Date:18/09/2008 URL: http://www.thehindubusinessline.com/2008/09/18/stories/2008091852010600.htm

Back SIB plays ‘power’ game for new a/cs

L.N. Revathy

Coimbatore, Sept. 17 Who is more powerful — a branch manager or the chairman of a bank? If you thought the answer was ‘Chairman’, so did a couple of branch managers of South Indian Bank, when their Chairman, Dr V.A. Joseph, posed this question to them.

The Chairman was quick to challenge their notion that ‘he’ was powerful. Laying out his case, Mr Joseph said that even if he wanted to give a loan of Rs 5,000 to a friend, he would have to approach one of these branch managers. And if they did sanction a loan to ‘his friend’, chances are that they would approach him later for a favourable appraisal or increment! The branch managers began to feel that they were the new power.

Having established the grounds to prove that branch managers were more powerful, Mr Joseph said, “Since you are more powerful than me, you must do something for me.” The happy branch managers readily agreed to do anything that they could.

For a 1,000 accounts

Mr Joseph went straight for the jugular. He said, “Each of you must get me 1,000 new accounts this year. With 511 branches that would mean over 5 lakh new accounts. We can beat other banks hands down!”

The trapped branch managers have agreed. They are now on an aggressive campaign, visiting customers and friends in the vicinity of the branch.

The Dharmapuri branch of the bank and the one at NGGO colony in Coimbatore managed to bag a trophy each for acquiring 1,000 new CASA between April and August this year. While the former is a six-month young branch, the one at NGGO is not so.