There is a lot of talk about the private banks coming to the state. They are coming with so much of fanfare. But they all will leave with the same speed with which they have arrived. The public sector banks would continue to enjoy the trust of the common man or the public. At least this is true with the State Bank of India.

In my opinion, there is a basic difference of objective between private and public sector banks. While they (private banks) are totally commercial in nature, we are fulfiling our social obligations, as well, besides our commercial business.

Private banks do not have these obligations.

The other difference is that while we are into mass banking, they are into class banking. There is no disputing the fact that they are using the latest technology in banking.

They are the first generation banks. But their services are restricted to metros and other big cities only This is, however, not the case with public sector banks. Take for example our State Bank of India which has many branches in rural areas where there is no proper infrastructure, no roads and no electricity. But yet we are providing banking services to the rural people.

While we are serving a bigger population, their services are limited to a smaller one.

The general perception that private banks are coming to Jharkhand with a bang is wrong. If you come to any of our branches you can see the huge rush of people, indicating the popularity of the public sector banks. That kind of rush is not seen at private bank outlets.

While their services are restricted to the corporate segment, we are offering a wide range of services—from individual financing and car loans to housing and education.

But I do agree that the private banks are making their foray into the state with the latest in technology. And I think, that is a challenge for us. However, when it comes to the competence of our staff, ours are more competent and skilled. Private banks cannot challenge us on this front.

We are making all our efforts to meet the challenge to upgrade the technology to meet the challenges. We are going in for massive computerisation. Sixty four per cent of the total 209 branches in the Ranchi module (excluding Bhagalpur) have been computerised. Most of the urban branches, too, have been computerised.

Besides, computerisation of branches at all levels, we are also opening many automated teller machine (ATM) outlets. Incidentally, SBI was the first to open a ATM in Ranchi in 1992.

At present, there are ATM outlets in all major cities of Jharkhand like Ranchi, Jamshedpur and Dhanbad. Many more are in the offing.

All ATMs will be connected to important Indian cities.

While we go in for massive computerisation and latest technology, we will remain committed to our social obligations. In order to keep the employees abreast with the latest technology we hold training sessions for them.

They are the first technology bank, but yet we have the goodwill and trust of a large number of people, which we have developed over the years with hard work, sincerity, dedication and spirit of service.

Private banks are not new in Jharkhand. Many banks had opened their branches in Jamshedpur a long time ago. For Ranchi, private banking is definitely a new phenomenon.

These banks see this state as prospective market.

There are many of public sector banks. But the services of most them are very poor. Customers are not treated properly in these banks.

There is a lack of professionalism. Moreover, transactions in those banks are very slow and therefore, it’s very time consuming banking with public sector banks.

Private banks give much importance to customer service. Our service is at par with the international standards.

We use the latest technologies which is faster and convenient. Moreover, our ATM have country wide accessibility which is not the case with the public sector banks. It is because of the latest technology which make us ahead with the public sector banks. We are the first generation banks.

It is nor fair to say that we are only focussing on urban areas. The fact is that 25 per cent of our branches are located in semi urban areas.

We are also having networking tie-ups with banks which have greater reach in rural areas like Corporation Bank, Dena Bank and West Asia Bank.

Private banks have introduced new concepts in banking. For example, our bank has introduced a new concept in internet banking—on-line access for personal banking which has been made possible by the bank’s investment in advanced technology solutions for this venture.

Its improper to say that private banks only cater to the needs of the corporate segments.

These days they are focussing more on retail banking. This way, they are fulfiling the social obligations.

We are also giving the facility of housing and vehicle loans. This proves that we are well aware of our social obligations. We will try to improve ourselves further in future.

It is also wrong to say that the services of private banks are restricted to the corporate segment because we are offering a wide range of services.

For example, IndusInd Bank offers a comprehensive suite of personal, corporate and NRI banking products and services.

Under personal banking we offer savings accounts, current accounts, employee comfort accounts, salary advances, personal loans, flexi-deposits and a host of other banking services. Corporate banking consists of current account, term finance and cash credits.

The services given by private banks can be availed round the clock. Our interest rates are competitive.

Private banks stress more on customer care. We give efficient service to our customers.

Our employees are polite and courteous. Transactions are completed in shortest possible time. At present we are fast moving ahead because of latest technology. But we realise that the public sector banks will acquire this technology.

Then they may come at par with private banks.

At present, we are focussing on services and customer care because that will be the real area of competition.