He was speaking at a programme on urban cooperative banking organised by Mapusa Urban Cooperative Bank of Goa at Mapusa.
“The situation in the market today is ‘Perform or Perish’ and this demands a drastic change in all managerial functions and processes. So many cooperatives demand a drastic surgery to perform in the current climate,” he said.
“In the first place, the managements of urban cooperative banks have to become professional. Professionally streamlining the fund management system of cooperative banks is the need of the hour to ensure viability,” said Dr Abhyanker.
Dr Abhyanker further said in India, the technology adoption is confined to office automation only.
“Urban cooperative banks should also utilize telecommunication channels for customer retention. The concept of customer service is to be replaced with customer care. The staff employees of urban cooperative banks have to maintain friendly relationship with their customers. The customers today not only need the service, but in the way it is delivered,” said Dr Abhyanker.
Mapusa Urban Cooperative Bank of Goa Chairman Ramakant Khalap said urban cooperative banks are facing stiff challenge from private and public sector banks.
“Technology goes on changing day by day and hence, it becomes an expensive affair for cooperative banks to adopt new technologies. Despite the odds, the performance of cooperative banks has been satisfactory in Goa,” added Khalap.
