Snail Paced Indian Banking Industry Running Super Fast

Released on: February 1, 2008, 10:42 pm

Press Release Author: Shushmul Maheshwari

Industry: Media

Press Release Summary: The Indian banking industry has become one of the rapidly
growing industries in the country due to increasing use of technology and better
customer service.

Press Release Body: Today, the banking industry is counted among the rapidly growing
industries in India. It has transformed itself from a sluggish business entity to a
dynamic industry. The growth rate in this sector is remarkable and therefore, it has
become the most preferred banking destinations for international investors. Fast
pace growth in the Indian banking sector prompted RNCOS, a leading market research
firm, to do a comprehensive research titled, "Booming Indian Retail Banking Sector".

The Indian banking sector is growing at an astonishing pace and recorded a CAGR of
21% from March 2004 to March 2007. The RNCOS study has analyzed the factors that are
giving impetus to the Indian banking industry. In recent years, the Indian banking
sector has acquired a new status by offering new services to people with which they
were completely unaware of in past. One such new service is retail banking and a big
proportion of the Indian youth is reaping benefits from it. The growth in this
segment is a combined effort of the banking industry to offer new facilities such as
investment in mutual funds, credit & debt cards, ATMs, etc. Consequently, more and
more people are gaining from these services. The RNCOS report has given a
comprehensive study on how these new services are shaping the future growth of the
Indian banking sector.

Till few years back, the Indian banking sector was accused for poor customer
service. But now, both public and private banks are paying adequate attention to
improve their customer services and therefore, are increasingly using technology to
make their customer service fast and hi-tech. Mobile and Internet banking are two
fields which reflect use of technology in the banking sector. As per the report, the
Indian banking industry is expected to begin offering mobile banking services, which
will give people freedom from standing in long queues before ATMs.

"Booming Indian Retail Banking Sector" has discussed not only the current status of
the Indian banking sector but also analyzed the future prospects of its various
segments, like Internet banking, retail banking, and loan facilities. Based on
different parameters, the report has given an overview of the future of the Indian
banking sector.

About RNCOS:

RNCOS, incorporated in the year 2002, is an industry research firm. It has a team of
industry experts who analyze data collected from credible sources. They provide
industry insights and analysis that helps corporations to take timely and accurate
business decision in today\'s globally competitive environment.

For more information visit:
Current Industry News:

Web Site:

Contact Details: RNCOS E-Services Pvt. Ltd.
Shushmul Maheshwari
Head of Business Development
29, 1st Floor, Patparganj Industrial Area, Delhi 92

  • Printer Friendly Format
  • Back to previous page...
  • Back to home page...
  • Submit your press releases...