The Study of Opportunities and Challenges of Retail Banking in Indian Economy
Journal Title: JOURNAL OF COMMERCE AND TRADE - Year 2017, Vol 0, Issue 1
Abstract
The increase in retail lending in developing economies can be attributed to the rapid growth of personal wealth, favorable demographic profile, and development in information technology, the conducive macroeconomic environment, financial market reforms etc. The retail banking strategies of banks are undergoing a major transformation and have resulted in a paradigm shift in the marketing strategies of the banks. PSBs are adopting aggressive strategies, leveraging their branch network to garner a large share of the retail market. Countries, like India, have emerged as potential markets with changing investment opportunities. The higher growth of retail lending in emerging economies can be attributed to the rapid growth of personal wealth, favorable demographic profile, rapid development in information technology, the conducive macroeconomic environment, financial market reforms and small micro-level supply side factors. Retail banking is widely recognized as an important factor for the economic development of a country. Retail banking helps the Indian banking industry by providing a wide range of innovative services. Retail loan is estimated to have accounted for nearly one-fifth of all bank credit. Over the past few years housing sector is experiencing a boom in its availability of credit. The retail loan market has decisively got transformed from a seller's market to a buyer's market. The days are gone when getting a retail loan was difficult. All the above statements bring out the speed of development that retail banking is experiencing in India.
Authors and Affiliations
Avaneesh Kumar
Keywords
Related Articles
- EP ID EP245733
- DOI -
- Views 111
- Downloads 0
Indian Economy and Small Business Administration (Umbrella Cover to SSI Sector)
The present work throws light, in general, on Small Scale Industry in India and role of Government to enhance the SSI sector, the present work will discuss the role of SSI along with general economy of the country. Furth...
Involvement Measurement Models-A Retro Analysis (Implications to Academia and Industry)
Involvement has been studied as a social, phychological, and marketing variable for over 30 years. This variable has been found to be an internal constraint, which requires commitment, on concern by an individual and whi...
India’s Foreign Trade in Post Reform Period (Trends in the Volume)
Globalisation has become a ubiquitous term in international economy over the past two decades. Economic liberalization, reforms, restructuring and globalisation have paved the way for a new wave in the Indian economy. In...
A Conceptual Perspective on Brand Switching Behaviour of Consumers in Telecommunication Industry
The best thing to happen to mankind was the mobile phone. India has emerged as the fastest growing mobile phone market in the world. Mobile phone was thought of as a magical gadget in the past. It is a reality now. With...
Economic Development of India and Cottage Industries (Their role and Contribution in the Development)
For the balanced economic growth in the country, the era of economic planning started in India on April 1,1951, when the first five-year plan was launched. Since then, nine five year plans have been completed and the ten...