Knowledge of CRM in emerging Banking System

The introduction of liberalization in service sector changed the Indian consumer's perception a lot. Getting closer to customers and effectively responding to their needs is a great way to boost their loyalty and encourage deeper business relationships. CRM is a simple philosophy that places the customer at the heart of business organizations processes, activities and culture to improve his satisfaction of service and in turn, maximize the profits for the organisation. Therefore it is imperative that Indian banks wakeup to this reality and re-focus on their core asset-the customer. A greater focus on CRM is the only way to the banking industry can protect its market share and boost growth.