Customer adoption of latest innovative products and services in Indian retail banks

Indian banking industry wore a traditional look until 1991. Traditionally the bank's aim was purpose oriented, but of late it has shifted towards the customer. The financial systems in our country have undergone structural changes. Innovation in banking has become the array of the day and the concept of a bank as a mere manager of liquidity belongs to the past. Increase in competition has thrown up new challenges and clients, raising their prospect continuously, it is becoming increasingly more difficult for banks to retain their customers unless they offer advanced, faster and convenient services. (Lalitha, 2012). To withstand the competition banks have started to depend upon technology. New products like ATM, debit cum credit cards, internet banking, mobile banking have been introduced. But all the products are not acknowledged by the customers in the same manner. So I intend to find out the customer perception, adoption and satisfaction towards various products and services in Indian retail banks through a detailed questionnaire. T-test, perceptional analysis and chi-square has been used to test the data.