F o r P e e r R e v i e w
“RETAIL BANKING- NEW BUSINESS PROSPECT”*Dr. M.Prasadarao **Dr. Firdos T. Shroff
Institute for Technology & Management RKP. Chetna Institute of Management
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:
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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