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Project on Retail Banking

In: Business and Management

Submitted By ishangulati1408
Words 7281
Pages 30
1 Introduction
Retail banking is quite broad in nature - it refers to the dealing of commercial banks with individual customers, both on liabilities and assets sides of the balance sheet. Fixed, current / savings accounts on the liabilities side; and mortgages, loans (e.g., personal, housing, auto, and educational) on the assets side, are the more important of the products offered by banks. Related ancillary services include credit cards, or depository services. Today’s retail banking sector is characterized by three basic characteristics: * Multiple products (deposits, credit cards, insurance, investments and securities) * Multiple channels of distribution (call centre, branch, Internet and kiosk) * Multiple customer groups (consumer, small business, and corporate)

Retail banking is banking in which banking institutions execute transactions directly with consumers, rather than corporations or other banks.
A sound and evolved banking system is essential for sustained economic development. India is one of the fastest growing economies after financial and banking sector reforms since 1991. Banking sector evolution and growth has gone through innumerable twists and turns in the post independence era. Retail banking in the banking industry has always been important in India where banks were nationalized with the objective of reaching the masses. However, the growth in retail banking has been quite prominent retail in the recent years. Retail banking has been facilitated by growth in banking technology and automation of the banking process. Technological development has been hugely responsible for the rapid growth and spread of retail banking. There is also an expansion in the nature and products offered under retail banking. Retail banking has vast opportunity as well as challenges in a growing economy like India.
A.T. Kearney, a global management-...

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