Innovative Contributions by New Generation Banks in India

Topics: Bank, Credit card / Pages: 13 (3033 words) / Published: Jun 12th, 2013

Prof. Mahantesh M Kuri *


This paper analyzes the facilities provided by the new generation commercial banks. The gamut of services provided by the new age banks include Core Banking, At Par Cheque facility, Internet Banking, Electronic Funds Transfer (RTGS/NEFT), Online request for opening FD/RD/CD accounts etc. In this direction, the new generation banks’ contribution has been amazing. Banks like ICICI Bank, HDFC Bank, Axis Bank, State Bank of India etc have been at their best to make the banking services available to the customers at their fingertips. Customer can sit at home and do all banking transactions, be it transferring money to another account, opening an account or closure of a matured FD. The present paper intends to cover all such facilities/services rendered by the commercial banks to make the banking available to customers at ease. The new and innovative banking products/services will be discussed in the paper and the merits of these services will be highlighted. No doubt, these new aged services are not free from hackers and thus these are faced to a great amount of cyber risks. The paper also envisages the potential risks inherent in the online/internet banking and the precautions to be taken by the customers while doing online transactions. The paper concludes with the evaluation of the innovative services of the new generation banks.

Keywords: New Generation Banks, RTGS, NEFT, Core Banking, At Par Cheque Facility

*Assistant Professor, Department of Business Administration, Rani Channamma University, Belagavi, Karnataka State, India. Mobile No: +91 8747053681 email ID:

References: • Dwivedi, R. (2007). Managing Marketing-Finance Interface, Journal of Commerce and Trade, Vol. 2, No. 2 • Gurumurthy, N. (2004). Marketing Bank Products, IBA Bulletin • Jha, S.M. (2000). Service Marketing, Himalaya Publishing House, Mumbai • International Journal of Management and Strategy, (2011). Vol. No.II, Issue II • Websites: • : Report of the Committee on Customer Service in Banks

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