Millennial and Retail Banking Trends in India

Abstract

The banking industry has a direct impact on the economy and growth of the nation. A bank is now one of the most important aspects of modern life. In order to conduct financial activities, customers and banks have a strong interaction. Retail banking is one of the significant current phenomena’s among the several advantages provided by the banking industry to the customers. Typically, the common masses are the intended consumer for retail banking services, and they gradually advance to a stage known as "class retail banking." The stage in which the bank offers its customers standardized banking products and services is known as "mass retail banking." During this period, the banks make an effort to develop a sizable enough customer base that can act as a reliable source of finance