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special featureCaring different customer segmentsAll the pension disbursals have been centralized whichtakes care of accurate and timely credit. Separate countersare opened for senior citizens in large branches especiallyon pension payment days to convey the message thatBank cares senior citizens.Free collection and remittance facilities to blind,physically handicapped, disabled individuals andinstitutions are set up for their benefit. No servicecharges are collected from freedom fighters on collectionof pension bills and cheques. Instruments favouringPrime Minister's or Chief Ministers relief fund arecollected free of charges. Demand drafts issued intheir favour are also issued free of cost. Freecollection of outstation instruments favouring seniorcitizens, pensioners in rural branches up to `5,000/-representing pension. Concessions to students areoffered for purchase, cancellation of DDs for purchaseof prospectus, application form and payment ofexamination fee. Concession in service chargesare given to widows, aged persons, pensioners receivingpayment instruments. At par collection, remittanceand custody of wills are provided to defence personnel,ex servicemen, paramilitary forces and CISF personnel.Cash deposit charges are exempted in rural andsemi urban branches for depositing in savings accountetc. The guarantee fees and annual service fees ofmicro and small borrowers under MSE segment paidto CGTMSE for obtaining cover are shared by bankon 50:50 basis. Disposal of applications under MSMEare done in 7 days at branch level though RBI timelimits are on a higher side. A quick turnaround timeof 5 days for home loan and 2 days for vehicle or twowheelers loan are adhered to for better customerservice. Female education borrowers enjoy 0.50%interest concession and simple interest is chargedduring moratorium period of education loanees.Bank is creating human capital by offering concessionalrate of interest to students seeking admission to selectprofessional institutes which include IIMs and ISB. Aquote from Mr. Nalin Srivastava, Director Operations atISB Hyderabad- “I have not seen such promptness andhelpfulness anywhere in the world”.Continuing the journeyBank has aspired to become the number one retailbank in customer service excellence. The aim is toachieve this by delivering consistent customer serviceacross touch points through an engaged and motivatedfrontline staff supported by simple processes that arefast, accurate and efficient. The following initiatives aspart of transformation journey are being undertaken.Re-modeling of branches to offer better customerservice through efficient processes, empoweredstaff and automation.●Improving operations at call centre and alternatechannels to provide an effective alternate touch pointto our customers, and thereby allowing branches tofocus on customer service.●Strengthening the customer grievance cell to resolvecustomer complaints and systematically eliminatethe root causes of complaints received across allchannels.●Steps are being taken to train employees throughcustomized courses and delivered through an innovativeapproach. A world class customer intelligence unit isbeing created that will enable a 360 degree view ofcustomers and support business teams through high endcustomer analytics and customer life cycle managementtools. A change management programme is being drawnto help scale up Nav Nirman initiatives.A recent study on India's most customer friendlybanks by outlook money and TNS during October-December 2010 reports Union Bank of India standsat number 5 with only two PSUs ahead of it on thebasis of 17 attributes like customer service, quick andhassle free complaint resolution process, well trainedstaff etc. The bank stood first on parameter “a companythat has a strong focus on innovation” and secondon parameter “does not try to hard sell any productthat consumers do not want”.A customer perception survey was recently conductedby Indian Council for Market Research (ICMR) inassociation with Banking and Finance Magazine (BFM)in five cities across India-Delhi, Mumbai, Kolkata,Chennai and Bangalore with sample size of 3500The Journal of Indian Institute of Banking & Finance October - December 2011 31