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- Title
Indian Banking Sector: Challenges and Opportunities.
- Authors
Kamath, K. V.; Kohli, S. S.; Nayak, R. M.; Ravichandran, N.; Shenoy, P. S.; Kuppuswamy, P. T.; Kumar, Ranjana
- Abstract
A distinguished panel of managing directors and chief executive officers of some of the well-known banks in the country responded to the theme on the challenges and opportunities faced by the Indian banking sector in the liberalized environment. The contributors addressed the following issues: • Financial reforms with specific reference to Indian banking industry focusing on implications to the existing players, new entrants, multinationals, and consumer behaviour. • New and emerging opportunities: consumer and commercial banking. • Competition: players, intensity, market size, profitability, and growth. • Responses to challenges with reference to restructuring, automation, product delivery, and process reengineering. • Issues related to governance, regulation, and audit. • Product engineering, product design, and product delivery. • Consumer expectations, feedback, cross-selling, customer relationship management(CRM), market segmentation, marketing, branding, and new products introduction. • HR related issues: VRS, compensation, education and training, empowerment, and career plan. • Future scenario: Broad trends in the next five years and the expected position. • E-banking and its importance. Salient features of the responses included: • The Indian banking sector is at an exciting point in its evolution. The opportunities to enter new business and new markets and to deliver higher levels of customer service are immense. • As the Indian banks position themselves as financial service providers, banking business is getting redefined. Technology is unsettling the earlier business processes and customer behaviour is undergoing change. These have enhanced the forces of competition. • Competitive advantage can be achieved through harnessing the potential available in the employees by creating...
- Subjects
INDIA; BUSINESS; BANKING industry; COMPETITION; CUSTOMER relations; BUSINESS enterprises; FINANCIAL services industry
- Publication
Vikalpa: The Journal for Decision Makers, 2003, Vol 28, Issue 3, p83
- ISSN
0256-0909
- Publication type
Article
- DOI
10.1177/0256090920030308