The Reserve Bank has issued details guidelines on application of KYC norms in November 2004. Some random thoughts How do we see the future of retail banking? What are the major attributes of the shape of things to come in this sector? Let me share with you some of my random thoughts. First, customer service should be the be-all and end-all of retail banking.
The other day a document released by the British Bankers Association, entitled UK Retail Banking Manifesto: addressing the challenges that lie ahead for the industry and its stakeholders on September 29, 2004 came to my notice. This document analysed the key policy issues relevant to the retail banking sector and highlighted the role of financial inclusion, responsible lending, access to finance, and consumer protection.