Tamilnad Mercantile Bank (TMB), among the fast-growing private sector banks, has broken away from its peers and set a new model for building new business, expediting recovery of bad loans and improving customer service.
It aims to achieve this by reclassifying the second and fourth Saturdays of the month, currently notified bank holidays in line with a government order dated August 1, 2015, as full working days from the September 1, 2017.
‘STRATEGIC BRANCHES
The newly declared working Saturdays are valid only for the specially denoted ‘strategic branches’ (109 in number as on date), an internal circular issued yesterday and seen by BusinessLine said.
This will come into effect from September 1, 2017, the first such Saturday being September 9, 2017, the circular said.
Only selected staff members, a maximum of one-third depending on the size of the branch, and jewel appraisers will work on the second and fourth Saturdays.
Staff who work on these Saturdays would be given compensatory leave within 15 days from the day of work.
Branch heads have been directed to ensure that these staff members exhaust the compensatory leave within these 15 days.
Branch heads at the strategic branches have been told to maintain a separate register to capture the details of the staff who worked on these Saturdays and the compensatory leave availed by them.
BUSINESS DEVELOPMENT
The regional managers will personally handle the strategic branches and ensure that the new system functions properly and also ensure that the extended working days are exclusively utilised for business development.
Apart from the strategic branches, other offices of the bank will not function on the second and fourth Saturdays, at least for now.
However, if they fall on holidays declared by the Central/ state governments under the Negotiable Instruments Act, 1931, through gazette notifications, the branches in the respective states have to adhere to the law. Therefore, on those days, the branches will not function.
The circular assigns the following functions that could be carried out in the branches on the second and fourth Saturdays:
1. Accepting cash from the customer for credit of loan/ deposit accounts
2. Permitting cash withdrawals over the counter to customers
3. Opening various types of deposit accounts
4. Accepting applications for opening SB accounts
5. Accepting cheques for collection
6. Granting jewel loans to customers
7. Granting loan on deposit to customers
8. Locker operation by customers
9. Issuing DD/ local draft gift cheques
10. Any other service which can be rendered over the counter
OTHER SERVICES
Apart from providing services to customers, staff members may use the working day for cash replenishment in ATMS, delivering ATM cards and cheque books to customers, following-up loan accounts for instalments, and preparation of credit proposals.
The bank’s IT department shall provide the necessary technical support to the strategic branches.
Strategic branches have been advised to ‘actively and wholeheartedly engage themselves and serve customers as well as the general public in an enhanced way’ to bring in more business.
The list of services offered, working hours of the branches, and the information to customers that the branch will remain open on the second and fourth Saturdays are to be displayed prominently.