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SBI management mulling working Sundays to improve efficiency
MDT/PTI 27 August 2012

Being open on Sundays is said to help bank branches attract the new-age working class customers where both the spouses in a household work and struggle to do banking transactions during the week

 
Mumbai: State Bank of India (SBI) may have its branches open on Sundays to help improve efficiency, reports PTI quoting a top bank official.
 
"Possibly we would like to see Sunday working which would increase the time available for doing banking and increase the business," bank chairman Pratip Chaudhuri told analysts on a conference call organised by the brokerage firm Edelweiss Securities.
 
The country's largest bank had last year taken everybody by surprise by opting to keep all its branches open on 2nd October to compensate for a day's business loss due to a technical snag.
 
The bank management was happy with the foot fall and the staff turnout at the branches at that time in spite of it being a Sunday as well as a national holiday - Gandhi Jayanti.
 
Notably, many private banks, which control only a minority share in the banking operations, do keep their select branches open on Sundays for customer convenience, even though technologies like internet banking have reduced the need.
 
Being open on Sundays is said to help the branches attract the new-age working class customers where both the spouses in a household work and struggle to do banking transactions during the week.
 
SBI, which has almost 14,000 branches across the country, counts on its large chunk of savings account deposits (at over 38%) for higher margins.
 
SBI had carried out widely appreciated 'Parivartan' programme in early part of this decade, which helped it stay relevant in changing times and maintaining lead in the market.
 
During the call, Chaudhuri said the costs incurred on developing physical infrastructure and network does not hit the bank as much as staff costs.
 
In order to improve efficiency, it will therefore try to delegate routine responsibilities currently done by officers to the low cost junior employees, he said.
 
Comments
TIHARwale
1 decade ago
in pre Computer days bank branches in Delhi had weekly off coinciding with weekly market off day because Police was finding bank branches functioning on days when local markets in residential areas were closed were targeted for robbery/dacoity. but SBI and Chairmen of PSB's should understand in computerised environment branch functioning hardware like UPS play an important role. Hardware vendors normally don't attend breakdown calls on Sundays then what happens. Branches have many officers and clerks but normally only one security guard with arm's license , so when Armed Security Guard will have weekly off - Zonal Office heads and Executive in Head Office never apply thoughts on this . The CMD,ED, Zonal Heads never care to know about these issues. i can vouch from experience in those times TV serials like Ramayan, Mahabharat ( Oct 1988 onwards) were telecast around 10.00 to 11.00AM believe it customers used to step into branches around 11.30AM inspite of fully knowing that branches function for half day 10.00AM to 2.00PM with public dealing restricted during 10.00AM - 12 Noon only and transactions used to be just 10% of what it was on normal days. today with availability of ATM,Net banking etc there is no need for Sunday Banking , rather Saturday half day puts severe strain on City Pocessing Centres as clearing window duration is compressed where as work load remains like any normal week day. in Janakpuri (near TIHAR) SBI is having a specilised Personal Banking retail branch which works on Sunday with Tuesday weekly off ( i understand SBI has 6 such branches in Delhi) but here also transaction load is just 5% of what is on weekdays. SBI CMD may not know if u keep branch opened at midnight daily atleast one customer will visit the branch to withdraw Rs 100/- so why not keep branches open 24 hours so that SBI can render customer service.
Reply
Adi Daruwalla
Replied to TIHARwale comment 1 decade ago
Very good thoughts on Hardware etc. Also I again endorse that there is no need for Sunday working or 24 hrs working. People have a life and need to destress from routine by getting their weekly offs. Also with new fundas like EQ emotional quotient and QT quality time,having changed the corporate thinking, they also need to bond with their familes as well, besides office colleagues and customers.
Reply
Adi Daruwalla
1 decade ago
"HOGWASH' If all emloyees at SBI worked their normal hours everyday with due diligence one would not need to work on Sundays. This is a joke !! The Management must ensure proper training, proper electronic attendance devices that are fully functional, and customer centric approach in all their divisions. No Sunday working is required. The people who need to implement the same should not tamper with the properly set systems.
Reply
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