Emerging Trends in Banking - The traditional distinctions between banking and other

financial services like insurance on one side; and between commercial banking,
developmental banking and investment banking are getting blurred

The emergence of universal banking and bancassurance are clearly pointers. This
global convergence of financial services may gather further momentum in the years to
come.

The banking and insurance sector reforms have encouraged private sector players to
make forays into the business in collaboration with major international companies.

This new scenario will witness financially sound and experienced players transforming
the industry with best practices in product development, operational efficiency,
marketing capability, service focus, and tech savy orientation

Thus there is a need for intensive, futuristic and career oriented programs in these two
areas: Banking and Insurance. These developments in Banking and Insurance industry
call for competent and professionally trained managers", observed Dr. A.B.C. Raj,
Chancellor, the ICFAI University, in one of his recent messages

Increasing competition, thinner spreads and introduction of new technology driven

products are some of the trends that the Indian banking system is experiencing. "Recent
trends in Indian banking have reflected the efforts of the major players to adapt to a
rapidly liberalising and globalising environment

While the inpact of these changes is possibly a subject of debate, there is one group
which is not complaining  the customers, the beneficiaries of the process of
liberalisation," observed Amitabh Guha, State Bank of Travancore.

Further, the technology oriented banking has become one of the latest mantras of success in
the market, especially to win over the customers.

To this, says SBI Chairman AK Purwar, "Indian banks need to fuel the market by bringing new
products at par with the international standards, extending ATM facility to rural areas and
vibrant networking countrywide to compete with the new generation and the MNC banks in
India"

As T.S. Anantharaman, Financial Analyst, mentioned, "The savings and investments

scenario in our country has undergone total change in the past decade, since the
country embarked on a course of liberalisation and globalisation of its economy
With the increasing sophistication of our economy, the variety and type of investments
options available to us today have multiplied

Also, with the economy getting more and more integrated with the world economy, rapid
changes in the options, instruments, rate of return etc. have become the order of the
day." Such a change is visible in respect of shares, mutual funds, fixed income, bank
deposits, life insurance, pension plans etc

Since change and innovation is involved in this process, one can legitimately expect an
exciting and lucrative career scenario in the banking, finance and insurance sector.