Project-Universal Banking

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UNIVERSAL BANKING AND ITS SCOPE.
UNIVERSAL BANKING AND ITS SCOPE.

MADE BY:
ANKITA JAIN
B.COM (SPECIALIZATION-ACCOUNTING AND FINANCE)

MADE BY:
ANKITA JAIN
B.COM (SPECIALIZATION-ACCOUNTING AND FINANCE)

* SCOPE AND ADVANCEMENT OF UNIVERSAL BANKING ALONG WITH COMPARITIVE ANALYSIS BETWEEN SBI AND ICICI BANK.

* SCOPE AND ADVANCEMENT OF UNIVERSAL BANKING ALONG WITH COMPARITIVE ANALYSIS BETWEEN SBI AND ICICI BANK.

TABLE OF CONTENTS
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ACKNOWLEDGEMENT

I would like to express my humble gratitude to the Almighty God who has always stood next to me in all my difficult times.

I convey my humble thanks to Institute of ST.XAVIERS COLLEGE for having admitted me in the course.

I hereby place my sincere and profound gratitude to my research guide Mrs Chandrani Dutta for her valuable guidance, suggestions and moral support to do my project work. .
I also extend my thankfulness to my beloved parents and friends for their continuous encouragement at every moment.

CHAPTER 1-

INTRODUCTION

1.1 INTRODUCTION

The banking scenario in India has been changing at fast pace from being just the borrowers and lenders traditionally, the focus has shifted to more differentiated and customized product/service provider from regulation to liberalization in the year 1991, from planned economy to market.

The Indian banking has come a long way from being a sleepy business institution to a highly proactive and dynamic entity. This transformation has been largely brought about by the large dose of liberalization and economic reforms that allowed banks to explore new business opportunities rather than generating revenues from conventional streams (i.e. borrowing and lending).

The competition heated up with the entry of private and foreign banks deregulation and globalization resulted in increased competition that refined the traditional way of doing business. They have realized the importance of a customer centric approach, brand building and IT enabled solutions. Banking today has transformed into a technology intensive and customer friendly model with a focus on convenience. The companies have redoubled their efforts to woo the customers and establish themselves firmly in the market. It is no longer an option for a company to provide good customer service, it is expected.

Reforms are continuing as part of the overall structural reforms aimed at improving the productivity and efficiency of the economy. The sector is set to witness the emergence of financial supermarkets in the form of universal banks providing a suite of services from retail to corporate banking and industrial lending to investment banking. The financial services market has become a battle ground with the marketers with the latest and the most sophisticated weapons.

The Indian banking industry is currently in a transition phase. On the one hand, the public sector banks, which are the mainstay of the Indian banking system, are in the process of consolidating their position by capitalizing on the strength of their huge networks and customer bases. On the other, the private sector banks are venturing into a whole new game of mergers and acquisitions to expand their bases. The use of technology has placed Indian banks at par with their global peers. It has also changed the way banking is done in India. ‘Anywhere banking’ and ‘Anytime banking’ have become a reality. The financial sector now operates in a more competitive environment than before and intermediates relatively large volume of international financial flows. Thereby giving rise to the concept of UNIVERSAL BANKING.

Definition of 'Universal Banking'
A banking system in which banks provide a wide variety of financial services, including both commercial and investment...
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