Impact of globalization on the Indian banking sector
Summary :
Table of Contents
- Introduction
- Challenges in the banking sector
- Technology infusion and up gradation challenges
- The benefits vis-a vis costs
- Banking and service quality
- Productivity enhancement-experience so far and lessons learnt
- Technology as a differentiator
- The problems area
- The impact on customers
- Innovation and branding the product
- Conclusion
- Bibliography
Abstract
globalization connotes enhanced connectivity among people across national borders. The nature and pace of globalization will depend on the combined effect of technology and the public policy, both at the national and international level. With the growing integration of economies and the markets around the world, global banking has arrived and is here to stay. globalization will get further fillip with the opening up of financial services under WTO. India, being one of the signatories of financial services agreement of 1997, is poised to expand the reach of its financial services, including banking on a reciprocal basis over many countries.
The process of globalization will also lead to the presence of more international players in the banking arena in India. Similarly, some of the indian banks will become global players. So the banks will perforce spread their net beyond borders in their quest for new markets, customers and profit.
The process of globalization will also lead to the presence of more international players in the banking arena in India. Similarly, some of the indian banks will become global players. So the banks will perforce spread their net beyond borders in their quest for new markets, customers and profit.
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