Financial Daily from THE HINDU group of publications
Wednesday, Sep 25, 2002
Financial Daily from THE HINDU group of publications Wednesday, Sep 25, 2002 |
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Money & Banking
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Banking `Paradigm shift in banking practices' Our Bureau
MANGALORE, Sept. 24 BANKERS in the future will truly become brokers, according to the IDBI Bank Vice-President and Regional Head of Retail Banking (South), Mr J. Venkataramanan. Making a presentation on `The paradigm shift in banking' here , Mr Venkataramanan dwelt on various kinds of metamorphoses driving the banking industry and spoke at length on how the `new paradigm' had led to the introduction of several technology-driven products which had ostensibly made things easier for customers. `Before the advent of the new generation banks it was a seller's market, but now it has become a customer's market,' Mr Venkataramanan said. Moreover, according to Mr Venkataramanan, when it comes to their clientele, banks are now fighting a `war for mind-share', with banks sponsoring `everything except elections in India.'
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