Thursday, April 06, 2006

SBI strike

SBI, the behemoth of Indias banking sector, awoke recently and has made a few agile moves to consolidate its position as the big daddy of them all.

The ad campaign did remove some of the perception of the fuddy duddy image around public sector banks (we work 9 to 5 only, there are no online services, please fill 3 forms and get three referrals in triplicate for withdrawing your money types).

This strike has got back some of the images associated with SBI and its fuddy duddy image. Read the Business-standard piece for an incisive analysis of the strike and why their demands are untenable.

SBI needs much more than ad campaigns if it is to retain its place. Because of its size, it will be a while before it is overtaken, but its mindshare will steadily reduce in favour of the private entrants.


rtotla said...

It has been fifth day of strike. The indian business is getting hit by this strike.


opus said...

You cannot sell a bad product by good advertsing or packaging. Even when SBI went on its advertising blitz, one felt the disconnect between the projected image and the unattractive reality. The approach of its management and employees is that of 'babus' who do not feel the need to serve the customer beyond the bare minimum inescapable. The gulf between the service one gets in the modern banks and rut-ridden banks like SBI is massive. The striking employees do not evoke sympathy and the discomfort amd more they have caused to its customers (since government funds are parked with SBI, many still have to bank with the SBI) has only alienated them further. The day is not far when the government is forced to take its accounts to the more efficient banks.

Neelakantan said...

A lot of SBIs business is thanks to monopoly and continuity. Events like these will cause SBI to lose business. After all the government gave in this time. Next time there will yet another strike for this or an other reason.So, SBI better watch out.

harry said...

State Bank of Stupidity! :P

Unknown Indian said...

SBI employees have the cheek to behave in such a ridiculous manner only due to its implicit government guarantee. Its a shame the government caved in so easily. What we should have done is sack the b#@#@#!