The Objective of the Goiporia Committee was to enhance the existing system of customer services to attract more customers and get a winning edge in the competitive banking sector. The Goiporia Committee wanted to improve the facilities and introduce certain new provisions that would help the baking system make more profit and become a household option for its customers. The Objective of the Goiporia Committee was to establish a more open and transparent system of communication with their customers that would help them maintain a good working relationship with their customers. As the RBI was a regulatory body, it appointed the committee. 

Goiporia Committee

The objective of the Goiporia Committee was linked to increasing the customer base and lending them appropriate customer support. Diversifying the customer pool was a motive.  The Goiporia Committee wanted to improve the facilities and introduce certain new provisions that would help the baking system make more profit and become a household option for its customers. The Objective of the Goiporia Committee was simple and focused on the customers. The banking sector was still lagging in the 1990s and so the RBI decided to uplift its situation and attract more foreign investors to push money into the domestic economy for economic development. 

The objective of the Goiporia Committee

The objective of the Goiporia Committee along with its recommendations is available on the master circular section of the RBI webpage. The Circular is on customer service which indicates that the sole purpose of this operation was the customers. The instructions that were laid down in the entire circular can be summed up in the following manner:

  • Instructions as per the Goiporia Committee
  • Instructions as per the collection of outstation and local instruments and 
  • Other instructions related to baking facilities

Under the chairmanship of M.N. In Goiporia, the Committee had made many recommendations to meet its singular motive of enhancing the customer services of the banks. Most of the etiquettes and provisions that still exist today in the country are divided from the instructions made by the Goiporia Committee. An emphasis was laid on customer services to increase the pool of customers and tap into the buying power of yet unreached markets. 

Goiporia Committee on Customer Service

The Goiporia Committee on Customer Service can be summed up in the following ways;

  • Passbooks and Accounts Statements must have a name, account number, address, IFSC code, Customer care number (toll-free), and many other particulars for the benefit of the customers
  • Banks must have the banking facilities like ATM cards, transactions, cheques without a minimum balance prescription
  • Service charges must not exceed a certain amount
  • Title deeds must be returned within 15 days of the loan cluster
  • Staff must be specialized and have proper authentications
  • Cheque Drop Box must be provided in every bank center

These are not the only recommendations made by the Goiporia Committee in line with its objective. 

Chairman of Goiporia Committee

M.N. Goiporia was the chairman of the Goiporia Committee in 1990. He was also the 14th chairman of SBI. He was a prolific banker. He, however, became embroiled in the 1992 financial scam and that is his legacy now. 

Conclusion

The Goiporia Committee was a committee appointed by the RBI in 1990 to look into the matter of improving customer experience and services in the banking sector. The Cooperative banks which were the primary source of urban banking in many still-developing regions were established to bridge the gap between urbanity and semi-urbanity.