Indian Banking Sector - Issues, Challenges and the Road Ahead

Authors

  • Jyoti Talreja Jamnani
  • Ajay Jamnani

Keywords:

Banking, Indian Economy, Growth, Technology

Abstract

In the past three decades Indian banking has faced numerous challenges in the form of technology, product innovation, customer expectations and economic slowdown. Indian banking system has been strong enough to handle the challenges and have certain outstanding achievements, one of its major achievements is its extensive reach and ability to serve the ever growing Indian population. This sector offers numerous amenities and prospects towards the growth of the economy. The need to focus on the customer perspective has made slow moving banking sector to adopt a fast track approach. Using internet and technology as a medium the bankers are able to market their products and services which has made players at all levels in the banking industry to gaze at their active portfolio offerings. Traditional banking has protected Indian banks from many crises in the past, but in the modern era Indian banking has been expanding all over which has led to higher valuation of Indian banks as compared to some of the Asian countries. This research focuses on the contributions made by the banking sector to the Indian Economy, the challenges faced and the plans for the future which will lead the economy to new strides of growth.

Published

2022-01-10

How to Cite

Jamnani, J. T. ., & Jamnani, A. . (2022). Indian Banking Sector - Issues, Challenges and the Road Ahead. NOLEGEIN-Journal of Financial Planning and Management, 4(2), 23–35. Retrieved from https://mbajournals.in/index.php/JoFPM/article/view/717