I have analyzed various metrics of operational efficiencies for the banking system across the globe and I can tell you that notwithstanding the inter se disparity between banks in respective jurisdictions, almost all the jurisdictions represented here today need to improve their operational efficiencies by several notches to reach anywhere closer to their counterparts in developed world.
The positive factor, however, for our banks is that the downside is limited and hence, the upside potential is tremendous. 14. The second essential pre-condition for the success of retail banking is appropriateness of product and services for the customers.