Emerging Trends In The Banking Sector

The liberalization process initiated by the government about a decade ago has changed the landscape of several sectors of the Indian economy. The financial sector like other sectors is also going through major changes as a consequence of economic reforms. The consumption-led boom in India has fuelled robust demand for financial products especially in the banking domain. Emerging competition has generated new expectations from existing and new customers. There is an urgent need to introduce new and more attractive customer-friendly products and services. The banking sector presently is at an inflexion point. Existing products need to be delivered in an innovative and cost-effective manner by taking full advantage of emerging technologies. Technology has swiftly become a business driver rather than a business enabler. This sector has seen phenomenal growth in terms of technology infusion and adoption in the recent past such as: Internet and Mobile Banking, CRM, etc. With increasing competition and tightening of prudential norms by the Reserve Bank, the players in the banking industry, both Indian and global are taking turns towards mergers and acquisitions. Only banks having adequate infrastructure, technology, economies of scale and well connected network of branches will be able to survive and meet the challenges of ever increasing competition and customer expectations. The book is divided into two sections. Section-I extensively covers the trends, issues and challenges related to the technology i.e. ATMs, e-banking, data warehousing and data mining, CRM solutions, etc. Section-II covers other contemporary issues in the banking sector such as Basel II, financial inclusion, service quality, risk management, bancassurance, retail banking, universal banking etc. The book shall serve as a rich reference resource for decision makers in the banking industry, researchers, academicians and students.