Marketing of Banking Services in the Globalised Scenario - Emerging Challenges

A bank is an institution, which deals with money and credit. For a common man, a bank means a storehouse of money, for a businessman, it is an institution of finance and for a day-to-day customer it is a depository for his savings. Actually, banks are business organisations selling bank services. They play a vital role in the economy of any country. Banks hold the savings of the public; provide a means of payment for goods and services and finance development of business and trade. Thus, banks act as an intermediary in the flow of funds from savers to users. Therefore, banks should render an efficient customer service to retain the present customers and also to attract potential customers. This is because the customers' expectations have grown to enormous extents over a period of time and now-a-days they also expect timely, efficient and quality service from the banks.