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special featureTimelinessThere is an old saying that “time and tide waits for none”!This is particularly true in today's setting when everybodywants every thing at the so-called “lightening speed”.Bank customers are no different. Therefore, any bestpractice should, first and foremost, specify the time limitsfor its various services (if not all, for the basic bankingservices) and monitor regularly that the norms areadhered to by the ultimate service providers.Explaining Terms and ConditionsThe second most important requirement is that whetherthe service providers explain the terms and conditions(including the so-called “fine prints”) to the customersbefore rendering the required services. Gone are thedays when banking used to be a sellers' market; it is abuyers' market today. Moreover, since our country hasoperationalized the Right to Information Act, customershave the rights to ask the bankers the intricacies of termsand conditions before availing of a product or service.Cases of unhappy customers abound in credit cardsegment because of the 'communication gap' betweencredit card companies and credit card holders. Housingloan is yet another case in point.Exuding TrustBanking means trust. Against this backdrop, thebanker should behave with the customer in such away that he exudes confidence and trust in the mindof the latter. The bank personnel must be trainedin Behavioural Science/s, particularly in soft skills andbusiness etiquette. It should appear that one is the wholeand sole provider of solutions to the eager customer whois sitting in front of him. A decade or two back these didnot matter, but today they do.Exclusive AttentionNext item in the “best practices” is paying exclusiveattention to one's customer. Today, everybody lovesexclusivity. One should not go away or indulge inconversation with fellow colleagues in the middle of atransaction with the customer. One should pay undividedattention to his customer. One should generate a feelingthat he is there because the customer is with him. Oneshould call the waiting customers one by one and shouldnot allow a congregation around his desk. Moreover,since the time at one's disposal is limited, he candifferentiate the customers according to their needs andattend to them at various times and in various ways. Forinstance, some customers may not be willing to come tothe branch, for them one can arrange home banking,tele-banking, etc. Some may be willing to come to thebranch, but not stand in the queue to withdraw money, forthem one can have, drop boxes, ATMs, etc.Use of ComputerToday's workers have been usurped by computers.The general feeling among the customers is that a manmay be incorrect, but a computer cannot be. Therefore,one must be tech-savvy and while transacting businesswith the customer should preferably be telling himthe required details from a computer. Today's customertrusts the computer more than the banker. One shouldalways be in a position to give computerized statementsof accounts, documents, etc.OmbudsmanThere should be adequate mechanisms for redressalof grievances quickly at bank level and beyond. BankingOmbudsman is a part and parcel of our financialarchitecture. Looking at the exponential trend inwhich banking population especially in urban / metroareas is growing, the number of Ombudsmen in thecountry should be reviewed from time to time.Moreover, Banking Ombudsmen should not be yetanother place for parking retired government or bankservants; it should be a position for rather young,agile persons who can take decisions quickly withoutbureaucratic hassles.Banking Codes and StandardsHaving a code of conduct for banking services isa very essential requirement for any world classcustomer service. In our country, the Banking Codesand Standards Board of India is not only meant forretail customers but also small and medium enterprises.This signifies that we are having world class standards.Motivating Customers to use Technology ProductsAs far as customer service is concerned, bankersshould be extroverts. They should go out to disseminate18October - December 2011The Journal of Indian Institute of Banking & Finance