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Cash Strapped ATM!



ATM stands for Automated Teller Machines (no no, not Azhagiya Tamizh Magan) and it is supposed to help customers access their bank accounts in order to make cash withdrawals and check their account balances. Alright! We all know that right? But have you ever heard of or seen an ATM with no cash!! Read on....

Marketing professor of a leading South-Indian Bschool had this to say about Canara Bank's new logo and makeover:
Canara Bank now sports a new slogan " Together We Can". The new slogan replaces the old slogan "Vikas ke liye Sewarth, Sewa ke liye Vikasarath" - where the focus was on the Service. The new slogan speaks more on achievement & aspiration rather than service. The natural question that comes to our mind is about the purpose of rebranding exercise. Why should a bank which has a legacy of over 100 years change its brand elements ?


He goes on to say:
In the case of Canara Bank , the reason for this repositioning exercise can be to attract younger consumers. The younger customers are lured away by the new-generation banks which are perceived to be more technologically advanced and customer friendly. To fight the competition , these old banks had to shed the " fuddy -duddy " image and has to be perceived as a modern bank. Heritage brands usually are perceived to be boring and slow. Hence an image makeover makes lot of sense.

I sincerely hope & pray that Canara Bank can live up to the expectations; otherwise this whole rebranding exercise is a waste of money. A case in point? Their very poor ATM networks. I had already ranted earlier in this blog about their ATM machines; now here's a video evidence.... I needed some cash urgently yesterday, but there was no money in the ATM machine. Worse, there was not even a print slip available!! Gossssh!

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