Industry Analysis of Banking Sector
INDUSTRY ANALYSIS
An analysis of banking sector in India
Introduction
The liberalization brought in 1991 has swept the economic landscape of thecountry. The automobile industry is one of the invisible faces of liberalization .For the people who were used to many years of Ambassador cars with various models notdifferent in anyway except a few changes in every model, the arrival of Maruti heraldedthe beginning of a new experience in automobile comfort. It was the same with BajajChetak. Its obnoxious horn and the tilt and start symbolized the deplorable technology towhich an Indian consumer was treated. We are thus living in the era of change.Banking sector is no different. The changes in banking in the last decade areunparalleled when compared to the entire period of banking history in India. Profitability,which remained a taboo for bankers for years since independence, has become a buzzword today. Our banks modeled on British banks, which erected awesome buildingto scare the public in the garb of being a sentinel of public money, today go for boutique banking to be as close to public as possible. Thus, competition fuelled by technologydrives banking today.It is becoming increasingly clear that ' Technology ' alone can make bankers sail through the competition. Computerization of branches, introduction of cashmanagement products, remote access login for corporates,
Banking Company is defined as “a company, which transacts the business of banking in India
. The Banking Regulation Act defines the business of banking by stating the essential functions of a banker .It also states the various other businesses a banking company may be engaged in and prohibits certain businesses to be performed by it.” mobile banking, Internet banking and ATM banking are a few ways by which bankers use technology today to beat the competition
BANKING STRUCTURE IN INDIA
The Indian banking can be broadly categorized into nationalized (government owned), private banks and
An analysis of banking sector in India
Introduction
The liberalization brought in 1991 has swept the economic landscape of thecountry. The automobile industry is one of the invisible faces of liberalization .For the people who were used to many years of Ambassador cars with various models notdifferent in anyway except a few changes in every model, the arrival of Maruti heraldedthe beginning of a new experience in automobile comfort. It was the same with BajajChetak. Its obnoxious horn and the tilt and start symbolized the deplorable technology towhich an Indian consumer was treated. We are thus living in the era of change.Banking sector is no different. The changes in banking in the last decade areunparalleled when compared to the entire period of banking history in India. Profitability,which remained a taboo for bankers for years since independence, has become a buzzword today. Our banks modeled on British banks, which erected awesome buildingto scare the public in the garb of being a sentinel of public money, today go for boutique banking to be as close to public as possible. Thus, competition fuelled by technologydrives banking today.It is becoming increasingly clear that ' Technology ' alone can make bankers sail through the competition. Computerization of branches, introduction of cashmanagement products, remote access login for corporates,
Banking Company is defined as “a company, which transacts the business of banking in India
. The Banking Regulation Act defines the business of banking by stating the essential functions of a banker .It also states the various other businesses a banking company may be engaged in and prohibits certain businesses to be performed by it.” mobile banking, Internet banking and ATM banking are a few ways by which bankers use technology today to beat the competition
BANKING STRUCTURE IN INDIA
The Indian banking can be broadly categorized into nationalized (government owned), private banks and