Social media as a way for brand building

Bank‘s communications can no longer ignore the Social Media. According to a study, two-thirds of the global internet population visit social networking sites and the time spent on these sites is growing faster than the overall internet rate. Indian banking industry is booming & is on expansion spree. Indian banks contributed 1.7 per cent to the total global brand value at US$ 14.74 billion and grew by 19 per cent in 2011 as per the annual international ranking conducted by UK-based Brand Finance Plc. According to a recent study done by Buzzom.com, Indian banks whether government or private have started using social media to stay in touch with their customers. The present case study is intended to bring to light as to how the Indian Banks are faring On Social Media with special focus on the new age banks.