RETAIL BANKINGIN INDIA: THE VIBRANT FUNCTIONAL TOOL FOR INCLUSIVE GROWTH

Abstract

Retail banking industry is not a new phenomenon for the Indian banking industry. Retail banking is the typical mass-market banking in which individuals customer use local branches of large commercial banks. It offered various services include savings and checking accounts, mortgages, personal loan, debit/credit cards and certificate of Deposits(CDs). Retail banking aims to be the one- stop shop for as many financial services as possible on behalf of retail clients. Today’s retail banking must battle it out to win the most attractive customer segment and increase their share of  existing customer’s wallets, in order to grow profitability in a difficult market. Retail banking faces stiff competition to sustain in the market and it has a vast growth prospects in future. This present study is an attempt to highlight the concept of retail banking and its future strategies in the context of Indian retail banking industry