Why today private banks are more reliable then government banks? - letsdiskuss
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Aditya Singla

Marketing Manager (Nestle) | Posted on | Share-Market-Finance


Why today private banks are more reliable then government banks?


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Financial analyst (Mudra finance company) | Posted on


In today’s busy life, people have no time to make out what’s right and what’s wrong. And in this scenario the faith and trust of people have shifted from government bank to private banks. In earlier times, people used to trust government banks blindly, but the changing times have changed the reputation of government banks as well. But this transformation is not without a solid reason. Some of which I’m mentioning.


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No wastage of time

What people always lack these days is not money, but time. Hence, they look for short cuts for everything. People, above all, are tired of government banks’ much bureaucratic way of dealing with public, making them take rounds of the whole bank –one counter to another and even then, they find their work nowhere nearing the completion. Private Banks don’t have such ways of working.

Accurate information

You never get correct, let alone accurate information when it comes to government banks. In fact, you are even unable to figure out who is the right person to contact is so many laid-back employees. On the other hand, anyone would help you in getting the correct and accurate information easily in private banks.

Working capacity

Government is most famous for its bureaucratic nature of working. Delays are the most expected and unsurprising element of any government office, so how can government banks lag behind? Getting their salary directly from government, government employees have no fear of a displeased employer or an unsatisfied customer. Private Banks on the other hand, function four times faster and more efficiently than government banks.

Policies:

No policy reaches the account-holder on time in government banks. No government policy is implemented in these banks unless and until government employees wish it to be implemented. Private Banks are always on their toes and keep all the account-holders updated of the new policies through SMS or phone calls. Even the minutest change or implementation is reported in private banks.


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