3) Retail Branch Operations
a) Account Opening
b) Fixed Deposits
c) Recurring Deposits
f) Demand Drafts
g) Electronic Fund Transfer
i) E Tax Payments
j) Forex Operations
4) Suggestions and Recommendations
The objectives of the project are:
1) To observe the various product and service offering under retail banking and the other day to day branch operation activities. 2) To observe customer query handling so as to ensure customer satisfaction. 3) To observe and analyse any shortcomings in the branch operations and suggest areas for improvement.
Nature of the Report
The present report is descriptive in nature which attempts to describe the retail branch operations.
The methodology adopted to compile the report was observation. While accompanying a Front Desk officer, observation was made with regards to his working and clarification was asked for in case of doubt.
Retail Banking has come a long way from its earlier days when branches were the only point of contact between the customers and the bank. Earlier, each branch of a bank was a distinct entity in itself and entries were made manually. Manual operation lead to slow processing which resulted into long queues of customers at the branch. As computerisation evolved, most of the processes were done electronically. This led to error free transactions and faster handling of customer requests. Nevertheless, since each branch were standalone entities, customers had to visit their base branch for any transaction. With the advent of the era of Core Banking in 1994-95, all branches got interconnected. This enabled customers to access their accounts from anywhere in India and also gave rise to a host of other features. With increasing customer...