After intense introspection over its falling market share, it is Parivartan (change) time for the country?s largest commercial bank, State Bank of India.
Speaking to FE, Narayana Raja, chief general manager, Mumbai circle, said the bank is keen to shed its public sector image when it comes to customer satisfaction and for this it has launched a nationwide programme called Parivartan for attitudinal change of its entire 1.85 lakh employees below the rank of assistant general managers.
To be completed in 100 days, the soul searching programme also traces the alarming rate at which it has been losing market share year after year, making change and transformation almost imperative for survival in a market which is only going to get more open and competitive year after year, he explained.
The two-day programme also candidly informs all employees the state of the bank today ? how in almost every area, from deposits, advances and profit growth, to business per employee, profit per employee, return on assets, reduction in NPAs, etc, the bank is trailing its public sector and private sector peers. ?It is a first step to transforming into a customer-friendly, business focused, modern bank from a conservative, control oriented bank; from a hierarchial, bureaucratic bank, from a laid back approach to a fight back approach from old outmoded processes to customer oriented new processes.? he said, adding that the training programme shows how entities like Indian Railways and IBM have successfully turned around after facing crisis.
The programme was even previewed to the presidents and general secretaries of both associations and unions from all 14 circles, who, Raja said, were appreciative of the contents ? many claiming that this initiative should have been taken 5 to 6 years ago.