What do you think India's retail banking do to compete with its global peers?

In my opinion,Indian banks have very strong position in near future. In fact the reatil division of Indian banks are doing very good. In this scenario, where the corporate sector are showing a disbalanced growth, retail banking is gaining momentum. Infact if we see the liability part is getting very pace in this market.

In technological front, if I say, we are lacking somewher with Foreign banks but if we foresee, technological advancement is very soon expected in this sector as many improvements have taken place in recent past. But , practically if we see the future of retail banking is rural sector where the reach of technology is a challenge. In my opinion, Indian banks should concentrate on that sector to explore that possibility.

Technological advancement is required as well as the employee atitude towards the customers is also required. They should not think them as a burden to them. They should see an opportunity while dealing with the customer. Small small adjustments are required here and there which will make our banks more competitive. They are financially very sound as we have seen but only better technology, attitude towards the customer and teaching the customer how to deal with the banks. Even in the urban cities customers are with the rural backgrounds and they don't know how properly to deal with the bank. Instead of insulting them they should teach them properly. This will make our banking sector more competitive with the foriegn banks.

Honestly at the back of my mind, I feel that our bank Managers' inefficiency and reluctance to lend, placed us in good stead.  Now every one is harping on PVN Rao's strategy that things will work out themselves if no action is taken. 

The US was a leader for a very long time through action and not inaction.  Regulatory mechanism is fine but lack of entrepreneurship will cost us dearly. 

While taking care that mistakes are minimised, it is time for our bankers to come up with many innovative retail products.  It is also time for them to come up with products of global reach.  It is not a bad idea to build a global network of retail subsidiaries of Indian Banks.  Afterall Indian bank is a brand now and why not make use of it. 

The larger the coverage, more stable will be the product.  More comprehensive is a banker's understanding of the customer, better are the features of a product.  After a product is designed, there should be geographic and demographic small changes made to adapt the product for a wider reach.  In any case, I am against a check list approach to anything

Thanks everyone for your wonderful comments.....It is very clear that we need to have technology advancement to compete with them & a better CRM to cater clients properly.........

I believe that Indian Banks are doing a great job ... no less than international banking pattern. Problem is banking being basically urban business ...and population wise village population is more.

It is difficult to bring the illiterate/less literate  vast majority into retail banking network as such it would take some time here... but it would surely be successful.

I agree with Mr.Rajneesh Sharma, due to Regulatary check by RBI, Statutory Audit, Concurrent Audit our Banking system sailed safely in troubled water of recession.

Competing with Gobal Bank at what cost it will end up with large volume of NPAs. But technologicaly we have to improve in our retail banking system to compete with global banking and we have to improve our client relationship by providing immediate response to their needs as foreign banks do.

Strength of Indian Banks is being viewed very strongly in these troubled times by International Banking and Financial Community, as many banks and financial institutions in most developed countries have either failed or are in troubled waters

They are very well placed to compete the Global peers but will have to gain a technological pace, to steer ahead globally