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Write Your Views About Latest Trends In Banking?

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Rajesh Shri answered
Banking is probably one of the foremost institutions developed by man. The scope of 'a penny saved for a rainy day' has gone way beyond simply, 'the removal of dependency'. The humble beginning of taking over the responsibility of another's funds for safe-keeping is a thing of the distant past. Today, banks conduct a number of functions and offer patrons select and customized financial products. Each function is part of a greater whole and the overall result is 'profit for all'.

The functions of banks are no more contained to simple investments in the industries, to earn a meager rate of interest. The institution has grown into an industry and now offers a number of options. These options are made available to the general public via hard-core direct selling, advertisements and online banking. One of the recent trends adopted is that of online banking. This enables the customer to access his account and conduct business from the comfort of his home. Another trend, phone-banking, makes the functionality of the bank only a phone call away. Direct selling, which is yet another trend followed nowadays, has not only created a competitive financial market, but has also generated employment among the youth and retired personnel. Irrespective of the ulterior motive being served, it is essential to credit the industry with innovation and vision.

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