Executive summaryWith a view to cater the seasonal financial requirements for agriculture & other allied activitiesat state level, The Rajasthan State Co-operative Bank Limited (RSCB) was established ®istered under Rajasthan Cooperative Societies Act on 14th October 1953. It is an Apexinstitutions of the District Central Cooperative Banks (DCCBs) functioning in the state. Thegovernance of village level Primary Agriculture Cooperatives, District Central CooperativeBanks RSCB is ensured by elected board through a democratic election system under TheRajasthan Cooperative Societies Act. Willingness of Cooperative banks to adopt SHG concept as “Social banking withprofits” and its interest in trying innovation. Bank should provide adequate incentives to theirbranches in financing the Self Help Groups and established linkages with them, making theprocedures absolutely simple and easy while providing for total flexibility in such procedures tosuit local conditions. With micro credit, loan amounts are reduced and lending methods are adapted to acceptthe collateral and reimbursement capacity of disadvantaged clients, thus giving them access tofinancial resources, a valuable tool. 1. 2. 3. 4.
5. 6. 7. 8. INTRODUCTION OF INDUSTRY1.1 The Housing Finance and Development ScenarioPre-Independence ScenarioTaking up records of the bygone century, it is notable that the deficit-housing problem inIndia was not so aggravated till the first half of the century. Census records reveal thatin 1901, there were 55.8 million houses for 54 million households, which means thatthere were 1.8 million surplus houses. This surplus continued till 1941. But then a phasecame, where this surplus turned into a deficit to 1.7 million, in correspondence to 64.3million houses for 660 households. The maximum surplus period between 1911 to 1931was because, many urban centre during the period were affected by plague and faminewhich caused death on a large scale, resulting in households to grow slowly, leavingenough room for house construction to cope with the household growth.The Second World War (1939-1945) totally changed the situation. Labourers’ migrationwas seen to the towns to work in factories for producing ammunitions and other warsupplies. During this period, there was a scarcity of labour and materials for housingconstruction. After the War, many labourers continued to stay in urban centers andadding pressure on the housing situation. This became the initial turning point towardshousing requirements.The situation continued and aggravated in 1947. In the wake of the partition of thecountry about 7.5 million of displaced persons migrated into India and Pakistan. WithIndia achieving independence and taking a giant leap in terms of progression andindustrialization, improvement of health facilities and the death rate coming down andthe considerable growth in population and the influx of job seekers into urban India,mounted up pressure on the housing problem. By 1971, the ratio of total number of
households to the number of houses was 100.4/90.7 million, taking up the deficit to 9.7million.The Present ScenarioDespite considerable investment and efforts over successive Plan periods, the housingproblem continues to be daunting in terms of the large number of homeless households,rapid growth of slums and unauthorized colonies, spiraling prices and rents of land andhouses, rampant speculation, deficient availability of water, sanitation and basicservices top bulk of the population and the increasing struggle of the poor andvulnerable sections to secure affordable and adequate shelter. The housing shortagewas estimated by the National Buildings Organization in 1991 to be about 31 millionsunits, composed of 20.6 million in rural areas, and 10.4 million in urban areas, with; thebulk of the backlog consisting of “kuchcha” unserviceable units.By 1997 the total housing shortage came down in the country and was estimated to be13.66 million units, out of which 7.57 million units were in the urban areas. More than90% of this shortage was for the poor and the low-income category. The rapid growth ofurban population and its concentration in 300 cities with a population exceeding 0.1million started showing congestion and overcrowding in small houses, leading to steadygrowth of slums, informal settlements and severe pressure on the civic services. Thepopulation explosion and cross migration further led to the inadequate supply ofaffordable housing by public & private sector, the acute shortage of funds of thedevelopment of settlements and extension of city level infrastructure. This has beenaggravated by institutional deficiencies of housing agencies and local bodies, andinsufficient attention to the shelter needs of the poor.Future ProspectsIt is estimated that by 2012 and with the current rate of growth in population, Indiawould require at an average of 2.5 million to 3 million additional dwelling constructionsannually. Presently, only a meager 20 % of Indias new housing units are financedthrough formal housing finance institutions, although there is a remarkable prospective
to augment the figure of home credit. With Government’s timely intervention housingfinance on its own has become a major industry in India. With the semi government andnationalized Banks, the private sector too has shown a tremendous interest in the race.With various plans to suit one’s necessity and with attractive interest rates, thesehousing finance institutions offer most attractive finance options for home seekers.1.2 The National Housing BankTo give a boost to the housing scenario in India and to narrow down the marginbetween the housing demand and the availability of houses, the National Housing Bankwas set up in the year 1988. This was done by keeping in mind that a home seekerthough does have a desire for a house but lacks the resources for construction orbuying it, hence to give an enhancement to private housing finance institutions theNational Housing Bank came into the existence. NHB has emerged as a principalagency to promote housing finance institutions both at local and regional levels whileproviding financial and other support to such institutions. It is important to keep in mindthat the National housing Bank itself does not give loans or finance individuals or aparty as such but it is only a corporate body to promote, establish, support or aid thehousing finance institutions.The housing finance institutions can be segregated into three categories namely PublicSector Financial Institutions, Banks and Private Sector Financial institutions.Public Sector Financial InstitutionsThere are a no. of financial institutions working in the field of housing finance:-HUDCO (Housing and Urban Development Corporation Limited): HUDCO is aninfluential Government of India Enterprise. Its main aim is for funding state governmentsfor infrastructure development and intends to surface as the only organization of its kindfor dealing with the needs of shelter and infrastructure development in the humansettlements.
LICHFL (Life Insurance Corporation Housing Finance Limited): LIC Housing FinanceLtd. is one of the leading and oldest home funding organizations, which offers one ofthe finest services in the trade. It has branches all over India. It offers variety of loanslike housing finance for new purchases, re-constructions, renovations, NRI housingfinance etc. Some of the schemes that LICHFL offers are the Griha Shobha which is forNRIs, Griha Sudhar where one can apply for a loan for renovations and repairs inexisting houses.GICHFL (General Insurance Corporation Housing Finance Limited): GIC HousingFinance Ltd., a company from the house of General Insurance Company is alsoemerged as a strong housing finance institution in the recent years.PNBHFL (Punjab National Bank Housing Finance Limited): A subsidiary of the PunjabNational Bank, PNBHFL offers the Apna Ghar Yojana for construction or buying ahouse. It also offers the Ghar Sudhar Yojana for renovation or repair of house or flat. Ithas home loan facilities for NRIs and Line of Credit Facilities for companies to giveloans to their employees for construction or renovation of a house.SBIHF (State Bank of India Housing Finance): SBIHF offers loan for construction andrenovation of houses.BanksMost of the Banks through out India provide housing finance, except a few smallbranches. The major Banks being Bank of Baroda, Bank of India, Bank of Maharashtra,Bank of Punjab, Canara Bank, Cooperative Banks, Citi Bank NA, Corporation Bank,Dena Bank, HSBC, ICICI Home Finance, IDBI Bank, IndusInd Bank, Lakshmi VilasBank, Punjab National Bank, SBI (State Bank of India), UCO Bank, and many others.Private Sector FinanceAXIS HOUSING FINANCE Ltd.: The Bank has a very wide network of more than 827branches and Extension Counters (as on 31st March 2009). The Bank has a network of
over 3595 ATMs (as on 31st March 2009) providing 24 hrs a day Banking convenienceto its customers. This is one of the largest ATM networks in the country.HDFC (Housing Development Finance Corporation): With the objective of augmentationof housing through the requirement of housing finance, HDFC Bank was established in1977 with the support of the Industrial Credit and Investment Corporation of India, theInternational Finance Corporation (IFC) in Washington and the Aga Khan Fund. TodayHDFC Bank and Housing finance are synonymous. The maximum loan HDFC Bankoffers is 85 per cent of the cost of the property whose repayment is on a monthly basisin equated monthly installments spread over a period of 5 to 20 years.DAXISL (Dewan Housing Finance Corporation Limited): Dewan Housing FinanceCorporation Ltd. is also one of the preferences in private housing finance sector. Since1984 in the market, today it has 22 branches all over the country. Union Bank of Indiahas obtained an equity involvement in DAXISLs capital composition. It is interesting tonote that DAXISLs shares are listed on Mumbai, Delhi and Ahemdabad StockExchanges. DAXISL offers a Double Protection Plan in form of Free Accident RiskCover + Property Insurance to the extent of the loan liability to safeguard the interest ofthe borrower.GAXISL (Global Housing Finance Corporation Limited): GAXISL a syndicate of reputedbuilders, incorporated in June 1994, offers Individual Home Loan Scheme and HomeImprovement Scheme.Oriental Bank of Commerce as one of the leading nationalized Banks also participatesin the equity of the company.BHFL (Birla Home Finance Limited): BHFL offers Easy Title for registration of theproperty or land purchased. Easy Upgrade loans for renovation of the existing house,which has been purchased or constructed at least one year ago. The renovation can bein the form of flooring, tiling, plumbing, paint, polish, etc.
Maharishi Housing: Maharishi Housing Finance Corporation Ltd., a company fromMaharishi Group started in 1997 catering to home loans.1.3 Other Players in the Housing Finance MarketThe Union government, in order to endorse endowment for increasing housing deliveryall over the country has approved 31 new housing finance companies to accelerate thenational housing program. The list of 31 housing finance companies which were giventhe go ahead nod by the government include Andhra Bank Housing Finance, BOBHousing Finance , Canfin Homes , Cent Bank Homes Finance, CorpBank Homes,GRUH Finance , GLFL Housing Finance , Happy Home Profin Limited , HousingDevelopment and Finance Corporation , Home Trust Housing Finance , Ind BankHousing , LIC Housing Finance , Live well Home Finance Limited , National TrustHousing Finance , Orissa Rural Housing and Development Corporation , ParashwanathHousing Finance Corporation , PNB Housing Finance , Peerless Abasan Finance ,Saya Housing Finance , Vyasa Bank Housing Finance , Vijaya Home Loans , VI BankHousing Finance and Weizmann Homes.It is interesting to note that Tata Homes Finance Ltd., and Birla Home Finance Ltd.,Reliance Industries and GE Capital have joined the housing finance providers race. Aboost to the housing finance industry can push up the Indian economy scenario in alarge scale. Housing has a tremendous tendency to create income and insist forresources, tools and services.Various housing finance companies have their own set of offerings as far as housingloan interest rates in India are concerned. There are a variety of housing loans availablein India which includes:-□ Home Purchase loan□ Home Construction loan□ Home Extension loan
□ Existing Home Improvement loan□ Land Purchase loanINTRODUCTION TO ORGANIZATION A Co-operative bank is an autonomous association of persons united voluntarily tomeet their common economic, social, cultural needs & aspiration.It is a jointly owned and democratically controlled enterprise organized and operated undercooperative principles.Cooperative Banks in IndiaThe Co operative banks in India started functioning almost 100 years ago. TheCooperative bank is an important constituent of the Indian Financial System, judging bythe role assigned to co operative, the expectations the co operative is supposed to fulfill,their number, and the number of offices the cooperative bank operate. Though the cooperative movement originated in the West, but the importance of such banks haveassumed in India israrely paralleled anywhere else in the world. The cooperative banks in India play animportant role even today in rural financing. The business of cooperative bank in theurban areas also has increased phenomenally in recent years due to the sharp increasein the number of primary co-operative banks.Co operative Banks in India are registered under the Co-operative Societies Act. The
cooperative bank is also regulated by the RBI. They are governed by the BankingRegulations Act 1949 and Banking Laws (Co-operative Societies) Act, 1965.Cooperative banks in India finance rural areas under: · Farming • Cattle • Milk • Hatchery • Personal finance Cooperative banks in India finance urban areas under: • Industries • Self-employment • Small scale units • Home finance • Consumer finance • Personal finance Apex Bank (Rajasthan State Cooperative Bank Ltd.)
With a view to cater the seasonal financial requirement for Agriculture & other alliedactivities at the level, The Rajasthan State Cooperative Bank LTD.(RSCB) wasestablished & registered under Rajasthan State Cooperative Societies Act on 14th Oct ,1953.It is an apex intuition of the District of village level Primary Agriculture CooperativeSocieties, District Central Cooperative Banks functioning in the state .RDCB is ensured by elected board through a democratic election system under TheRajasthan Cooperative Societies Act.RSCB has successfully completed more than five decades of services to the state ofRajasthan in general and to the rural and farming community in particular.In Rajasthan, RSCB has converted its regional offices into regional branches andpresently Udaipur and Jodhpur branches are catering the financial needs of DCCBsituated in their area of operation since financial year now Kota, Bikaner &jaipur.Regional branches are also providing short- term agricultural loans to DCCBssituated at head quarter in their respective area of operationRSCB has successfully completed more than five decades of services to the state ofRajasthan in general and to the rural and farming community in particular.The bank has shifted its new Head-Office premises at Tonk Road Jaipur. The bank wasestablished to provide short term agriculture loan for agricultural, rural development, non-agricultural loans, employment oriented schemes and short term loans. The bank has an image atnational level and it has been honored several times.
APEX BANKRSCB being one of the good cooperative banks opened its branch at Jaipur on 14thOctober 1953. Jaipur is a big market of jewels import export and with new opportunitiesof business and personnel growth this fact was noticed by the organization and finally abranch of RSCB was inaugurated by Chief Minister Vasundra Raje. Branch is nowworking efficiently and has a good deal of investments.Branch is located AT Tonk Road which is one of the most suitable areas for suchorganizations. The bank address isHead OfficeRegistered office and Group Head OfficeLal Kothi,DC-1,Tonk Road Near Nehru Place, JaipurBranch Office- Jawahar Nagar,CC 212, Gola Market, Jaipur- C-Scheme J.D.A Complex,Ahinsa Circle, Jaipur- Barkat Nagar,Sharma Store Lane- Tonk Phatak, Jaipur- Nehru Bazar,22/32/01 Jaipur- Malviya Nagar,A-87, Shivanand Nagar,
Near Kailgiri Hospital, Malviya Nagar, Jaipur Introduction of CorporationHistorical Background50 years constitute an important milestone in the growth and progress, as much in thecase of an individual, as of an institution. The Rajasthan State Co-operative Bank Ltd.(RSCB)can look back with satisfaction about the contribution it has made for the improvement in thequality of life in the rural areas. progress is a continuous process without a full stop. Bi-centenary celebration should also provide an occasion for drawing up a road map ofdevelopment for the years to come, say, at least 20 years, if not 50 years. A quick glance through the published figures regarding the financial position of the RSCBfrom 1953-54 to 2002-03 indicates the following: 1 The share capital has gone up by 700 times. 2 The reserves have gone up by about 19000 times. 3 The growth of deposit has also been equally phenomenal from a small Rs.36, 000 to Rs. 992.00 crores. 4 Similarly, outstanding loans have gone up from mere Rs. 25,000 to Rs. 1,111.00 crores. 5 The working capital,which was less than Rs.6.00 lacs,has also gone up to over
Rs.1,970.00 crores. 6 The profit from Rs. 1,000 has gone up to over Rs. 15.00 crores.financial picture also reflects some specific years, which constitute turning points. Forinstance, the loans outstanding in 1968-69 were almost double what they were duringthe previous year. In 1974-75, there was a two-fold growth compared to 1972-73.During 1980-81, the loans outstanding crossed Rs.100.00 crores marks.Network In order to achieve the objectives of the Cooperatives, an extensive network isavailable to cater the need of rural masses at their doorstep with a three tier short-termcooperative credit delivery system. At the Apex level, Rajasthan State Cooperative Bank (RSCB) with its 5 Regional & 8 local branches in the State. At the District level 29 DCCBs covering 32 Districts of the State having 390 branches. At the grass-root level 5255 PACS which covers 100% of the geographical area of the state, i.e., 41353 villages. Out of total 53.64 laces cultivators in the State, about 42.27 laces are the members of PACS/LAMPS, of which 21.36 laces are borrowing members of the societies.
MissionThe corporate mission is to become a strong and competitive cooperative bankingnetwork which offers innovative financial products along with varied range of service toserve rural masses with rejuvenated short-term cooperative credit structure to serve thepeople of Rajasthan.Vision cater with both the rural and urban sector and to become a bank which can establishnew RSCB envisages itself to become a bank which will be able to standards. PRIORITIES
1 by the To issue Kisan credit card to all eligible farmers.2 To increase the borrowing membership up to 21 lacs end of March 2008.3 To inculcate thrift habits in rural areas by mobilizing rural savings through PACS(Primary Agricultural Cooperative Credit Societies) and branches of DCCBs.4 To implement personal accidental insurance scheme covering borrowers and customer of cooperative sector.5 To release farmers from the clutches of money lenders by providing cheaper and timely institutional credit.6 To increase investment credit to farmers to create/enhance capital formation in the state.7 To support state Government’s efforts to implement the revival package for short- term cooperative credit structure.8 To bring about technological changes in the short-term cooperative credit structure.9 To enhance corporate image of cooperative banking in general and Apex Bank in particular.
Deposits 1400 1305.84 1300 1198.17 1200 1139.26 1100 1000 900 2004-05 800 700 2005-06 600 500 2006-07 400 300 200 100 0 2004-05 2005-06 2006-07Objective of the BankAccording to Bye-laws main objectives of RSCB are as under 1 To promote the economic interest of the bank in accordance with cooperative principles; 2 To receive money on current/various fixed deposits or other accounts and to raise or borrow from time to time such sums of money as may be required for the purpose of the bank. 3 To grant loans to cooperative institutions registered or deemed to be registered under the act and other members enrolled as per provisions of the Bye-laws; 4 To lend money or grant overdrafts to, or open cash credit for, depositors and members of the bank’s staff on the security of:Fixed deposits,Government securities, andOther securities approved by the Registrar, also grant clean overdrafts to depositors,who are at least nominal members according to the rules framed by the board
5 To serve as a balancing center for all-cooperative bank and societies in the state;6 To undertake inland exchange business by collecting or discounting bills of exchange and hundies or to issue demand drafts. The discounting of bills shall be for those who are at least nominal members according to rules framed by the board;7 To receive for safe custody securities, ornaments and valuables;8 To open branches where necessary in its area of operation9 As federal organization, its play leadership role by providing consultancy, guidance and technical support to its affiliates. GOALS OF THE FUTURE (2008-09)1 Disbursement of Rs.1300.00 crores loan under short term Agriculture loan.2 Disbursement of Rs.70.00 crores loan under Investment Credit (Agriculture & Non Agriculture).3 Attain the level of Rs.1350.00 crores in deposits of the Bank.4 Attain the level of Rs.2200.00 crores in total loan outstanding of the Bank.5 Attain the level of Rs.3200.00 crores in the working capital of the Bank.6 Computerization of All Branches of the Bank.7 To open a new branch in Jaipur city.
OTHER ACTIVITIESCREATING INNOVATIVE FINANCIAL PRODUCT FOR THE POORESTOF THE POOR (SELF HELP GROUPS):Under the micro-credit system promoted by short-term cooperative credit structure inthe state, the DCCBs/PACS have been playing the role of facilitators to organize selfhelp groups of homogeneous class to address their common socioeconomic needs bypooling their resources to make available small interest bearing loans to their members.The process helps them to imbibe the essentials of financial intermediation includingprioritization of needs, setting terms & conditions, accounts keeping and buildingfinancial discipline by handling of a size beyond their individual capacities. Thesegroups are graduated to be linked with DCCBs/PACS. So far approximately 16000SHGs have been linked with DCCBs/PACS and an amount of Rs. 4709.21 lacs hasbeen advanced to SHGs up to 31.3.07.PERSONAL ACCIDENTAL INSURANCE SCHEME:Personal Accidental Insurance Scheme has been introduced in the state through DistrictCentral Coop. Banks with an objective to provide financial security to its loaneemembers, customers, Depositors &staff members at a nominal premium against theaccidental losses. During the year 2006-07 and 07-08 (1-1007); 10.71 lacs loanee KCCholder and staff members were insured and an amount of Rs. 74.99 lacs was remittedto the Insurance Company against which 74 claims have been settled.CROP INSURANCE SCHEME:State Govt. has launched crop Insurance Scheme from Kharif crop, 2003 under whichprescribed crops in the notified area are being insured. As insurance premium ofRs.2251.24 lacs for kharif crop, 2006 and Rs.1300.26 lacs for Rabi crop during the year2006-07 has been remitted to the insurance company. Due to failure of crop, claims of
Rs.10214.50 lacs for kharif, 2006 crop and Rs.2380.65 lacs for the Rabi. 2007-08 cropwere paid to the affected farmers. HIGHLIGHTS AND IPSO-FACTO YEAR 2007-08 v RSCB registered an annual growth of 0.99 percent in earning net profit. v RSCB registered an annual growth of 2.34 percent in own fund. v RSCB registered an annual growth of 8.47% in advances. v RSCB registered an annual growth of 15.135 in working fund. v Cost of Management of RSCB reduced to 0.25% which is far below the norms prescribed by Reserve Bank of India. It is also lowest amongst State Cooperative banks in the country. v The level of recovery against demand stood at 98.22%. v Per employee productivity was to tune of Rs.10.58 crores and per branch business was Rs.218.82 crores. v RSCB has established India’s first currency chest in the cooperative sector in its Nehru Bazaar Branch, Jaipur. v RSCB has been awarded at national level by NAFSCOB for its performance in the year 1994-95, 1996-97, 1997- 98, 1998-99, 2000-01, and 2001-02 to 2002- 03. v RSCB is the playing dividend regularly to its Shareholders and maximum dividend permissible as per Cooperative Societies Act,i.e, 10% was paid during the year 2000-01 to 2002-03, 8.35 & 8.85% during the year 2003-04 to 2005-06 respectively.
ole of NABARRD also known for its SHG Bank Linkage Programmed which encourages 1. Serves as an apex financing agency for the institutions providing investment and production credit for promoting the various developmental activities in rural areas 2. Takes measures towards institution building for improving absorptive capacity of the credit delivery system, including monitoring, formulation of rehabilitation schemes, restructuring of credit institutions, training of personnel, etc. 3. Co-ordinates the rural financing activities of all institutions engaged in developmental work at the field level and maintains liaison with Government of India, State Governments, Reserve Bank of India (RBI) and other national level institutions concerned with policy formulation 4. Undertakes monitoring and evaluation of projects refinanced by it.NABARDs refinance is available to State Co-operative Agriculture and RuralDevelopment Banks (SCARDBs), State Co-operative Banks (SCBs), Regional RuralBanks (RRBs), Commercial Banks (CBs) and other financialinstitutions approved by RBI. While the ultimate beneficiaries of investment credit canbe individuals, partnership concerns, companies, State-owned corporations or co-operative societies, production credit is generally given to individuals.NABARD has its head office at Mumbai, IndiaNABARD operates throughout the countrythrough its 28 Regional Offices and one Sub-office, located in the capitals of all thestates/union territories. Each Regional Office[RO] has a Chief General Manager
[CGMs]as its head, and the Head office has several Top executives like the ExecutiveDirectors[ED], Managing Directors[MD], and the Chairperson. It has 336 District Officesacross the country, one Sub-office at Port Blair and one special cell at Srinagar. It alsohas 6 training establishments.NABARD is Indias banks to lend to self-help groups(SHGs). Because SHGs are composed mainly of poor women, this has evolved into animportant Indian tool for microfinance. As of March 2006 2.2 million SHGs representing33 million members had to been linked to credit through this programmer. Organizational Setup Presently power of Board of Director are Vested in Administrator who is appointedby the State Government. The Chief Executive Officer of the Bank is designated asManaging Director and is an officer drawn on deputation from State Govt. One GeneralManager and 5 Dy.General Managers are there to assist M.D in day in daymanagement .The bank has 5 departments at HO level which are: 1. Administration &Personnel (A&P) 2. Operation (Opr.) 3. Planning & development(P&D) 4. Accounts & Finance (A&F) 5. Inspection & Supervision (I&S) 6. Training.
2.6 7P’s Of APEX BankPlace: - In the dynamic market of housing loans the distribution channels and theincreased penetration has emerged to be new mantra of success. The APEXBANKhasrealized that and is offering the housing loan counseling at the doorstep of customerthrough its DSE s, also AXIS BANK is trying to exploit some innovative distributionchannels like builders and property brokers who can direct their customers towardsAPEXPromotion: -This is the weakest link in the whole chain, although APEX BANKis tryingto educate the customers about the various kinds of services available in this sectorthrough property fair etc, it is not doing things at pace fast enough to meet therequirements of market.Price: - Although APEX BANK offers the highest interest loan in the market but still it isone of the major players in the market, the reason being APEX BANK wants todifferentiate itself over service level provided, moreover it does not involve itself in shortterm gimmicks like waving the processing fees but instead charging the interest for theone extra month by starting the installment late, while such practices are very commonin the market among competitors.Physical environment: -APEX BANK tries to project itself as customer caringcompany, so the physical environment is designed accordingly, there is always enoughspace to sit and relax, the furnishing is good and there are no physical barriers between
the employees and the customers that is the desks of frontline employees do not haveraised physical barriers.Process: -The processes OF APEX BANK are scientifically designed and the paperwork requirement is made clear to the customers in the beginning itself, as soon as thefrontline staff gets all the documents, the file of customer moves in a sequential way, isevaluated by the technical staff and finally the loan is processed in as short time as 24hours.People: -The service perception is largely formed by the customer based on themoments it interacts with its frontline staff, the organization make sure the staff iscourteous polite and helpful to customer thus enhancing the brand value of APEX