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Archive for the ‘Business Banking’ Category

Use this report to…

Understand how retail industry is growing

What are strategies taken by retail bank companies and their comparison thereof?

and much more……

INTRODUCTION

Retail banking in India has fast emerged as one of the major drivers of the overall banking industry and has witnessed enormous growth in the recent past. The Retail Banking Report encompasses extensive study & analysis of this rapidly growing sector. It primarily covers analysis of the present status, current trends, major issues & challenges in the growth of the retail banking sector. This report helps in Banks, financial institutions, MNC Banks, academicians, consultants and researchers to have a better understanding of the booming opportunities in retail banking in India.

MAJOR FINDINGS

With recession departing away from away global economy, opportunities are slowly emerging in emerging markets. Since emerging markets, except China, were less depending upon US for growth; are first to come out of recession eclipse. Growth opportunities in banking, especially retail segment is set to witness fast growth due to high consumption. The higher growth of retail lending in emerging economies is attributable to fast growth of personal wealth, favourable demographic profile, rapid development in information technology, the conducive macro-economic environment, financial market reforms, and several micro-level supply side factors.

The retail banking strategies of banks are undergoing major transformation, as banks adopt a mix of strategies like organic growth, acquisitions and alliances. This has resulted in a paradigm shift in the marketing strategies of the banks. Public Sector Banks players are adopting aggressive strategies, leveraging their rural branch network and their customer vase to earn a larger share of the retail pie. Banks are also going in for innovative strategies like cross selling, packaged selling of retail products and technology based banking. At the same time, new foreign players are also entering this high growth sector

POINTS DISCUSSED

* Global retail banking vis-à-vis Indian scenario

* Indian retail banking overview

* What are the regulatory factors involved in Indian banking industry

* How interest rate risks, money laundering, and outsourcing are affecting the performance of banking sector?

* What would be the impact of Basel-II norms in Indian banking industry?

* What are the implications of SARFESI Act on recovery of money?

* How the banking industry would combat the competition from upcoming sectors like mutual funds?

* What are the various issues and challenges before this industry?

* What are strategies taken by retail bank companies and their comparison thereof?

For more information please contact :



http://www.aarkstore.com/reports/Retail-Banking-in-India-37940.html

http://blogs.aarkstore.com/

From:Aarkstore Enterprise

Contact: Neel

Email: press@aarkstore.com

URL: www.aarkstore.com

When you own a business your choice of bank is a vital decision that needs careful deliberation. Fundamentally your bank should be more than just a place to store your finances; it should make your business operations easier and your financial situation simpler to manage. In addition, your bank should be able to offer essential information, guidance and advice on all manner of business problems.

To build a fruitful relationship with your bank there are two important factors that should be present at all times; these are the integrity and services on offer. While online services are now par for the course in modern business banking, the quality of these services can vary immensely. Ultimately the reason you pay your banking charges is to reduce the time spent on administrative financial responsibilities.

Essentially important when selecting a bank to care for your business finances is how secure the institution is. Ideally you want to see an institution that has a long history of financial security and management of businesses in a variety of industry sectors. If the bank has a history of terminating relationships and contracts unexpectedly it may be worth avoiding their services.

Fees and charges are naturally a vital consideration of any business when entrusting finances to a bank. Investigating how overdraft fees and loans are calculated is obviously important, but it is also worth looking into factors such as maximum withdrawal amounts and interest rates. In addition to these considerations it is important to take note of how easy it is to contact a bank; for instance asking how many branches there are as well as what are the hours of phone and internet banking are both essential questions that must be answered. Another important question concerns the security put in place for internet banking provisions.

It is normal that when striking up a relationship with a bank they will want to see a detailed business plan. At this stage it is important for the banking staff to understand and support your aspirations. If they have a true understanding of your vision, the support they can give will be that much greater; progress naturally comes hand in hand with cooperation, having the bank on side can augment your efforts and result in progression. This support usually comes in the form of a business advice team that is on hand to deal with any problems that may arise; if however your business operates in a specific industry sector, having a team that has knowledge of this sector can be extremely useful.

The issue of specialist knowledge is contentious in many banking circles. While some major banks have the provisions to devote resources to creating departments for all manner of industry sectors, smaller banks do not. For instance, one major bank has now opened a department that is purely there to cope with the needs of the wine making industry.

In many cases the bank will be lending money to help a business start up operations. As a lender the bank will want certain sureties that the business will do all it can to succeed. This where it is vital to build a good relationship with the account manager, if they have intimate knowledge of your operations and can put a face to a name, the fact they are lending huge sums of money is a smaller pill to swallow.

Hopefully this information will supply the small business owner with the knowledge they need to find a bank that supports their needs perfectly. Remembering to always keep the bank informed of changes and being cordial at all times is essential. A good relationship with the bank will create solid financial base for any business.

Non-conforming business financing, also known as creative financing, is available to business owners who are unable to secure funding from traditional lenders, such as commercial banks. Non-traditional financial companies typically provide this type of financing for start-up and operating expenses for any business.

Most non-conforming business financing options provide leasing for computer, construction, medical, and heavy equipment. With this funding method, entrepreneurs can obtain the necessary equipment needed to start or maintain their businesses. Most leases are for three to five years, which is about the lifespan of most computers and other advanced equipment. Therefore, instead of purchasing equipment that is obsolete within a few years, leasing allows businesses to obtain new machines once current leases are expired. Most leased equipment is also tax exempt.

Financial companies may also offer non-conforming business financing in the form of loans. These loans may not require as much financial documentation as traditional loans; therefore, they are much easier to obtain. Because these loans are few application requirements, borrowers tend to be individuals with poor credit histories. This makes non-conforming business loans have much higher interest rates than typical funding methods. Most of these financing options are unsecured loans, which means that the lender relies on the borrower’s signed promise to pay instead of collateral. Funding may be used for any general business purpose unless specified otherwise. Common non-conforming business financing options include construction, land, hard money, and purchase loans.

Non-traditional banking is usually offered by independent financial companies to assist businesses and individuals with matters that traditional commercial banks do not offer. While these companies may provide many of the same services, such as ATMs and checking accounts, as banks, they mostly deal with the selling of mutual funds, annuities, stocks, and bonds. These companies may also offer debt and credit counseling to individuals. To compete with these companies, many banks now offer many of the same services.

Many Internet-based financial companies also provide non-traditional banking. Some companies focus on one aspect of non-traditional banking, such as stocks, while others encompass all aspects. There are many sites available that allow stockholders to access stock reports and buy and sell shares for affordable monthly fees. These sites may also provide in-depth reports on the progress of shares owned by an individual and give beneficial advice on how to manage those stocks.

For individuals and businesses in financial crises, non-traditional banking can provide the financial counseling needed to restore credit ratings. Non-traditional bankers may also provide seminars or other helpful resources to help people manage and improve their debt situations. Some companies may provide these services free-of-charge to members, while others may charge one-time or monthly payments to compensate for the financial advice.

Other services provided by banks and other financial companies that may be considered non-traditional banking are online bill pay and opening new accounts via the Internet.