CUSTOMERISATION OF BANKING SERVICES IN INDIA

Biggest problem plaguing organizations across the globe in bruising and discontinuous
environment unleashed by policy of liberalization and globalization by governments
around the world is how to cope with rapidly changing business milieu and complex
competitive challenges so as to ensure their sustained success. In such an environment
being better or bigger is not good enough.
In fiercely competitive environment, a bank, being service organization, needs to be
resilient to constantly seek how the environment is changing and how things could be
different tomorrow. It must be capable to reinvent business models and redefine its core
businesses faster than change in circumstances so that it achieves superior performance
and provides products/services that customers will pay more than what it costs.
Therefore, a bank must have distinct competence to create value.
In its endeavor to create value for the bank, central management needs to undertake value
chain analysis of all primary activities which the bank performs such as design and
development of product/services, marketing and distribution along with support activities
such as technology development, human resource management and infrastructure so as
to make their services cost effective, prompt in delivery and customer oriented. The
objective of the paper is to find out to what extent the banking sector of India has been
successful in customerising the banking services in the last few years and have managed
enhance their competitiveness along with meeting the expectations of the banking
customers.