Latest Edevelopment in Microfinanc

Banking > Products CLICK FOR LATEST BANKING PRODUCTS | Banks in India allow traditionally offered flock banking products. Most common deposit products being Savings Bank, menses Account, Term deposit Account and lending products being coin Credit and Term Loans. Due to Reserve Bank of India guidelines, Banks have had little to do besides accepting deposits at judge fixed by Reserve Bank of India and lend beat arrived by the formula stipulated by Reserve Bank of India at rates prescribed by the latter. PLR (Prime lending rate) was the benchmark for affaire on the lending products. But PLR itself was, more often than not, laid by RBI. Further, remittance products were limited to issuance of Drafts, Telegraphic Transfers, Bankers run down and Internal Transfer of funds. In view of several developments in the 1990s, the entire banking products structure has undergone a major change. As post of the economic reforms, banking industry has been deregulated and made competitive. New players have added to the competition. IT change has made it possible to provide ease and flexibility in operations to customers. Rapid strides in information technology have, in fact, redefined the role and structure of banking in India.

Further, due to exposure to planetary trends after Information explosion led by Internet, customers - twain Individuals and Corporates - are now demanding better services with more products from their banks. fiscal market has turned into a buyers market. Banks are withal changing with time and are trying to become one-stop fiscal supermarkets. Market focus is shifting from mass banking products to class banking with foundation of value added and customised products. A few foreign & hidden sector banks have already introduced customised banking products like Investment consultatory Services, SGL II accounts, Photo-credit cards, Cash Management services, Investment products and Tax advisory services. A few banks have gone in to market... If you pauperization to get a full essay, order it on our website: Ordercustompaper.com

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