*Associate Professor, Department of MBA, Sreenivasa Institute of Technology and Management Studies (SITAMS), Chittoor, Andhra Pradesh, India
**Assistant Professor, Department of MBA, Sreenivasa Institute of Technology and Management Studies (SITAMS), Chittoor, Andhra Pradesh, India
Online published on 11 July, 2017.
The important of commercial banks in the process of economical development has been stressed from time to time by the economical thinkers & progressive bankers in the country. Commercial banks play a very important role in our economic, in fact, it is difficult to imagine. How our economic system could foundation efficiently without many of their services. They are the heart of our financial structure, since they have the ability, in cooperation with the Reserve Bank of India.
Today scenario in banking industry has totally changed. There is a significant transaction in Indian banking industry. Cross border flow and entry of new products, particularly derivative instruments, have impacted significantly on the domestic banking factor forcing banks to adjust the product mix, as also to effect rapid changes in their processes and operation in order to remain competitive to the globalize environment. These developments have facilitated greater choice for consumers, who have become more discerning and demanding, compelling banks to offer a broader range of products through diverse distribution channels.
