Ajay mishra 13 Vinod yadav -29 Bhaskar bhogte-2 Rohan manjrekar-10 Santosh singh-24

What would be an appropriate service recovery policy for a wrongly bounced cheque for A your local saving bank A major international bank A high end private bank for high net worth individuals Design a high effective service guarantee for a service with high perceived risk. Explain why and how your guarantee would reduce perceived risk of potential customers, and why

 Explain why and how your guarantee would reduce perceived risk of potential customers and why current customers would appreciate being offered this guarantee although they are already customers of that firm and therefore are likely to perceived lower levels of risk.

Local saving bank

According to a Local saving banks ,they belief in the personalize one to one relationship with the customer. Service recovery of such banks nowadays is to call the customer to inform about cheque bounce due to technical reason. If there bounce due to banks technical fault they give assurance for the reversal of charges in the account and also apologize for the same with the assurance of good service in the future . If there is bounce due the technical reason not by the bank they educate the customer on the same and might reverse the charges looking at the potential business and relationship.

International bank
A major international banks are majorly depend upon the technology and relationship. MNC banks also follows the same process but they are very prompt in informing the customer either Via SMS or email . They also try to provide the personalized service to the customer either by calling or visiting personally . If asked by the customer they also provide the apology letter for lack of service also with the reversal of charges examples:-Citi bank,HSBC,Standard Chartered.

High End Private bank

A high end private bank for high net worth individuals generally bank depends upon the high end technology and relationship bonding and over managing the portfolio and account of the HNI customers. In this case generally this kind of mistake doesnt happen because there are fewer customers and bankers have the better control on the account and portfolio are being personally managed by dedicated RM . In the system account also has tagging of Private banking therefore, chances of bounce cheques are very rare in case there are technical problem it is immediately get refers to the dedicated RM so, that such instances can be avoided however if by mistake any thing goes wrong , apology letter is physically delivered by RM along with the senior employees and ensuring the best of services and also reason for technical bounce and the charges gets reversed immidiatley.

 Reasons is highlighted within the bank so, such instances not take place in future and customers are also educated for any technicality.

II)Bank provide the service guarantee for better services to the NTB and ETB to satisfy customer need and to cerate Brand Image in the market. Service guarantee is basically a turn around time (TAT) or commitment given to the customer resolution of the complaint made by the customer or providing the product and services within the stipulated time. Few banks or organization has taken few further steps where by customers are promised for the refund of processing fee or providing free gifts if the services commitments are not met.ss