Globalization has significantly impacted the banking sector in India. Prior to liberalization in 1991, Indian banks lacked competitiveness and customer focus. The opening of the Indian economy introduced foreign and private banks that emphasized customer service, technology innovations, and new banking products. While increased competition has benefited customers, globalization has also introduced risks like increased cybercrime and volatility from global financial markets that impact the entire banking sector. Overall, globalization has transformed retail banking in India and increased competitiveness, technology usage, and customer satisfaction across both private and public sector banks.

1. IMPACT OF GLOBALIZATION ON BANKING SECTOR :

2. PRE-GLOBALIZED SCENARIO OF SERVICE CULTURE IN THE INDIAN BANKS SERVICE CULTURE WAS EXTREMELY DEMOTIVATED & NON INTERESTED EMPLOYER& EMPLOYEE. NON COMPETETIVE ATTITUDE. PRODUCT FOCUSED & NOT CUSTOMERSERVICE FOCUSED. CUSTOMER UNFRIENDLY FORMALIZED

3. LIBERALIZATION & GLOBALIZATION MEASURES WERE INTRODUCED IN INDIA IN 1991-92. SHRI M.NARASIMHAM RAO

4. Globalization Process TWO WAY PROCESS . INDIAN BANKS . FOREIGN BANKS .

5. BANKS IN GLOBALIZED COMPETITIVE WORLD. Foreign Banks in India Indian banks abroad ABN AMRO BANK CITI BANK BANK OF CEYLON PUNJAB NATIONAL BANK BANK OF BARODA ICICI BANK.

6. GLOBALIZATION IMPLIES TO EXPOSURE TO COMPETETION

7. Today’s customer likes, Flexibility. Answering the phone calls promptly. Meeting commitments. Courtesy . Updates On Progress. Pleasant Attitude. RATER technique by Parshuraman, Reliability. Assurance. Tangibles. Empathy. Responsiveness. What do Customer Like Most??? Customer service personnel ask

8. COMPETETION FOCUSED ON CUSTOMER SERVICE INNOVATION GOODS SERVICES

9. Innovation In Banking Product. Occasional greeting at home Surprise gifts. Good waiting rooms friendly employees Welcome note. Timely service Long banking hours. Low interest Rate. Safety of deposits Loanable funds etc. The basic necessity to use banking services in order to handle finance more efficiently Potential Product Augmented Product Expected Product Basic Product Core Product

10. Flower of banking service Mobile & Internet banking ATM Network Good Waiting room Promotional discounts Low interest rates Intro. Of new schemes Change in Product line Consultancy service Financial service

11. External drivers compel banks to leverage the developments in Information Technology and continuously innovate. Regulatory change and consolidation Competitive forces. Changing Consumer Preference. Technological developments.

12. Technological innovations in Banking sector. Data Mining. Tie up Arrangements Plastic money. Virtual banking- don’t visit the branch ATM Insurance Product Marketing Agents for Distribution of Products Mobile Banking Phone Banking

13. ADDITIONAL FINANCIAL SERVICES AVAILABLE TO BANKING SECTOR : Merchant Banking Loan Syndication. Mutual Fund Factoring. Forfeiting. Venture Capital.

14. These services are being initiated by banks like , ICICI Bank Ltd., Citibank, Global Trust Bank Ltd., UTI Bank Ltd., Bank of Citibank Bank of Madura Ltd., Federal Bank Ltd., etc.

15. Negative Impact of Globalization on Banking Sector. Cyber crimes are, therefore difficult to be identified and controlled. Volatility or shackles in global markets have direct impact on the banking sector globally. Theft

16. Conclusion The opening up of economy in 1991 paved the way for the next revolution in Indian Banking: the emergence of private banks. It has changed the face of retail banking , bringing in enhanced competitiveness, product mix & customer satisfaction. The emergence of retail banking has also brought into focus the performance of the private banks & their aggressive banking practices. The new private banks have used technology to grow. The PSUs are now becoming more customer centric & tech savvy. The battle for the Indian consumer’s mind is in full swing.

17. That’s all Folks !!! Thank you!!!