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Marketing Strategies in the Indian Banking Service Sector

Marketing Strategies in the Indian Banking Service Sector

Co-authored by Mr. Santosh Kumar Yadav, HOD, Department of Commerce and Management, Indira Gandhi Technological And Medical Sciences University.

Abstract

Indian Banks have recorded a phenomenal growth in the past decade with the initiation
of Economic Reforms. The banks, both Public and Private, have transformed themselves
into profit-oriented business organizations besides playing a developmental role in the
economy. In an attempt to be more profitable, the banks have become competitive and more
customer-oriented. This new orientation has compelled them to take a more pragmatic
approach for conducting the business. Innovation is the key to success for any activity and
technology has become the fuel for rapid change. Innovative banking is possible only when
we have innovative people in banking. Moreover, innovative ideas of such people have to
be heard at the right time by the right people. Only then the needed encouragement and
support is given to convert innovative ideas into reality. Indian banking is also changing its
shape rapidly by adopting innovative technology products and services,
The new technology has radically altered the traditional ways of doing banking business.
Technology plays a prime role in improving the internal working of a bank and ensuring
customers’ satisfaction .It has accelerated Customer –Centric delivery channels services
round the clock.

The paper focus on new and upcoming technology in baking sector, trends in technology
development, tools applicable in banking, impact on service quality of banks etc.

 

Note : This article was published in Technological and Managerial Strategies for
Next Generation Transformation, ISBN: 978-93-86432-66-7. The journal may be downloaded from (external link)  http://www.mangalmay.org/download/Mangalmay-Conference-Proceeding.pdf

Copyright Notice : Copyright of the abstract is vested in Mangalmay Group of Institutions, Greater Noida, 2017. The abstract has been published under fair use. 

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