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Financial Performance of Retail Banking in India
Finance & Accounting
Pages 10 (2510 words)
Financial Performance of Retail Banking in India Introduction Global economy is going through a bad patch in recent times, mainly because of the financial crisis such as debt crisis, Eurozone crisis and bankruptcy of financial institutions in American and European regions.
Amidst all unfavourable global financial climates, India’s Banking Industry, especially the retail banking industry was able to maintain steady growth. “Retail Banking is a banking service that is geared primarily towards individual consumers. Retail banking is usually made available by commercial banks, as well as smaller community banks. Unlike wholesale banking, retail banking focuses strictly on consumer markets”(Dr. Revathy, 2012, p.132). In fact the pace at which the Indian banking industry has grown in recent times has surprised many economists and neutral observers. The growth in Indian banking industry “is evident from the higher pace of credit expansion, expanding profitability and productivity similar to banks in developed markets, lower incidence of non- performing assets and focus on financial inclusion”(Dr. Goyal & Joshi, 2012, p.18). It should be noted that majority of the banking institutions including commercial banks and co-operative banks in India are functioning under the strong control of Reserve Bank of India (RBI). However, a small number of unscheduled cooperative banks are present in India which is functioning almost independently though RBI has some control on such banks. Even strong control of RBI is there, Indian retail banking industry is developing rapidly. ...
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