Indian banking has undergone a total metamorphosis after the introduction of financial sector reforms in 1992. The environment in which the banks are operating has drastically changed. Indian banks are trying to attain international banking standards and practices. The implementation of second-generation reforms in this sector has supported these efforts. In their pursuit to achieve global standards, the Indian banking industry is facing numerous challenges like:

In addition to the above problems, due to economic slowdown the corporate credit is also not picking up. Even the treasury operations do not always help in generating profit. To overcome this situation the banks are eyeing the retail banking business which is being viewed as an attractive market segment with opportunities for growth as well as profit, with lesser risk spectrum.

Retail banking generally refers to offering financial services, products related to deposits and assets to individual customers for personal consumption. Banks concentrate on various segments like professionals, housewives, pensioners, children, salaried class etc. Different types of products like recurring deposits, savings bank deposits, fixed deposits, credit cards, housing and consumer loans and educational loans are offered by banks to
the above mentioned market segments.

New Strategic Need, financial sector reforms, Indianbanking, retailbanking, Banks, retailborrowers, strategies, Globalization, India, retailmantra, strategies, business potential, Internet, retail financial services, transaction, electronic channels, retailing, channels, Internet Banking, recurring deposits, savings bank deposits, fixed deposits, credit cards, housing and consumer loans, educational loans.