you ventured into engineering since you loved the idea of problem

solving and your sound background in Mathematics. Moreover, engineering is

considered as a good
option to a secure career. But with the current economic conditions, banking offers a
better secure
career option than working for some engineering firms.
An investment bank is a financial institution that assists individuals, corporations, and
governments in raising financial capital by underwriting or acting as the client's agent in the
issuance of securities (or both)

On the inaugural day, a record 1.5 crore bank accounts were opened across the country, the
largest such exercise on a single day possibly anywhere in the world.

Unveiling the scheme within 100 days of forming the new government, Modi said, it will cover 7.5
crore people by January 26, 2015.

Here is looking at Five important features of the PM Jan Dhan Yojna

1. Under the scheme, account holders will be provided zero-balance bank account with RuPay
debit card, in addition to accidental insurance cover of Rs 1 lakh.

2. Those who open accounts by January 26, 2015 over and above the Rs1 lakh accident, they
will be given life insurance cover of Rs 30,000.

3. Six months of opening of the bank account, holders can avail Rs 5,000 loan from the bank.

4. With the introduction of new technology introduced by National Payments Corporation of India
(NPCI), a person can transfer funds, check balance through a normal phone which was earlier
limited only to smart phones so far.

5. Mobile banking for the poor would be available through National Unified USSD Platform
(NUUP) for which all banks and mobile companies have come together.

FLEXIBLE If we don't change, we don't grow. If we don't grow, we aren't

really living.
I had to show great flexibility when undertaking my degree.abhk.2511

Flexibility involves:

adapting successfully to changing situations & environments

you ventured into engineering since you loved the idea of problem
solving and your sound background in Mathematics. Moreover, engineering is
considered as a good
option to a secure career. But with the current economic conditions, banking offers a
better secure
career option than working for some engineering firms.
Keeping calm in the face of difficulties
Planning ahead, but having alternative options in case things go wrong
Thinking quickly to respond to sudden changes in circumstances
Persisting in the face of unexpected difficulties
Anticipating & responding positively to changing environments
Ability to adapt to change positively in response to changing
circumstances
Taking on new challenges at short notice.
Dealing with changing priorities/workloads

What many banks struggle with today is too many branches. A second
problem is that the branches follow a very transactional model. This costs the
bank money and creates complexity, but it does not bring in revenues.

The problem can be traced back to when the decision was taken to open the
branches. Banks often neglected to study the demographics, competition, and
environment around the branch. They rushed to open branches to be present
as markets grew. Second, they did not put the right people in place to run the
branch. The role of the branch director is really important: it requires business
knowledge and a feel for customer value creation. But banks often chose to
put a junior person in charge and to staff the place with people who behave
more like postal workers than customer service staff. These decisions were
taken hastily as banks grew but they have consequences for many years.

With on-line services, some banks think they dont need physical presence.
This is a mistake. Just closing down sends a bad message to the market, and
you lose the opportunities you can get from face-to-face contact with the
customer. Its better to try to make the branches more profitable. So, how can
you do that? There are a lot of different elements to look at:

1. Segment Customers
First, segment your customers between the mass market and more affluent or
wealthy individuals. Focus on providing efficient, streamlined services for the
mass market. Focus individual time on building relationships with affluent
customers. Build trust with both segments.

2. Organize to Deliver
you ventured into engineering since you loved the idea of problem
solving and your sound background in Mathematics. Moreover, engineering is
considered as a good
option to a secure career. But with the current economic conditions, banking offers a
better secure
career option than working for some engineering firms.
Optimizing costs is about having the right branch in the right place.

Dont open too many branches, or open in too sparse areas. I believe you
need about 2000 customers per branch to make it profitable. Below that,
there is a financial gap on the direct costs.

Then you have to organize to service your customers. If you have too few or
too many staff, it doesnt work. Mass market customers need to be served
quickly and efficiently, and driven to on-line channels whenever possible.
More of your staff time should be spent building relationships with and selling
to affluent customers. Its vitally important to spend the right time on the
right customer. Limit time for customers who are not profitable.

I dont believe back office functions should be in the branch. Branches should
be lean, only focused on service and sales to customer. Centralised marketing
services should help people in branches with customer segmentation, leads,
existing and new customers. Dont leave them to handle this on their own.
Centralised marketing should be all about supporting branch sales.

Centralised services should also provide lots of training to branch employees.

3. Deliver Great Service! (at least, stop

delivering bad service)
Banks are so bad at customer service compared to many other industries. I
never saw a bank that felt like Singapore Airlines. With competition so
intense, how can you afford to give such bad service? The good news is that
there is a golden opportunity to differentiate from competitors by being
better. Service excellence really will make the difference. Strong word of
mouth, good recommendations, if your customers are happy they will bring
new customers.

Not only do customers hate bad service, but your service people hate the
processes imposed on them, and the customers feel it. Often there are
inflexible performance criteria and wrong-headed incentives behind bad
you ventured into engineering since you loved the idea of problem
solving and your sound background in Mathematics. Moreover, engineering is
considered as a good
option to a secure career. But with the current economic conditions, banking offers a
better secure
career option than working for some engineering firms.
service. Banks have to teach people to be excellent in service and flexible and
smart about how they approach customers.

Your people need to be selected, trained, and managed to give consistently

high quality service. Branch employees often see their jobs as purely
transactional. This is a waste of time, money and opportunity. Transactions
can be handled on-line, or at least more quickly in a face-to-face situation.

Why do customers have to go to main branch for certain services? Why are
computer systems so slow? Why are 20 signatures needed to approve a new
account or loan? Slow systems and slow processes kill profitability and make
employees and customers angry. Technology that does not show the full
extent of the customer relationship also misses opportunities to provide better
service, better advice, and to sell and cross-sell more.

4. Move from Hard-Sell to Advisory

Services
Sales Advisory is also vital to profitability. Everybody in the bank should be
trained on sales training. Service staff can cross-sell easy products, but more
complex projects need a salesperson, and it cant be done in the bank queue.
You have to go to specialisation, and you work with a leads process within the
branch. Service people and even salespeople should be incentivised to pass
leads to the appropriate colleagues.

Salespeople tend to be reactive, waiting for the customer to contact them.

They sit with nothing to do during slow times and rush during busy times,
providing inadequate service. Salespeople should be proactive with customer.
Take the lead contacting them and scheduling appointments to give better
service and create more sales.

Create a sales plan, be proactive about finding new customers and cross sell
to existing customers. Close monitoring of use of time, schedule, need to
make sure you have a number of meetings with right customers leads to more
sales.
you ventured into engineering since you loved the idea of problem
solving and your sound background in Mathematics. Moreover, engineering is
considered as a good
option to a secure career. But with the current economic conditions, banking offers a
better secure
career option than working for some engineering firms.
This should be supported by a leads process, from centralised marketing and
from front desk service people or on-line channels.

Build redundancy and back-up into your customer relationship management.

Each account manager needs coverage while on holidays, ill, or busy. You
need to capture customer data so the customer doesnt have to explain a
situation each time to a different person. The back-up person should also be
known to the customer. Transition if there is a new service person taking over
some clients. People like to have someone they can trust and tell the whole
story to.

Finally, set meaningful KPIs for sales and service results. Monitor them
closely, hold regular meetings to discuss results and how to improve on them.
This is normal in customer-focused industries - more banks should adopt it!

5. Balance your Channel Mix

You need to get the right channel mix between physical and virtual.
Transactions are best handled virtually. Mass customers with mainly
transactional needs should be driven to remote channels. Wealthier customers
should be invited into banks and provided high quality advisory services.

You still have to meet the needs of customers in all segments who prefer
branches (for example the elderly), but you need better time management in
meeting them. Dont forget they also have family and friends who are also
your customers, so you really have to treat them well if they are not
comfortable with on-line services..

6. Optimize Physical Space

Some branches are too big, with too many people and too much unused
space. Customers dont like huge branches.

Others are too small. When I first came to Citi Handlowy in Poland, they had
too many small branches. They were so transactional there was not even a
place for customers to sit down, losing opportunities to do real business. If
you ventured into engineering since you loved the idea of problem
solving and your sound background in Mathematics. Moreover, engineering is
considered as a good
option to a secure career. But with the current economic conditions, banking offers a
better secure
career option than working for some engineering firms.
you can do only one thing to reorganize your physical space - reduce the floor
space for transaction to create a space for advisory services.

If you have the luxury of opening new branches in new locations, do it right!
Dont open too many. Do your due diligence, get your locations right and
understand the demographics of the area you are serving, the mix between
mass and affluent. Organize the branch accordingly. Also consider where you
are placed relative to your competitors.

Visibility is important to the branch in general. Customers need to see it, it

needs to be mid sized. Not too small, it has to be comfortable enough to
provide space for services, privacy for wealthy customers.

Provide security. Customer wants to feel safe and discrete, especially walking
into a private bank. You need some luxury but you need discretion and
security. You can offer extra services to customers, but it should not be visible
from the outside.

Try to create a standardized look among branches that people can recognize.
This is good for brand recognition.

7. Get the Right People

It is vital to have the right branch manager. Too often, banks put junior
people with transactional mindsets in charge. They are cheaper, but they do
not lead to profitability. Branch managers need to be experienced, with
business development and service excellence mindsets. Even if they dont
know that much about banking at first, they can fix this. Its hard to change
mindset, though.

Next, the branch manager needs to be involved, in the branch, meeting the
customers, see what is going on, constantly coaching people in right direction.
Central services should not go around the branch manager, for example, to
train employees. They should work with the branch manager.
you ventured into engineering since you loved the idea of problem
solving and your sound background in Mathematics. Moreover, engineering is
considered as a good
option to a secure career. But with the current economic conditions, banking offers a
better secure
career option than working for some engineering firms.
Change your staff if you need to. Do your bank employees behave more like
Singapore airlines, or more like post office employees? You need open and
friendly people with standards of service excellence. They need to know how
to develop business.

8. Manage Change
You need to implement change management, because we are talking about a
long history and strong culture, it will be hard to change. In some markets,
you cannot fire people. But you can incentivize the right behaviour, even if
this is sometimes difficult in high tax markets. In emerging markets, its hard
to hold onto your people, much less impose change. But this is changing.

Again, the branch managers role is all-important. She or he has to provide

leadership and make the difference. His or her role has to be more business-
focused. Coaching, incentivizing, pressuring people to change, focusing on
customer, focusing on business model, profitability.

A lot of banks say they want change but dont stick to really implementing
change. While you are being slow and inept, one of your competitors may
figure out how to jump ahead of you. Why not jump ahead of your competitor
first?
- See more at: http://www.mce-ama.com/Making-Your-Bank-Branch-Network-Profitable/#sthash.poFRfLmB.dpuf

now a days all BFSI projects are recruiting Banking experience candidates and also, every bank need SME s. Banks are
sanctioning the loan after verification and valuation of project, Without engineering back ground it is not possible to
evaluate the project.

what is po?

A Probationary Officers post is the entry to the most coveted managerial positions in the banking
industry. A P.O. starts as a trainee officer in the Junior Management Grade Service (JMGS) of the
you ventured into engineering since you loved the idea of problem
solving and your sound background in Mathematics. Moreover, engineering is
considered as a good
option to a secure career. But with the current economic conditions, banking offers a
better secure
career option than working for some engineering firms.
bank and can rise to the highest grades of the bank in his career becoming a General Manager, a
Director or even the Chairman of the Bank.

Better banker?

Sir, engineering not only developed my technical skills but also my
analytical ability. In engineering I organised many events and so it has
given me a leadership quality also. It also developed my
communication skills. So I think due to engineering, I have that quality
in me that I can provide better customer service