Friends, open a bank account with a private bank if you plan to run a business in India
I’ve been writing that ICICI has quite a few problems while it is India’s biggest private bank. My friend, who is an Indian person, keeps telling me that ICICI provides good services and we should really be happy; I didn’t exactly agree until just a couple of days ago, but I agree with him now.
I happened to stop at one of government bank offices a couple of days ago; the office itself was located in a fine location, and it had a very pretty view. I don’t get into details for variety of reasons, but the location itself was nice. However, I just thanked god that I did not open a bank account with a government bank (By the way, most of major banks in India are government banks. SBI, State Bank of India is one of examples; it is the biggest bank in India). I found that people were nice; I don’t get into details, but I was actually sitting inside the office where employees worked. Who knows? Maybe, they were quite capable. Maybe, they were very intelligent. However, I found lack of order in the office; I also did not find that bankers were responding to customers’ request swiftly. I found built-in inefficiency. I want to emphasize that bankers were not necessarily unproductive; it’s just that the system was not designed to make them work productively.
I don’t have any bank accounts with any government banks, so I don’t have any first-hand experience, but I personally prefer not to have any first-hand experience. Imagining what I would be experiencing if I opened my Indian company’s bank account at a government bank is rather frightening. Friends, open a bank account with a private bank if you plan to run a business in India.
