Which growth area holds the maximum promise for banking industry?
Retail banking. Today, it is corporate banking, no doubt, but corporate customers have other alternatives. Morever, the field is becoming highly competitive. But retail banking is the only area where banks can provide services for consumer banking, retail deposits, advances, shares, etc. These are all growth areas. How deep do you think foreign banks will penetrate in India? I feel foreign banks will remain on the periphery. They will look at metros, cities, towns and port-towns. They will concentrate on export-import business. Do you agree that banking services have by and large improved after the advent of foreign banks in India? Yes definitely. See, no one likes to be called “useless”. Generally, people tend to shape up in the face of competition. The presence of banks with global-scale exposure in India is bound to improve the general attitude to work in all banks. So will computerisation. What other services will Indian banks offer in the days to come? The Gold Bonds Scheme has be
