What r d changes in the banking sector in india???
Answer:
1. Deregulation of Interest Rates (earlier deposit and lending rates were fixed arbirarily by the Reserve Bank of India).
2. Entry of New Private sector banks.
3. Listing of Nationalised banks on the stock exchanges through public issues.
4. Introduction of prudential regulation on the lines of international standards for income recognition, criteria for NPA (non-performing assets) and provision against them, capital afequacy norms, risk based supervision
5. Listing of Indian banks abroad through issues of depository receipts in US.
6. Removal of the bulk of concessional lending quotas
7. Growth of Housing Loans and Consumer Loans
8. Rapid expansion of ATMs (automayed Teller Machines)
9. Expansion of bank Credit cards and Debit Cards
10. Increased in efficiency and service standards because of the intense competetion among new gneration private sector banks and to nationalised banks
11. Rapid introduction of IT technology in banks and facilities of telephone and internet baking
12. Private banking and Wealth management services to high networth clients from banks
13.Issue of tier2 bonds by banks and their trading
14. Growth of international operations by Indian banks
15. Banks assistance to micro-finance institutions
16. Massive exit of old and outdated skills through vountary retirement schmes in old banks and equally massive recruitment of young people by new enterprises to whom banks are outsourcing various kinds of jobs.
17. Banks soliciting depositors and giving home service to high networth clients.
18. Banks competing to get good cleients for giving industrial loans instead of industrial borrowers begging for loans as in the earlier days.
Private banking and international banking has recently arrived.
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