*Assistant Professor, Department of Commerce, Karnatak University, Dharwad
**Assistant Professor, Department of Commerce, University College of Arts Tumkur University, Tumkur
Online published on 7 April, 2014.
Commercial banks serve the financial needs of individuals in a variety of different ways. Banks provide a number of saving plans to allow individuals to earn interest on idle funds and safe deposit facilities to provide a secure storage for important documents and valuables.
Retail banking in India is not a new phenomenon. It has always been prevalent in India in various forms. For the last few years it has become synonymous with mainstream banking for many banks. Studies of the retail banking market reveal that one of the most important considerations in the choice of a bank by the average individual is convenience of location. This means that location advantages play an important role in retail marketing strategy for commercial banks.
Today, banks are offering value addition in the form of insurance products as standalone or hybrid-linked products both in the life and general insurance. They also offer different mutual fund products to their customers. This is an addition to those regular value offerings such as ATM, debit cards, mobile banking, demat services and wealth management solutions.
