Catholic Syrian Bank: A Dedicated Finance Institution
Indian banking sector is incomplete without addressing the needs of rural India. The Catholic Syrian Bank was established as a result of the Swadeshi Movement, in 1920 at Thrissur , and has 80% of its operations in semi-urban and rural areas of India, with more than 75 percent clientele from weak economic backgrounds. Though through the first 20 years of its functioning, the bank concentrated its operations only in Kerala, it presently has 364 branches spread all across India.
The Catholic Syrian Bank takes seriously its activities on the Corporate Social Responsibility front, and has started many specialized schemes for providing financial services to small scale industries, entrepreneurs, agriculture workers and road transport operators. On the other hand, the bank is expanding its investments in capital market and money market. Also giving priority to research, the Catholic Syrian Bank is working towards an in house equity research wing. Apart from these, it provides all banking and finance services like Deposits, Credit Services, NRI services, RTGS, NEFT, International money transfer, Insurance, Internet and Mobile banking etc. along with saving schemes for student support and social support.
As a fast growing institution, the Catholic Syrian Bank takes its commitments to its customers very seriously. The Catholic Syrian Bank Customer Care is diligent in providing quick and efficient service to all clients. As the bank has a large base of rural and semi urban customers, it places high priority on a fair Grievance Redressal Policy. An elaborate code has been established to handle all complaints against Catholic Syrian Bank. The voluntary code aims at maximizing customer satisfaction without compromising on the supervisory and regulatory instructions laid down by the Reserve Bank of India. The code in fact supersedes the expected code of conduct, and helps the bank maintain a high standard of service by the bank to the customers.
The bank’s staff is highly trained in explaining to customers all products and services, explaining procedures for filing complaints in case of dissatisfaction, and handling complaints in an appropriate manner. Catholic Syrian Bank Complaints can be filed online, or in any of the branches. There is a Standing Committee on Customer Service to ensure proper execution of bank policies, chaired by the CEO of each branch. There are nodal officers appointed in every branch to deal with any grievances that have not been completely resolved by the customer care officers. Every complaint has a time frame within which it has to be resolved, and in case of failure of the bank to do so, the customer is given full information and support in taking the complaint further to a designated authority in regional or zonal offices.
In order to expeditiously resolve customer complaints, the bank has structured monthly meetings with customers to minimize complaints arising due to lack of awareness of the bank’s policies and services. With all such measures, the Catholic Syrian Bank has made a name for itself in customer satisfaction and is escalating rapidly in the Indian financial service sector
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