What are the latest additions made to the banking sector?

There have been the creation of specialised outfits for varied processing units. Our objective is to enhance our services to provide customers with nothing short of the best. We are working towards core banking platform a concept, which would mean a networking of different branches to facilitate customers to transact from any of the branches spread all over the country. The customer is given more flexibility in terms of transacting business and operational facility as he can avail the benefits from any branch spread across the country.

How may the services be improved further?

The creation of a single unit, which would house all facilities will be of a great help to all customers. Working at national level and interlinking of all the branches can prove to be quite helpful in the long run. Further the concept of convenience banking, where branches would remain operational for all seven days of the week could be yet another way for technology-backed outfits to make banking a pleasurable experience for the customers.

What is the procedure to apply for education loans?

Generally, we give education loans for technical and other vocational courses. The borrower?s profile is taken into consideration and once the candidate gets his admission papers, he can immediately apply for a loan. Within three days, all different parameters are looked into and an amount up to Rs 4 lakh may be sanctioned depending strictly on the fee structure of the course concerned. For studies abroad, an amount up to Rs 15 lakh can be granted. As far as the repayment goes, the time period is 60 months starting either six months after finishing the course or the day one gets a placement, depending on whichever happens earlier.

Saswati Mukherjee