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Time of India
7 days ago
- Business
- Time of India
Customer complaints rising fast, bankers lacking empathy: RBI DG Swaminathan J
Mumbai: Reserve Bank Deputy Governor Swaminathan J has rued a "lack of empathy" among bankers, even in the face of rising number of customer complaints around serious aspects like fraud. Speaking at an event of RBI-promoted NIBM (National Institute of Bank Management) on July 12, Swaminathan said there is "increasing automation but decreasing ownership", and customers have to contend with template emails and helplines loop back "endlessly". He made it clear that addressing these issues will be essential if bankers were to sustain people's trust in the system. The Reserve Bank's website published the speech on Tuesday. "The number of customer complaints -- especially through digital channels -- has risen significantly in recent years. From social engineering frauds to poor grievance redressal, the loss and frustration is real. Often, the problem is not the product or service, but, as I see it, the real issue is a lack of empathy," the commercial banker-turned-regulator said in his valedictory address to the students. Live Events Nowadays, KYC (know your customer) is often reduced to a "periodic ritual", he said, exhorting bankers to find a way to bring back that personal awareness and responsibility even in a digital context. Enlisting instances like senior citizen's struggles with ATM PIN, a rural area borrower's challenges to repay a loan online or the worries of a small business owner over UPI payments, Swaminathan said these are not mere service requests, but opportunities to earn trust by giving time and patience, and showing professionalism. "Technology will enable the transaction. But only you can build the relationship and only you can earn the customer's trust for your institution," he said, stressing that this is what will distinguish a banker from an app. The DG said a banker has to act quickly, endure uncertainty, recover from setbacks, and stay focused over the long run. "You will face moments of rapid change -- crises, deadlines, audits, policy shifts -- but you will also need the discipline and stamina to navigate slow, complex processes that unfold over months or years," he told the students beginning a two-year post graduation course in banking. Empathy, curiosity, and integrity will define success for the students over a long term, he said. "What will truly shape you as a banker is your ability to blend knowledge with judgment, law with convention, and theory with practice," he said. Things will not go as planned, but the ability to embrace the unfamiliar and turn unexpected situations into learning experiences will set a student apart, he said, asking them to stay alert and course-correct early. Banking today is more complex than ever, he said, adding that there are also new vulnerabilities like cyber threats, phishing, synthetic identities, deepfakes, and third-party risks.
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Business Standard
7 days ago
- Business
- Business Standard
Customer complaints rising fast, bankers lacking empathy, says RBI DG
Reserve Bank Deputy Governor Swaminathan J has rued a "lack of empathy" among bankers, even in the face of rising number of customer complaints around serious aspects like fraud. Speaking at an event of RBI-promoted NIBM (National Institute of Bank Management) on July 12, Swaminathan said there is "increasing automation but decreasing ownership", and customers have to contend with template emails and helplines loop back "endlessly". He made it clear that addressing these issues will be essential if bankers were to sustain people's trust in the system. The Reserve Bank's website published the speech on Tuesday. "The number of customer complaints -- especially through digital channels -- has risen significantly in recent years. From social engineering frauds to poor grievance redressal, the loss and frustration is real. Often, the problem is not the product or service, but, as I see it, the real issue is a lack of empathy," the commercial banker-turned-regulator said in his valedictory address to the students. Nowadays, KYC (know your customer) is often reduced to a "periodic ritual", he said, exhorting bankers to find a way to bring back that personal awareness and responsibility even in a digital context. Enlisting instances like senior citizen's struggles with ATM PIN, a rural area borrower's challenges to repay a loan online or the worries of a small business owner over UPI payments, Swaminathan said these are not mere service requests, but opportunities to earn trust by giving time and patience, and showing professionalism. "Technology will enable the transaction. But only you can build the relationship and only you can earn the customer's trust for your institution," he said, stressing that this is what will distinguish a banker from an app. The DG said a banker has to act quickly, endure uncertainty, recover from setbacks, and stay focused over the long run. "You will face moments of rapid change -- crises, deadlines, audits, policy shifts -- but you will also need the discipline and stamina to navigate slow, complex processes that unfold over months or years," he told the students beginning a two-year post graduation course in banking. Empathy, curiosity, and integrity will define success for the students over a long term, he said. "What will truly shape you as a banker is your ability to blend knowledge with judgment, law with convention, and theory with practice," he said. Things will not go as planned, but the ability to embrace the unfamiliar and turn unexpected situations into learning experiences will set a student apart, he said, asking them to stay alert and course-correct early. Banking today is more complex than ever, he said, adding that there are also new vulnerabilities like cyber threats, phishing, synthetic identities, deepfakes, and third-party risks. (Only the headline and picture of this report may have been reworked by the Business Standard staff; the rest of the content is auto-generated from a syndicated feed.)
News18
7 days ago
- Business
- News18
Customer complaints rising fast, bankers lacking empathy: RBI DG
Mumbai, Jul 22 (PTI) Reserve Bank Deputy Governor Swaminathan J has rued a 'lack of empathy" among bankers, even in the face of rising number of customer complaints around serious aspects like fraud. Speaking at an event of RBI-promoted NIBM (National Institute of Bank Management) on July 12, Swaminathan said there is 'increasing automation but decreasing ownership", and customers have to contend with template emails and helplines loop back 'endlessly". He made it clear that addressing these issues will be essential if bankers were to sustain people's trust in the system. The Reserve Bank's website published the speech on Tuesday. 'The number of customer complaints — especially through digital channels — has risen significantly in recent years. From social engineering frauds to poor grievance redressal, the loss and frustration is real. Often, the problem is not the product or service, but, as I see it, the real issue is a lack of empathy," the commercial banker-turned-regulator said in his valedictory address to the students. Nowadays, KYC (know your customer) is often reduced to a 'periodic ritual", he said, exhorting bankers to find a way to bring back that personal awareness and responsibility even in a digital context. Enlisting instances like senior citizen's struggles with ATM PIN, a rural area borrower's challenges to repay a loan online or the worries of a small business owner over UPI payments, Swaminathan said these are not mere service requests, but opportunities to earn trust by giving time and patience, and showing professionalism. 'Technology will enable the transaction. But only you can build the relationship and only you can earn the customer's trust for your institution," he said, stressing that this is what will distinguish a banker from an app. The DG said a banker has to act quickly, endure uncertainty, recover from setbacks, and stay focused over the long run. 'You will face moments of rapid change — crises, deadlines, audits, policy shifts — but you will also need the discipline and stamina to navigate slow, complex processes that unfold over months or years," he told the students beginning a two-year post graduation course in banking. Empathy, curiosity, and integrity will define success for the students over a long term, he said. 'What will truly shape you as a banker is your ability to blend knowledge with judgment, law with convention, and theory with practice," he said. Things will not go as planned, but the ability to embrace the unfamiliar and turn unexpected situations into learning experiences will set a student apart, he said, asking them to stay alert and course-correct early. Banking today is more complex than ever, he said, adding that there are also new vulnerabilities like cyber threats, phishing, synthetic identities, deepfakes, and third-party risks. PTI AA HVA view comments First Published: July 22, 2025, 16:30 IST Disclaimer: Comments reflect users' views, not News18's. Please keep discussions respectful and constructive. Abusive, defamatory, or illegal comments will be removed. News18 may disable any comment at its discretion. By posting, you agree to our Terms of Use and Privacy Policy.
Time of India
20-05-2025
- Science
- Time of India
Pune students excel in IGCSE and A level exams
Pune: Students of schools affiliated to the International General Certificate of Secondary Education (IGCSE – Class X), AS Level (Class XI) and A Level (Class XII) in the Cambridge International Education Board Exams 2024-25 have produced meritorious results. In IGCSE, an A* grade means a percentage ranging from 90-100 and an A grade means 80-89%. In AS Level, an A grade means 80-100%. Over 17,000 students from 420 schools from across the country wrote the exams in the March series. The exam series saw nearly 85,000 entries — the largest-ever March series held in India, marking an 11% increase from the previous year. Cambridge IGCSE witnessed a 12% jump from last year, with over 62,000 entries. Cambridge International AS & A Levels saw an increase of 10% with over 20,000 entries. Over 800 schools from across India offer the Cambridge international curriculum, which is taught in over 10,000 schools in 160 countries. Vinay Sharma, senior vice-president, International Education at Cambridge, said, "We extend our sincere congratulations to all learners in India receiving their March exam results. The results are a testament to their diligence and the commitment of their educators, parents and schools." The most popular subjects for both Cambridge IGCSE and International AS & A Levels remained mathematics, physics and chemistry. Cambridge IGCSE biology is experiencing a surge in popularity, with entries up by 16% compared to last year. Students from VIBGYOR campuses demonstrated academic excellence across disciplines, with numerous A* and A grades and subject distinctions. Aditya Aina was the topper from the NIBM campus for IGCSE and scored eight A* grades, equivalent to 93.6%. "I did a lot of self-revision, practised papers and reviewed my notes. The English papers were the most difficult. I plan to take up science for the next two years," said Aditya. "Aditya was consistent through the year and did not take too many external classes. He balanced his studies with other co-curricular activities like the Model United Nations. His father has been battling cancer since last year. Despite this, Aditya scored well," said his mother, Bhairavi Aina. Some other students from VIBGYOR High (NIBM) who scored well included Rachit Shrivastava, who scored 91.9% with seven As, and Zunairah Ahamadi, who scored 89.1% with six As. In Class XII, Vedant Bhat scored 91.7% with three A*s, Siddh Gandhi scored 90.3% with two A*s and Yamuna Seth scored 89.3% with two A*s. "I got a lot of guidance from teachers and extra classes helped me too. Physics was the most difficult subject, but I like to take up challenges. I will be studying data science and statistics in the future," said Vedant. Billabong High International School in Amanora also secured 100% results in IGCSE. Forty per cent of the students scored 90% and above. Ayan Atmakuri topped with 92% and secured A* in physics, chemistry, maths and computer science. Nishka Joshi scored 90% and secured A* in physics, chemistry and biology. "Self-study and solving past papers helped me achieve good results. My most difficult subject was maths. I plan to pursue data science, Al and ML in the future," said Ayan.
The Sun
06-05-2025
- Health
- The Sun
Malaysia aims to lead in global virology researc
KUALA LUMPUR: Malaysia is positioning itself as a global player in virology research and innovation, as part of its broader ambition to become a high-tech, self-sufficient nation by 2030, according to Science, Technology and Innovation Minister Chang Lih Kang. Speaking at the opening of the 3rd International Conference of the World Society for Virology (WSV2025) here today, Chang said Malaysia is committed to building science-driven resilience and public health security. 'Our target is to become a technology producer by 2030 and not just a user, but a creator and innovator, including in biotechnology,' he noted. The conference, also attended by WSV president Dr Maria Soderlund-Venermo, brought together over 300 experts from more than 25 countries, underscoring Malaysia's growing scientific capacity and its aim to become a regional biotechnology hub. Chang stressed that science must serve humanity, guided by ethics, collaboration and shared knowledge, values aligned with the MADANI Government's policy framework. 'We are honoured to host leading virology minds dedicated to understanding viruses and their impact on health, agriculture, biodiversity and ecosystems,' he added. Reflecting on the lessons of COVID-19 and the growing threat of zoonotic diseases, Chang called for greater investment in early warning systems, diagnostics, vaccines and antiviral treatments, not just to respond to health crises but to anticipate them. He also highlighted the role of the Malaysia Genome and Vaccine Institute (MGVI), under the National Institutes of Biotechnology Malaysia (NIBM), in halal-certified vaccine development, messenger ribonucleic acid (mRNA) research, antiviral innovation and global scientific collaboration. The three-day WSV2025 conference, themed 'The Virosphere of Our Cellular World', features more than 150 presentations on immunology, zoonotic diseases, vaccine innovation, genomic surveillance and diagnostics. The event is co-organised by WSV and NIBM, with support from Universiti Putra Malaysia (UPM), the Institute for Medical Research (IMR), Universiti Malaya, Monash University Malaysia and the International Centre for Genetic Engineering and Biotechnology (ICGEB).
