REPORT:

REPORT
Report of committee appointed to investigate the causes of decline in business in UCO
Bank in Bandra

Between July and November 2019

1. Terms of Reference:

The committee was appointed by the following resolution adopted by the

meeting of the Board of Directors held on 6th December 2019.

Committee consisting of the five regional managers namely Mr. Aldrich

Fernandes, Miss. Athira Nair, Mr. Rajendra Corea, Mr. Sachin Tiwari and Mrs.
Pallavi Patil were appointed to investigate the cause of significant decline in
the business of the urban branches of UCO Bank, from the term July to
November 2019 and hereby report with recommendations.

2. Procedure:

The five regional managers from Mumbai, Hyderabad, Bangalore, Cochin and
Chennai had conducted several meetings within the span of these five months
to discuss the issue with the employees and customers to find a solution for
the rapid decline.

3. Findings:
a) The bank has incurred costs with addition of new branches across India in
the past year, thus causing a major chunk of the income as a future
investment and expansion plan for the bank.
b) Since UCO bank follows traditional banking methods which have been
adopted and in existence since the establishment, there was stagnancy in
growth.
c) Due to rise of competition with other banks who have latest technological
elements and services, attracting and gaining customers, we have seen a
decline in UCO’s growth.
 d) Through various surveys and research conducted for our customers we
have found that our employees are not as skilled in their job and thus lag
to retain customers or attract new ones.

Recommendations:

The committee makes the following recommendation:

i. Computerization of the branches across the country to maximize optimum

usage of time, resource and productivity.
ii. Introduction of 'item process’ system should be made in 3 phases:
 In the initial phase at the metropolitan cities namely 4 viz. Mumbai,
New Delhi, Chennai and Calcutta, with the help of MICR technology.
 
 In the second phase all important commercial centers and state
capitals.
 
 In the last phase the four Regional areas with headquarters at New
Delhi, Mumbai, Chennai and Hyderabad will be introduced with
national clearing.

iii. Adoption of standardized cheque forms, reorganizing work procedures

wherever necessary, and training staff down to the branch level.

iv. Setting up a network of Automated Teller Machines (ATMs) in Mumbai.

ATMs to be strategically located at airports, railway stations, hospitals,
important commercial centers.

v. Introduction of one-way collection of cheques drawn can be received in the

4 metros cities which are, from Mumbai, Bangalore, Chennai and
Hyderabad.

vi. Customer relationship management training should be provided to all the

employees for the required departments from the lower level to the top
level so as to increase customer retention and attract new potential
account holders.

Place: Mumbai Athira Nair

Date: 10th December 2019 Aldrich Fernandes

EMAIL:

To: blankandsons@gmail.com

CC:

BCC:

Subject: Overdue Payment of Rs. 10,00,000 for computers supply three months ago

Dear Messrs. Blank and Sons,

Our records show that even after several reminders and requests, we haven’t yet
received the payment from you of Rs. 10,00,000 for the computers that we had supplied
three months ago. We have not received any intimation from you to settle your account.
I am writing to formally give a final reminder for the above mentioned payment hoping
there would be no further delay.
Please understand that the failure to pay is one of the most frequent reasons why
companies receive poor ratings for their own credit reputation, and we are concerned
about the balance due from you.
We would advise you to arrange for the funds and deposit into our account on or before
20th of December 2019.After the payment please inform us.

You can contact our office if you have any questions regarding the payment so that we
don’t have to continue further collection efforts.

I hope you will act promptly by forwarding us your payment in full immediately or
contacting us to discuss other financial arrangements. I have also enclosed a stamped,
addressed envelope for your convenience.

Sincerely,

Finance Team,
IBM Pvt. Ltd.
Contact - xxx
Email – xxx