The Icfai University Press on Retail Banking: An Introduction

The banking scenario in India is that of a highly developed nature, even though it is still far away from achieving world standards in terms of size, products and services. Indian banks have realized that with organic growth there is a need to grow inorganically as well, to be competitive with other players in the market. In this scenario, retail banking has been the focus of attention for the banking industry. The emergence of new economies and their rapid growth has been the most important contributing factor in the resurgence of retail banking. Changing lifestyles, fast improvement in information technology and other service sectors, as well as increasing levels of income, have contributed to the growth of retail banking in countries like India that are developing at a good pace. The Indian banks are vying with one another to grab a pie of the retail banking sector which has tremendous potential, as retail loans constitute only 8-9% of GDP in India, whereas it is about 35% in other Asian economies. But retail banking is also having its share of challenges in retention of customers, in introduction of tech savvy facilities and investment in such facilities, security concerns, KYC norms, credit evaluation norms etc. In this context, this book The Icfai University Press on Retail Banking – An Introduction will make a useful reading, as it captures the scenario of retail banking sector in India and the recent developments in the sector in a clear manner. The book presents a series of well-written articles that bring out the essence of the happenings in retail banking in the country.