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Retail Banking Dr MP Rao Publication

Retail Banking Dr MP Rao Publication

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Published by Dr. M.Prasada Rao

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Published by: Dr. M.Prasada Rao on Oct 10, 2010
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10/10/2010

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F    o  r    P    e  e  r    R   e  v   i    e  w   
 
Retail Banking
 
 
Journal:
Leadership
 Manuscript ID: DraftManuscript Type: Standard ArticleKeywords:microfinance, micro credit, micro insurance, SHG Bank LinkageProgram, Rural Finance, Retail Banking, Micro BankngAbstract:Today’s banking services are customer oriented. New services andproducts are designed and inducted to meet the diversifiedcustomer requirements. Still there are some limitations inproviding the services. In this context, the paper surveys theneeds of the customers vis-à-vis banking segment. There is alwaysa measurable distinct between requirement and availableservices. At present the banking industry introducing newproducts to acquire get a good spread. A majority of mass which isstill unable to access the available services either by excluded dueto many reasons or banks are not showing enough managerial skillsor risk management skills to get maximum market share byreaching the target customers. The options would be aggressiveretail banking or reaching the rural poor with much more flexiblefinancial inclusion methodology. This paper will be touching allthose aspects in concise way involving and changingits operations to provide better services. It will put a light on issuesof demands and possible provision of core banking solutions.
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“RETAIL BANKING- NEW BUSINESS PROSPECT”*Dr. M.Prasadarao **Dr. Firdos T. Shroff 
Registrar Director
 
Institute for Technology & Management RKP. Chetna Institute of Management
ABSTRACT:
Today’s banking services are customer oriented. N
 
ew services andproducts are designed and inducted to meet the diversified customer requirements. Stillthere are some limitations in providing the services. In this context, the paper surveys theneeds of the customers vis-à-vis banking segment. There is always a measurable distinctbetween requirement and available services. At present the banking industryintroducing new products to acquire get a good spread. A majority of mass which is stillunable to access the available services either by excluded due to many reasons or banksare not showing enough managerial skills or risk management skills to get maximummarket share by reaching the target customers. The options would be aggressive retailbanking or reaching the rural poor with much more flexible financial inclusionmethodology. This paper will be touching all those aspects in concise way involving andchanging its operations to provide better services. It will put a light on issues of demandsand possible provision of core banking solutions.
KEY WORDS: Retail Banking, Products, Exclusion, Customer, Banking Solutions
 
Objectives of the study:
1)
 
To study the various needs of customers and products and services in retailbanking sector as on date2)
 
To find the latest trend in retail banking services sector, as on date3)
 
To study nature of retail banking and financial sector in India.4)
 
To analyse the impact of retail Technology on banking and financeThe primary objective of this research is to analyse a key aspect of the commercialbanks, i.e., the extraordinary rapid rise of the retail products and services industry and itsrole in enhancing the competitiveness of these banks. The researchers examines commonapproaches and identify best practice mechanising for promoting and diffusing retailsegment and for building a national retail banking and financial infrastructure.
Design of the Study:Methodology:
A quantitative approach was used for the study. Visit to customers wascarried and interactions held to enable us to know the trend and market in retail bankingand financial services sector. A survey was conducted to study the need-based productsand what customer wants in present day context, in both urban and rural areas.
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Introduction:
The face of Indian banking changed irreversibly soon after liberalization in theearly nineteen nineties – after the advent of the new private sector banks or the newgeneration banks as they are often called. Till then banking was quite staid due to lack of freedom of diversity. Banking was not segmented and a banker accepted deposits, gavecorporate loans and offers investment advice.Today’s customers are service-oriented. Products custom
 
er demand are plenty,whereas the products offered by banking/financial services sector are limited, as there arevarious risk involved. Customers desire prompt, efficient service and demanding flexibleproducts to meet requirement. The urban customer usually having access to all thebanking products and availing successfully. But the rural customer especially excludedcustomers due various reasons unable to avail these services. In this context, the papersurveys the needs of the customers vis-à-vis banking segment. The paper covers variousneeds of customers, what products and services they require in the retailbanking/financial services sector.
What is Retail Banking :
The dictionary meaning of Retail is –
‘The sale of goods to ultimate consumers, usually in small quantities’
Retail banking is typical mass-market banking where individual customers uselocal branches of larger commercial banks. Services offered include: savings andchecking accounts, mortgages, personal loans, consumer loans, debit cards, credit cards,and so forth.Retail Banking is among the fastest growth industries in the country. Majorsector of availing customers are at urban due to awareness and affordability. Theproducts are designed as per the requirement and affordability i.e., the raising diversifiedlifestyles and requirements on basis of the lifestyle and ability to repay the loan.The important causes for the growth of the retail banking in India, some of whichare as follows :1) New general banks are customer centric, focused and driven2) They want growth, market share and a dominant presence.3) This is being achieved by creating specialist groups and developing expertise4) As a consequence banking has become functionally segmented – retail assets, retailliabilities, corporate banking, trade finance, merchant banking, private banking andtreasury.
A “Young” population
. . .
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