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(The Economic Times (India) Via Thomson Dialog NewsEdge)Banks offer the following services to account holders at
their specified branches - multi-city / Payable at Par (PAP) cheque facility, anywhere banking facility, trade services,
phone banking facility, internet banking facility, credit card, debit/ATM card, mobile banking and Real Time Gross
Settlement (RTGS).Ê

Foreign banks are expanding the number of products on offer, their complexity such as derivatives, leverage financing.
Doorstep banking facilities are being offered by some of these banks to cater to convenience lifestyle of its customers.
Private banks are extending services including wealth management and equity trading apart from credit cards.

How do banks price their services?

The pricing mechanism is dependent on client relationship and the nature of the transaction. The pricing can be arrived
at by profiling customers into different segments. The large corporate segment comprises of the bulk and large value
transactions.

This segment is characterised by multiple service relationships. The pricing in this segment is transaction based and
depends on the size of transactions and on the banks' relationship with the corporate. Hence, the pricing is decided on a
one to one basis and public.

The other segments comprise the brokers, small and medium enterprises (SME), other banks and the retail segment. In
each of these cases, the pricing is not made public and is determined on the basis of the nature of the transaction and
the banks' relationship with the client, on a one to one basis.

Typically, high volumes and low value characterise the SME segment. Therefore the pricing for this segment differs from
that of the large corporates. Similarly the pricing for the banks is very different. In the retail segment, the bank publishes
its tariff.

How do services contribute to the bank's income?

Increasingly banks are witnessing a growth in their non-interest or fee-based incomes. With interest spreads decreasing,
banks have little option but to ramp up their revenues from fee-based income.

Fee-based income constitutes a major portion of a bank's other income. The ratio of other income to total income is an
indicator of the size of fee-based income. Treasury incomes of public sector banks are no longer the major revenue
driver and have been coming down as a result of rising interest rates. Volatility of interest rates are compelling banks to
increase their fee based income.

What is non-fund based income?

The non-fund based income comprises of revenues from both financial commitment and services rendered. Financial
commitment includes guarantees, letters of credit and bankers acceptances etc.

The fees charged may vary from bank to bank and is dependant on the relationship of the bank with the client and the
size of the transaction. On the other hand, the revenues from services rendered include fees from funds transfer and
enabling services like ATM, internet banking etc. The revenues from funds transfer come from corporate services such
as cash management, foreign exchange remittances and from retail services including drafts, pay orders etc.

Which is the most important component for the fee-based income of banks?
The cash management business contributes to banks' fee based revenue stream in a major way. The cash management
business comprises four types of services including collection of outstation cheques, disbursement of outstation
cheques, payment of dividends, interest, and refunds and e-business.

The tariff differs depending on the volumes, the banks' profitability and the banks' relationship with the client. As a
proportion of the total fee based income, cash management is the most important component. The other streams of
income like auto loans, personal loans, loans against shares among others are residual.

When did RBI grant freedom to banks to prescribe service charges?

Indian Banks' Association (IBA) has dispensed with the practice of prescribing service charges to be levied by banks for
various services rendered by them. With effect from September 1999, the Reserve Bank has granted freedom to banks
to prescribe service charges with the approval of respective board of directors.

Why is RBI taking note of different service charges levied by banks?

RBI has been receiving representations from the public about unreasonable and non-transparent service charges being
levied by the banks. The RBI has directed the banks to display and update on their web sites, offices and branches, the
details of the charges pre-scribed by them for various services. It has advised the banks to display the charges in
specified formats. The display may also be in local language.

Hitherto, it was left to the banks to fix charges consistent with the cost of providing these services and also to ensure that
customers with low value/volume of transactions were not penalised.

Limited product line and revenue stream

[ [Another cause of weakness is the lack of any well thought out strategy to improve their
product line. The existing products are also not being marketed effectively. As a result,
these banks are operating almost entirely on a single revenue stream, namely, interest
income. Here too, they are unable to meet the pricing offered by their competitors both in
respect of liabilities as well as assets. Over dependence on interest income alone is
impacting their earning capacity very adversely in a falling interest rate scenario. The
banks also do not possess the required capability to manage interest rate related risks
which makes sustainable viability of their operations even more suspect.

High NPA and high fresh NPA generation

[
The position with regard to the level, recoveri es and fresh generation of NPAs is given
under Annex 10. All the three banks have built up a high level of NPAs over the years.
Further, although UCO Bank was able to keep addition to NPAs lower than recoveries
made in the years 1997-98 and 1998-99, in the other two banks, fresh generation of NPAs
has been higher than recoveries. In UCO Bank also, the size of addition has still been
quite large and, as a result, there has not been much improvement in the overall size of
NPAs in the bank. This is mainly due to poor appraisal skills and non -upgradation thereof
to keep up with the changes in the market environment and deregulation in various credit -
related areas. Some of the credit decisions, especially in the case of Indian Bank, are
allegedly cases of misfeasance. These are under investigation by various agencies
including the judiciary. The high level of NPAs has affected their ability to recycle funds
and has resulted in lower return on assets as also low net interest earnings.

Slow decision-making process resulting in loss of business

[ The problem of NPAs is compounded by the fact that decision making in respect of
both sanction of fresh advances and disposal of proposals for recovery of bad loans
through compromise has been very time consuming. This has greatly contributed to the
slowdown in sanction of fresh credit although it is also partly due to a conscious decision
to park funds in government securities rather than in advances. The banks have also been
excluded from several consortia partly on accoun t of the slow decision making process,
overpricing, poor services and an overall poor image.

Slow growth and loss of fund-based advances leading to fall in income from non -fund
based business

[ As a result of the negligible growth in advances, the banks¶ share in business has
suffered. These banks have been growing at levels far below the industry growth rate.
Consequently, income from fee-based activities such as remittances, forex business,
guarantees and LCs, which is already at a low level in these ba nks, is diminishing further.
The banks have failed to develop alternative non -interest, fee-based sources of earnings.
Indifferent customer service, lack of skills, and unwillingness to innovate and customise
products/services as per the customers¶/market¶s expectations have been the main
reasons for their failure to nurse their fee -based income. From some areas of
remunerative business, e.g., forex transactions, these banks have been almost wiped out.
United Bank of India, a bank with over 1,300 branches c ould earn from its forex
transactions only Rs. 8 crore in the entire year 1998 -99. The bank¶s earnings from this
source have been virtually stagnant at the level over the past three years

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