By Thinkman · April 12, 2008
Everyone I heard were boasting regarding the awesome services provided by the private and foreign banks and how the Nationalized banks do not care that much. I was caught by surprise when I did not notice a big variation in the experience I had. The nationalized banks actually provided better service for my needs.
Private banks are funded by private businesses or foreign companies and follow rules and regulations stipulated by the RBI (Reserve Bank of India).
Nationalized banks are sponsored by the government — public sector banks governed by the RBI.
There were certain rules that were rigid and annoying in private banks, and fees that do not exist in nationalized banks. ATM availability was also notably better with nationalized banks in rural areas compared to urban areas.
| No | Quality | Private Bank | Nationalized Bank |
|---|---|---|---|
| 1 | Professionalism in support | Very professional | Semi professional |
| 2 | Time consumption | Short to too long | Consistent — not too short, not too long |
| 3 | Approach to customers | Robotic | Humane (varying) |
| 4 | Relationship | None | Very personal |
| 5 | Online experience | Good | Ok |
| 6 | Attitude | Progressive and fast | Conservative and slow/steady |
| 7 | Customer preparation requirement | Less | High |
