2. PRE-GLOBALIZED SCENARIO OF SERVICE CULTURE IN THE INDIAN BANKS SERVICE CULTURE WAS EXTREMELY DEMOTIVATED & NON INTERESTED EMPLOYER& EMPLOYEE. NON COMPETETIVE ATTITUDE. PRODUCT FOCUSED & NOT CUSTOMERSERVICE FOCUSED. CUSTOMER UNFRIENDLY FORMALIZED
5. BANKS IN GLOBALIZED COMPETITIVE WORLD. Foreign Banks in India Indian banks abroad ABN AMRO BANK CITI BANK BANK OF CEYLON PUNJAB NATIONAL BANK BANK OF BARODA ICICI BANK.
9. Innovation In Banking Product. Occasional greeting at home Surprise gifts. Good waiting rooms friendly employees Welcome note. Timely service Long banking hours. Low interest Rate. Safety of deposits Loanable funds etc. The basic necessity to use banking services in order to handle finance more efficiently Potential Product Augmented Product Expected Product Basic Product Core Product
10. Flower of banking service Mobile & Internet banking ATM Network Good Waiting room Promotional discounts Low interest rates Intro. Of new schemes Change in Product line Consultancy service Financial service
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13. ADDITIONAL FINANCIAL SERVICES AVAILABLE TO BANKING SECTOR : Merchant Banking Loan Syndication. Mutual Fund Factoring. Forfeiting. Venture Capital.
14. These services are being initiated by banks like , ICICI Bank Ltd., Citibank, Global Trust Bank Ltd., UTI Bank Ltd., Bank of Citibank Bank of Madura Ltd., Federal Bank Ltd., etc.
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16. Conclusion The opening up of economy in 1991 paved the way for the next revolution in Indian Banking: the emergence of private banks. It has changed the face of retail banking , bringing in enhanced competitiveness, product mix & customer satisfaction. The emergence of retail banking has also brought into focus the performance of the private banks & their aggressive banking practices. The new private banks have used technology to grow. The PSUs are now becoming more customer centric & tech savvy. The battle for the Indian consumer’s mind is in full swing.
