Or let me rephrase, why do you think the image of PSU banks is so bad among the 20-40 age groups?
Partly gaslighting, partly prejudice.Or let me rephrase, why do you think the image of PSU banks is so bad among the 20-40 age groups?
2 reasons -Or let me rephrase, why do you think the image of PSU banks is so bad among the 20-40 age groups?
Very true.2 reasons -
1- Leveraging Technology:
At the start of a career, (20-25 year old) when the NRV of the individual is low, non PSU banks will still go out of their way to acquire them as customers.
Branch level service may not necessarily be any better but better usage of technology makes the need to visit a branch less frequent.
2- Better Segmentation
As said individual progressed through his career and the NRV with the bank increases, PSU banks won’t do anything beyond what they used to do earlier.
Non PSU banks will go out of their way to keep said customer happy - through additional perks , doorstep service etc
PSU banks are backed by the govt so you will never lose your money with them. MAIN point. This I would say is their only saving grace and the reason they are still in business today.As much as people tend to curse PSU banks, they are the reason why India's economy is still under control and thriving. Otherwise, there would be frauds and cases of funds misappropriation every other day.
Big doubt on that. There is some max amount like 5L per account insured. Rest is gone. Besides they have the bulk of NPAs due to lending to ministers families and friends and not getting anything back in return.PSU banks are backed by the govt so you will never lose your money with them. MAIN point. This I would say is their only saving grace and the reason they are still in business today.
Few moments when minister too correct:
Sitharaman is heard slamming SBI chief Rajnish Kumar for SBI’s failure to operationalise bank accounts of Assam’s tea garden workers, in purported audio clip.theprint.in
Her government is pushing for these ridiculous KYC requirements.The finance minister, it could be gathered from the purported conversation, was upset that 2.5 lakh bank accounts belonging to tea garden workers in Assam had become non-operational due to a lack of acceptable Know Your Customer (KYC) requirements.
That's like calling Titanic unsinkable.RBI declared SBI, ICICI Bank and HDFC Bank as Domestic Systemically Important Banks (D-SIBs) or institutions which are 'too big to fail'.
In RBI's lingo, too big to fail doesn't mean it can't fail, it means it can't be allowed to fail.That's like calling Titanic unsinkable.
We all know what happened to Lehman Brothers and Evergrande when they were called too big to fail.