Bank Staff as it is, were under severe work pressure even before the introduction of demonetisation. Demonetisation, cash exchange and short cash supply have worsened their position even further. Since November 8th banks are mainly grappling with how to manage the long queues, unmanageable crowd and irate customers. Most of their time and energy is used up in the demonetisation exercise leaving no time to do their core banking / commercial activity. A new directive / instruction comes every other day bringing in some changes in the existing arrangement or a new thing introduced. All these initiatives which are coming fast and furious have left the staff high and dry. All these have rubbed salt into the wound.
What can be done to mitigate the hardship?
Some stray thoughts:
1. Roll back the business hours of bank to the earlier 2.00 pm or 2.30 pm.
Why?
The government/RBI is determined to push the economy towards Cashless or less cash, digitisation etc, and even a cap on cash transactions may also be a reality sometime in near future. Under these circumstances keeping the cash counters open for a long time during the day is not required or warranted.
Benefits:
The scarce man power can be better utilised and there will be a considerable relief to the staff manning the front line. It releases quite a good amount of time to engage the staff in other banking activities like monitoring /recovery of NPAs etc.
2. Introduce mobile ATMs on the lines of mobile libraries.
This will reduce the footfalls at the branches. It's a win win situation for both the customer and the bank.
3. Introduce and increase the number of non cash branches. Not all bank branches necessarily do cash transactions. Because "cash is no more the king".
The disruptive technology that is engulfing the banking has brought about a metamorphosis of sorts.
Banking is no more the same anymore. Introduction of payment platforms like paytm, SBI buddy, wallet banking, mobile banking, Internet banking etc, have rendered the conventional/traditional cash dispensing counters at the bank redundant.
4. Introduce 5 day week at the earliest. Bank employees really need a two day week end. We have no time for personal life, family life and social life. All along, slogging in the Bank late hours and early hours.
5. Introduce branch managers allowance.
Nowadays heading a branch could be a nightmare. Although no amount of monetary incentive could compensate the ordeals a branch manager undergoes - something is better than nothing.
The bank job has lost its charm/sheen it once enjoyed. Moreover the job market provides abundant opportunities for the young and skilled people. And the salary structure in the banks is a great dampener.
All the above mentioned suggestions if given a serious thought and implemented might mitigate the hardship of the Banker. It also attracts good talent to banks. Otherwise left overs, residuals in the job market will end up joining the bank.
And State Bank has to survive at least another two centuries.
K.N.Krishnan. 9449612446; 9449841375
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