when they were facing crisis, the people came for their support spontaneously and forced the media also to write editorials in favour of the Bank.  Even Indian Bank Management at that time, got surpirsed over the spontaneous response of the public in their favour. In other words, the customers of Indian Bank and even general public, felt that any damage done to the bank was affecting them.  Over a period of time, Indian Bank had institutionlised the 'faith and trust' of  their  customers. Why the new generation Banks like ICICI are not able to muster the public sympathy.  Is the PR or the so called 'relationship banking' done by them only superflous? I personally feel that any organisation, should touch the life of the people and the people should perceive the organisation as part of their life.  Then they will come for the support of the organisation at the time of crisis. Without any professional communication or PR what Indian Bank could achieve  in 2000, why ICICI Bank is not able to achieve with all the PR and communication professionals around them? Has ICICI Bank failed to 'touch' the life of their well wishers and customers? At the time of crisis, we need some thing more than PR and Communication, to develop trust and confidence? Can members share their views? Srinivasan Moderator 9444050273

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