The National Institute of Bank Management is a Premier Institution for Research, Training and Consultancy in the Field of Banking and Finance in India
The forces of change shaping the banking and financial system worldwide are fundamental and constant. The intense competitive pressure on the financial system has generated a variety of products and services to meet the specialized needs of millions of customers. The impact of these changes in the international financial system was felt in India in the early nineties when she initiated the process of integrating her economy with the global economic order. This ushered in the phase of financial sector reform in our country.
Reforms, which are primarily aimed at aligning the Indian banking system to the international best practices, are having lasting effects on the entire fabric of the Indian financial system which is presently undergoing a major phase of metamorphosis. While reflecting on the dynamics of this change and its implications in the management of banks, one need not emphasize the phenomenal growth profile of the Indian banking industry in retrospect and prospect in terms of business, branch network, etc. Correspondingly, the average population served per bank branch came down significantly.
The cultural diversity, vast geographical spread and federal character of the country are amply represented in the complexity of the banks’ operations. There has been a perceptible change in the environmental scenario in ba