The new Customer Relationship Manager from Kotak Bank, Hyderabad called me. I was lucky to hear his voice second time. During the first conversation I requested him to suggest some measures to make up my huge loss.
He continues the call like this "Sir, market is very bad. Share prices have come down heavily. You have almost lost 65% of your worth, so we are not suggesting you to invest in any equity. It is very risky now and we have some good schemes around FD, etc. Pl. stay away from investment and we will review this once SENSEX reaches 15000 by mid 2009." I asked "what do you mean by not to invest". I patiently heard again his same logic. I just wondered and asked "my dear, think of a situation that I have cancer and went to a Doctor for advice. The Doctor says you have Cancer and any way you are going to Die so just sit back and enjoy. What would you say if this is the answer. I am coming to you for a specific answer that how can I make up the losses through some structured investment plan. What I want is some suggestion to invest in various instruments like FD, SIP, Govt securities etc for different intervals so that I am clear when I can make up the losses and in what period. I also go through Economic Times daily and understand little about the market. Please don't say that anyway I am going to die so just don't pursue any medicine" I do not know; he never expected this kind of question and could not answer anything convincingly.
What is the role of a Bank and the logic in treating customers with tag 'Gold Customer' etc? What is the role of Customer Relationship Manager who never calls a customer for months together? What is the role of Relationship Manager who has no clue how an ailing customer could be helped out with some tips to recover his losses? I am completely disappointed....
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