EMERGING TRENDS AND CHALLENGES OF INDIAN BANKING INDUSTRY
Author’s Name : Dr G Subashini
Volume 03 Issue 02 Year 2016 ISSN No: 2349-7289 Page no: 10-12
Abstract:
Every individual’s day is filled with some expectations, needs and wants. This era is the age of changing and uncertain situation in the world economy with Globalisation and Liberalisation. In this aspects banking plays key role to balance and develop the economy by which borrows idle resources, makes funds available to the needy. It does not refer only to a place of tending and depositing money, but looks after the financial problems of the country. Indian economy is the 4th largest economy in the world and it is going to be a dominant force in the new world order in near future. Banks are back bone for a common man. Banking services are nowadays becomes part of basic requirements to every individual in India. The economic development of a country in the modern age can be judged from the efficiency of its banking system. Our banks play a vital role in maintaining the stability of price level in the country, selling the bills of exchange by mobilizing the savings of the nations in this global economy. In this paper an attempt is made to identify the role of banking sector, trends in banking sector& challenges behind Indian Banking Industry and concludes the need of emphasis required in the Indian banking services and marketing strategies in order to get sustainable competitive edge over the intense competition from national and global banks.
Keywords:
Banking Sector; Economic Development; Economic stability; Globalisation
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