Banking Solutions For Customer Convenience

When you think about Banking services, what do you think of first? Which aspects of Banking services are important, which are essential, and which ones can you take or leave? You be the judge.


When Banking begun of for Independent India, you had Nationalized and regional banks help the countrys finances. As the years progressed you had more branches opening up. The 80s and 90s proverb a whole pool of Global Banks like Standard Chartered, Barclays, Grindlays opening their banks improvement in India. Still banking didnt seem to be convenient. The modus of transaction was pretty gloomy and boring with people having to wait their turns to visit the tellers counter to complete their transactions. With technology coupled with the internet coming into play banking solutions have become more custom made for the average consumer. Online Banking ensures that a person is tuned completely with his finances at any given point from any part of the world. Ditto for mobile banking. The last couple of decades again saw lousy with Indians migrate abroad on a bid to pursue their lives and carrier. Getting monetary transactions wasnt easy then. Postal services and courier faux passes werent that convincing. Now with banks offering many solutions NRI Banking has also been made easier.

Various facilities for NRI Banking consist of NRI Savings account, NRI Term Deposits and provision to remit money to India. Mobile Banking and Online Banking and offer Mobile bill payment and online bill payments respectively. Characteristic business banking ensures commercial as well as retail banking services. In Commercial Banking, various corporate entities and major industrial houses are liable to be offered loans to stem with their business and financial commitments. This kind of banking is generally profitable as it includes a large amount of money.

Truthfully, the only difference between you and Banking services experts is time. If you'll invest a little more time in reading, you'll be that much nearer to expert status when it comes to Banking services.

Incase of retail banking services which is basically mass marketing business transactions, direct responsibility veil individuals which includes loans, various accounts and deposits, and locker facilities banks look to improve their consumer base. Establishing good customer relationship strengthens your financial hateful as with every major process that you incorporate via your customers adds to your treasury. As of now the Retail section is undergoing a strain courtesy the recession. The failure to repay debts has seen the fall of global financial houses. For it is very important that a thorough examination is done to ensure know your customer ( KYC ) norms prior to issuing major loans.

Banks also provide special facilities to their HNI ( High net peculiar ) worth customers. These people generally have a crowded charge invested with the financial crib and indulge in hefty transactions. They are provided with world class banking facilities termed as Priority Banking and Key Banking, both words justifying their meaning. Savings account for the average investor has also been made easier where you no longer need a referral to open an account or minimum balance to save in your account ( * condition applies in both cases ). Currently the major Global players in the Indian Finance Sector include Standard and Chartered, HSBC and Barclays. Banks of Indian origin that have gradually made waves include ICICI, HDFC, SBI and Axis Bank. All in all modern trick banking has every element that ensures Cash Management Services for the longer run.

That's how things stand right now. Keep in mind that any subject can change over time, so be sure you keep up with the latest news.