IB PROJECT REPORT
ON THE INDIAN
BANKING
INDUSTRY
Table of Contents
Introduction.........................................................................................................3
Market Analysis..................................................................................................4
Phases Of The Banking Industry Lifecycle......................................................6
SWOT Analysis...................................................................................................8
PESTLE Analysis of Indian Banking Industry..............................................11
Key Trends.........................................................................................................15
Competition in The Indian Banking Industry...............................................16
Labour Conditions............................................................................................19
Financial and Financing Issues of a Bank......................................................24
Future Landscape of Indian Banking Industry.............................................29
References..........................................................................................................32
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Introduction
The Indian banking system is financially stable and resilient to the shocks that may arise due
to higher non-performing assets (NPAs) and the global economic crisis, according to a stress
test done by the Reserve Bank of India (RBI). Significantly, the RBI has the tenth largest gold
reserves in the world after spending US$ 6.7 billion towards the purchase of 200 metric
tonnes of gold from the International Monetary Fund (IMF) in November 2009. The purchase
has increased the country's share of gold holdings in its foreign exchange reserves from
approximately 4 per cent to about 6 per cent. In the annual international ranking conducted by
UK-based Brand Finance Plc, 20 Indian banks have been included in the Brand Finance
Global Banking 500. In fact, the State Bank of India (SBI) has become the first Indian bank
to be ranked among the Top 50 banks in the world, capturing the 36th rank, as per the Brand
Finance study. The brand value of SBI increased from US$ 1.5 billion in 2009 to US$ 4.6
billion in 2010. ICICI Bank also made it to the Top 100 list with a brand value of US$ 2.2
billion. The total brand value of the 20 Indian banks featured in the list stood at US$ 13
billion .The current market structure in the Indian banking industry falls under the
monopolistic competition type. This implies that there are numerous firms in the industry,
each selling similar or the same products, but presented to the consumers as entirely different
products. Post liberalization, the numbers of banks in the Indian context have increased
rapidly. Governmental barriers to the same have been removed, and the market itself has
imposed minor barriers.
Financial Sector Reforms set in motion in 1991 have greatly changed the face of Indian
Banking. The banking industry has moved gradually from a regulated environment to a
deregulated market economy. The market developments kindled by liberalization and
globalization have resulted in changes in the intermediation role of banks. The pace of
transformation has been more significant in recent times with technology acting as a catalyst.
While the banking system has done fairly well in adjusting to the new market dynamics,
greater challenges lie ahead. WTO and Basel II, the Free Trade Agreements (FTAs) such as
with Singapore, may have an impact on the shape of the banking industry. Banks will also
have to cope with challenges posed by technological innovations in banking. Banks need to
prepare for the changes. In this context the need for drawing up a Road Map to the future
assumes relevance.
Commercial Banks, Co-operatives and Regional Rural Banks are the three major segments of
rural financial sector in India. Rural financial system, in future has a challenging task of
facing the drastic changes taking place in the banking sector, especially in the wake of
economic liberalization. There is an urgent need for rural financial system to enlarge their
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role functions and range of services offered so as to emerge as "one stop destination for all
types of credit requirements of people in rural/semi-urban centres.
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Market Analysis
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SWOT Analysis
Streangths
Indian banks have compared favourably on growth, asset quality and profitability with other
regional banks over the last few years. The banking index has grown at a compounded annual
rate of over 51 per cent since April 2001 as compared to a 27 per cent growth in the market
index for the same period.
Policy makers have made some notable changes in policy and regulation to help strengthen
the sector. These changes include strengthening prudential norms, enhancing the payments
system and integrating regulations between commercial and co-operative banks.
Bank lending has been a significant driver of GDP growth and employment.
Extensive reach: the vast networking & growing number of branches & ATMs. Indian
banking system has reached even to the remote corners of the country.
The government's regular policy for Indian bank since 1969 has paid rich dividends with the
nationalisation of 14 major private banks of India.
In terms of quality of assets and capital adequacy, Indian banks are considered to have
clean, strong and transparent balance sheets relative to other banks in comparable economies
in its region.
India has 88 scheduled commercial banks (SCBs) - 27 public sector banks (that is with the
Government of India holding a stake)after merger of New Bank of India in Punjab National
Bank in 1993, 29 private banks (these do not have government stake; they may be publicly
listed and traded on stock exchanges) and 31 foreign banks. They have a combined network
of over 53,000 branches and 17,000 ATMs. According to a report by ICRA Limited, a rating
agency, the public sector banks hold over 75 percent of total assets of the banking industry,
with the private and foreign banks holding 18.2% and 6.5% respectively.
Foreign banks will have the opportunity to own up to 74 per cent of Indian private sector
banks and 20 per cent of government owned banks.
Weaknesses
PSBs need to fundamentally strengthen institutional skill levels especially in sales and
marketing, service operations, risk management and the overall organisational performance
ethic & strengthen human capital.
Old private sector banks also have the need to fundamentally strengthen skill levels.
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The cost of intermediation remains high and bank penetration is limited to only a few
customer segments and geographies.
Structural weaknesses such as a fragmented industry structure, restrictions on capital
availability and deployment, lack of institutional support infrastructure, restrictive labour
laws, weak corporate governance and ineffective regulations beyond Scheduled Commercial
Banks (SCBs), unless industry utilities and service bureaus.
Refusal to dilute stake in PSU banks: The government has refused to dilute its stake in PSU
banks below 51% thus choking the headroom available to these banks for raining equity
capital.
Impediments in sectoral reforms: Opposition from Left and resultant cautious approach
from the North Block in terms of approving merger of PSU banks may hamper their growth
prospects in the medium term.
Opportunity
The market is seeing discontinuous growth driven by new products and services that include
opportunities in credit cards, consumer finance and wealth management on the retail side, and
in fee-based income and investment banking on the wholesale banking side. These require
new skills in sales & marketing, credit and operations.
banks will no longer enjoy windfall treasury gains that the decade-long secular decline in
interest rates provided. This will expose the weaker banks.
With increased interest in India, competition from foreign banks will only intensify.
Given the demographic shifts resulting from changes in age profile and household income,
consumers will increasingly demand enhanced institutional capabilities and service levels
from banks.
New private banks could reach the next level of their growth in the Indian banking sector by
continuing to innovate and develop differentiated business models to profitably serve
segments like the rural/low income and affluent/HNI segments; actively adopting acquisitions
as a means to grow and reaching the next level of performance in their service platforms.
Attracting, developing and retaining more leadership capacity
Foreign banks committed to making a play in India will need to adopt alternative
approaches to win the race for the customer and build a value-creating customer franchise
in advance of regulations potentially opening up post 2009. At the same time, they should
stay in the game for potential acquisition opportunities as and when they appear in the near
term. Maintaining a fundamentally long-term value-creation mindset.
reach in rural India for the private sector and foreign bank
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With the growth in the Indian economy expected to be strong for quite some timeespecially in its services sector-the demand for banking services, especially retail banking,
mortgages and investment services are expected to be strong.
the Reserve Bank of India (RBI) has approved a proposal from the government to amend
the Banking Regulation Act to permit banks to trade in commodities and commodity
derivatives.
Liberalisation of ECB norms: The government also liberalised the ECB norms to permit
financial sector entities engaged in infrastructure funding to raise ECBs. This enabled banks
and financial institutions, which were earlier not permitted to raise such funds, explore this
route for raising cheaper funds in the overseas markets.
Hybrid capital: In an attempt to relieve banks of their capital crunch, the RBI has allowed
them to raise perpetual bonds and other hybrid capital securities to shore up their capital. If
the new instruments find takers, it would help PSU banks, left with little headroom for raising
equity. Significantly, FII and NRI investment limits in these securities have been fixed at
49%, compared to 20% foreign equity holding allowed in PSU banks.
Threats
Threat of stability of the system: failure of some weak banks has often threatened the
stability of the system.
Rise in inflation figures which would lead to increase in interest rates.
Increase in the number of foreign players would pose a threat to the PSB as well as the
private players.
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Political factors
In India the focus of the policy makers is not solely on growth, but on sustained growth. This
requires a growth rate which is accompanied by moderate levels of inflation and a
manageable fiscal deficit. The key here lies in maintaining the balance between growth and
monetary tightening. The baseline projection of WPI for FY11 stands at 5.5% which would
require significant monetary tightening. Structural reforms also do affect the banking industry
significantly, there were a number of key policy developments in the banking sector during
fiscal 2010. In continuation of the liberalization of the bankingsector,inJune2009,bankswere
allowed to open offsite ATMs without prior approval from RBI. The branch authorization
policy was also liberalized in December 2009 and banks were allowed to open branches in
Tier III-VI cities without prior RBI approval. In August 2009, RBI also issued guidelines
relating to the issuance and operation of mobile phone based pre-paid payment instruments.
In July 2009, RBI issued a time schedule for the introduction of advanced approaches of the
Basel II framework in India whereby banks are required to apply to RBI for migration to
internal models approach for market risk band the standardized approach for operational risk
earliest by April 1, 2010 and for advanced measurement approach for operational risk and
internal ratings based approaches for credit risk earliest by April 1, 2012. RBI also initiated
several measures to increase systemic transparency and customer convenience. In April 2010,
RBI issued guidelines directing banks to replace the benchmark prime lending rate system
with a base rate systemeffectiveJuly2010.The guidelines recommend calculating the base rate
taking into consideration cost elements that can be clearly identified and are common across
borrowers. RBI also issued guidelines revising the method of payment of interest on savings
accounts to a daily average basis effective April 1, 2010.During fiscal 2010, with an
improvement in market conditions, RBI also initiated several measures to maintain systemic
stability. In November 2009, the provisioning requirement for advances to commercial real
estate classified as standard assets was increased from 0.4% to 1.0%. In December 2009, RBI
directed banks to achieve a total provisioning coverage ratio of 70% by September 2010. In
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February 2010, in its master circular on capital adequacy, RBI increased the capital
requirements relating to securitization exposures and provided enhanced guidance on
valuation adjustments for illiquid investment and derivatives. The guidelines also increased
disclosure requirements for credit risk mitigations and securitized exposures
Government and RBI policies affects the banking sector sometimes looking into the political
advantage in a particular party the govt. declares some measures to their benefits like waver
of
short
term
agricultural
loans,
to
attract
the
farmers
votes.
By doing so the profits of the bank get lower down. Various banks in the cooperative sector
are open and run by the politicians. They exploit these banks for their benefits. Various
chairmens of the bank are appointed by the government. Various policies are framed by the
RBI looking at the present situation of the country for better control over he banks.
Economic factors
Banking is as old as authentic history and the modern commercial banking are traceable to
ancient times. In India banking has been existed in one form or the other from time to time.
The
present
era
in
banking
may
be
taken
to
have
commenced
with establishment of bank of Bengal in 18089 under the government charter and with
government participation in share capital. Allah bad bank was started in the year 1865 and
Punjab national bank in 1895, etc Every year RBI declares its 6 monthly policy and
accordingly the various measures and rates are implemented which has impact on the
banking. Also the union budget affects the banking sector to boost the economy by giving
certain concessions or facilities. If in budget savings are encouraged more deposits will
attract the banks and in turn they can lend more money to the agricultural sector and
industrial sector, therefore booming the economy. If the FDI limits are relaxed then more FDI
are brought in India through banking channels.
Social factors
Before nationalization of the banks the control of banks were in the hands of the private
parties and only big business houses and the effluent sections of the society were getting
benefits of banking in India. In 1969 government nationalized 14 banks. To adopt the social
development in the banking sector it was necessary for speedy economic progress consistent
with social justice in democratic political; system which is free from domination of law and
in which opportunities are open to all. Accordingly with national and social objective bankers
were given direction to help economically weaker section of the society and also provide
need based finance to all the sectors of the economy with flexible and liberal attitude. Now
the banks provide various types of loan to farmers, working women, professionals, and
traders. Also on apart from the recently education loan to the students and housing loans,
consumer loans, etc... Banks having big client or big companies say reliance etchave to
provide something like personalized banking to their clients because these customers do not
believe in running about and waiting in queues and getting their work done. The bankers have
to provide these customers with special provisions and also at times benefits like food and
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organize parties for them. But the banks do not mind incurring these costs because of the kind
of business these clients bring for the bank
Technological factors
Indian banking industry, today is in the midst of an IT revolution .A combination of
regulatory and competitive reasons have led to increasing importance of total banking
automation
in
the
Indian
Banking
Industry.
Information Technology has basically been used under two different avenues in Banking. One
is Communication and Connectivity and other is Business Process Reengineering.
Information technology enables sophisticated product development, better market
infrastructure, implementation of reliable techniques for control of risks and helps the
financial intermediaries to reach geographically distant and diversified markets.
In view of this, technology has changed the contours of three major functions performed by
banks, i.e., access to liquidity, transformation of assets and monitoring of risks. Further,
Information technology and the communication networking systems have a crucial bearing
on the efficiency of money, capital and foreign exchange markets.
The first set of applications that could benefit greatly from the use of technological advances
in the computer and communications area relate to the Payment systems which form the
lifeline of any banking activity. The process of reforms in payment and settlement systems
has gained momentum with the implementation of projects such as NDS ((Negotiated
Dealing System), CFMS (Centralised Funds Management System) for better funds
management by banks and SFMS (Structured Financial Messaging Solution) for secure
message transfer. This would result in funds transfers and funds-related message transfer to
be routed electronically across banks using the medium of the INFINET. Negotiated dealing
system (NDS), which has become operational since February 2002 and RTGS (Real Time
Gross Settlement system) scheduled towards the end of 2003 are other major developments in
the area.
Internet has significantly influenced delivery channels of the banks. Internet has emerged as
an important medium for delivery of banking products & services. Detailed guidelines of RBI
for Internet Banking has prepared the necessary ground for growth of Internet Banking in
India
Legal factors
The recent enactments like amendments to Debt Recovery Tribunal (DRT) procedures and
passage of Securitisation and Reconstruction of Financial Assets and Enforcement of Security
Interest Act, 2002 (SARFAESI Act) have helped to improve the climate for recovery of bank
dues, their impact is yet to be felt at the ground level. It would be necessary to give further
teeth to the legislations, to ensure that recovery of dues by creditors is possible within a
reasonable time. The procedure for winding up of companies and sale of assets will also have
to be streamlined.
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In the recent past, Corporate Debt Restructuring has evolved as an effective voluntary
mechanism. This has helped the banking system to take timely corrective actions when
borrowing corporates face difficulties.
With the borrowers gaining confidence in the
mechanism, it is expected that CDR setup would gain more prominence making NPA
management somewhat easier. It is expected that the issue of giving statutory backing for
CDR system will be debated in times to come. In the emerging banking and financial
environment there is an increased need for self-regulation owing to which the role of Indian
Banks Association has become more pronounced as a self regulatory body.
Environmental factors
The advent of liberalization and globalization has seen a lot of changes in the focus of
Reserve Bank of India as a regulator of the banking industry. De-regulation of interest rates
and moving away from issuing operational prescriptions have been important changes. The
focus has clearly shifted from micro monitoring to macro management. Supervisory role is
also shifting more towards off-site surveillance rather than on-site inspections. The focus of
inspection is also shifting from transaction-based exercise to risk-based supervision
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Key Trends
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While entry of foreign banks is bound to affect the overall competitive situation in the
market, much depends on the policy of the sovereign in regard to their entry/expansion, the
existing share of domestic banks, etc. One of the main thrusts of the banking sector reforms
in India has been to introduce more competition in the banking industry. With regard to
mergers, only very few foreign banks operating in India have gone through the process of
global mergers. The impact of megamergers taking place at the global level on the
competitive position of the Indian banking system has been minor, in view of foreign banks
limited share in the financial system. At the same time, foreign banks have the potential, even
without megamergers, to improve their market share, given their use of sophisticated
technology and capability of introducing innovative products.
Other competititors which affect banking sector in some way are:
Post offices
Mutual fund
Share market
Insurance
Money lenders
Family and Friends
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Labour Conditions
Human Resources Management
In the recent past the human resource Policies in banks were mainly guided by the concept of
permanent employment and its necessary concomitants of creating career paths, terminal
benefits, etc. for the employees. In todays fast-changing world of employee mobility both
horizontally and vertically and value systems, the public sector banks need to hire the right
talent at market related compensation and to shed surplus manpower/staff. Thus many banks
are going for URS schemes to reduce the burden of excessive staff. Schemes like VRS are
going to change the nature of workforce with many senior and experienced persons opting for
it. The key elements that shall provide a competitive edge to banking sector will not be
physical assets but knowledge assets and information. Therefore, banks must understand how
to retain knowledge based employees and prevent them to migrating to some other
organization. Banks must believe in people, customer orientation, and continuous
improvement of excellence. Therefore it becomes necessary for banks to encourage all
employees to take risks and work towards continuous improvements and breakthroughs.
Successful banks overcoming the challenges will be those that harness technology in a
customer friendly yet cost effective way. This requires enormous internal and external
management and the crux of the solution lies in blending human resources with information
technology. In the days to come, banks are expected to play a very useful role in the
economic development and the emerging market will provide ample business opportunities to
harness. Human Resources Management is assuming to be of greater importance. As banking
in India will become more and more knowledge supported, human capital will emerge as the
finest assets of the banking system. Ultimately banking is people and not just figures.
veins, ulcers, nausea, headaches, and skin diseases as well as reproductive problems such as
miscarriages, stillbirths, birth defects, infertility, menstrual problems and low sperm counts
have been very extensively documented (Labour Research Department, 1985). However,
none of the bank employees had been given any health training.
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To improve customer service and provide greater access to bank personnel, banks are establishing
centralized phone centers, staffed mainly by customer service representatives. Employees of phone
centers spend most of their time answering phone calls from customers and must be available to work
evening and weekend shifts .Administrative support employees may work in large processing
facilities, in the banks' headquarters, or in other administrative offices. Most support staff work a
standard 40-hour week; some may work overtime. Those support staff located in the processing
facilities may work evening shifts.
Commercial and mortgage loan officers often work out of the office, visiting clients, checking out
loan applications, and soliciting new business. Loan officers may be required to travel if a client is out
of town, or to work evenings if that is the only time at which a client can meet. Financial service sales
representatives also may visit clients in the evenings and on weekends to go over the client's financial
needs.
The remaining employees located primarily at the headquarters or other administrative offices usually
work in comfortable surroundings and put in a standard workweek. In general, banks are relatively
safe places to work. In 2002, cases of work-related injury and illness averaged 1.5 per 100 full-time
workers, among the lowest in the private sector, where the rate was 5.3.
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Syndicate
1000
Bank
Probationary
Clerks
Aryavart
Gramya
130
Bank
(AGB)
40 Officials
&
90
Probationary
Clerks
Central
Bank of500
India
Probationary
Officers
HDFC
Bank
Team Leader,
Service
Support
Various
Managers,
designations Sales
Manager,
Branch
Heads, etc
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affiliated
university
with
switch to another bank. The rate a bank must pay to borrow will go up rapidly with the
slightest suspicion of trouble. If there is serious doubt, it will be unable to borrow at any rate,
and will go under. In recent years, large banks have been making increasing use of asset
management in order to enhance liquidity, holding a larger part of their assets as securities as
well as securitizing their loans to recycle borrowed funds.
The credit worthiness of banks is assessed and frequently revised by Credit Rating agencies
like ICRA and CRISIL.
Bank Capital
A bank's capital is equal to its assets minus its liabilities. It is the margin by which its
creditors would be covered if assets were liquidated and its liabilities paid off. A measure of
a bank's financial health is its capital/asset ratio, which is required to be above a prescribed
minimum.Many banks raise capital by the way of issuing IPOs in the stock market.
However, the funds raised by the banks through equity are much less than those which are
there in the bank by the way of Deposits of the customers.
The minimum capital is specified as a percentage of the risk-weighted assets of the bank.
The following table shows the weight assigned to each type of asset.
Asset
Risk Weight
Government securities
Interbank loans
0.2
Mortgage loans
0.5
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Ordinary loans
1.0
1.0
The BIS rules set requirements on two categories of capital, Tier 1 capital and Total capital:
Tier 1 capital is the book value of its stock plus retained earnings. Tier 2 capital is
loan-loss reserves plus subordinated debt. Total capital is the sum of Tier 1 and Tier 2
capital.
Tier 1 capital must be at least 4% of total risk-weighted assets. Total capital must be
at least 8% of total risk-weighted assets.
Subordinated debt is long term debt that, in case of insolvency, is paid off only after
depositors and other creditors have been paid. Thus it can be used like equity to provide
those creditors some protection against insolvency.
Leverage Requirement
The leverage requirement on banks is based on the unweighted sum of all balance sheet
assets. Off-balance sheet assets such as standby letters of credit are not counted. The
minimum allowable ratio of Tier 1 capital to total assets is 3%. Bank regulators can increase
that to as much as 6% depending on the quality of a banks assets. No leverage requirement
is specified for total capital.
Asset-Liability Management
Active management of a bank's balance sheet is to maintain a mix of loans and deposits
consistent with its goals for long-term growth and risk management. Banks, in the normal
course of business, assume financial risk by making loans at interest rates that differ from
rates paid on deposits. Deposits often have shorter maturities than loans and adjust to current
market rates faster than loans. The result is a balance sheet mismatch between assets (loans)
and liabilities (deposits).
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The function of asset-liability management is to measure and control three levels of financial
risk: interest rate risk (the pricing difference between loans and deposits), credit risk (the
probability of default), and liquidity risk (occurring when loans and deposits have different
maturities).
A primary objective in asset-liability management is managing Net Interest Margin (NIM) ,
that is, the net difference between interest earning assets (loans) and interest paying liabilities
(deposits) to produce consistent growth in the loan portfolio and shareholder earnings,
regardless of short-term movement in interest rates. The dollar difference between assets
(loans) maturing or repricing and liabilities (deposits) is known as the rate
sensitivity gap (or maturity gap). Banks attempt to manage this asset-liability gap by pricing
some of their loans at variable interest rates.
A more precise measure of interest rate risk is duration , which measures the impact of
changes in interest rates on the expected maturities of both assets and liabilities. In essence,
duration takes the gap report data and converts that information into present-value worth of
deposits and loans, which is more meaningful in estimating maturities and the probability that
either assets or liabilities will reprice during the period under review. Besides financial
institutions, nonfinancial companies also employ asset-liability management, mainly through
the use of derivative contracts to minimize their exposures on the liability side of the balance
sheet.
Mergers And Acquisitions
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The traditional banking functions would give way to a system geared to meet all the financial
needs of the customer. We could see emergence of highly varied financial products, which are
tailored to meet specific needs of the customers in the retail as well as corporate segments.
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The advent of new technologies could see the emergence of new financial players doing
financial intermediation.
Retail lending will receive greater focus. Banks would compete with one another to provide
full range of financial services to this segment. Banks would use multiple delivery channels
to suit the requirements and tastes of customers .While some customers might value
relationship banking (conventional branch banking), others might prefer convenience banking
(e-banking).
Structure and ownership pattern would undergo changes. There would be greater presence of
international players in the Indian financial system. Similarly, some of the Indian banks
would become global players. Government is taking steps to reduce its holdings in Public
sector banks to 33%. However the indications are that their PSB character may still be
retained. If the process of consolidation through mergers and acquisitions gains momentum,
we could see the emergence of a few large Indian banks with international character. There
could be some large national banks and several local level banks.
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Banks approach to the rural lending will be guided mainly by commercial considerations in
future.
Similarly, Banks will look analytically into various processes and practices as these exist
today and may make appropriate changes therein to cut costs and delays. Outsourcing and
adoption of BPOs will become more and more relevant, especially when Banks go in for
larger volumes of retail business.
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