Recently, UCO Bank has asked each branch to distribute sweets to Top 10 NPA borrowers. UCO has mentioned:
“We cannot deny the fact that a customer presently classified as NPA borrower was once a valued customer of the Bank.”
Proper connect with such customers may bridge the gap created between them and the Bank. Such activity may also create a satiation of empathy and harmony compelling some of the borrowers to come forward for settling their account with the Bonk.
The country’s largest bank, SBI, adopted a similar approach previously. SBI employs artificial intelligence to receive alerts about customers at risk of defaulting on their EMIs and has instructed its officials to pay visits to these customers and offer them tokens of appreciation like sweets.