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Have you ever thought of applying for Priority Banking with your bank (also called as
Preferred banking)? A lot of banks offer something called as “Priority Banking Solutions”
to their customers who qualify the eligibility criteria. A priority banking customer is
treated in a more special way and is taken care with priority by bank.
The first question to understand is why do banks have a Priority banking model at all ?
The reason is very simple, to treat different level of customers differently. If you want to
harshly put it, then it’s just a way of keep a separate list of High Net-worth Individuals
and focus on them more and service them in a better manner, because one customer who
is eligible for priority banking will give 100 times more business/profit to bank compared
to a normal customer. A preferred banking customer will have a few eligibility criteria to
honor, which is generally linked to his bank amount balance
A Priority banking customer has few advantages over normal customers and gets more
features. Some of the most common one’s are:
Free “At Par” cheque book payable at any Bank branch across the country, so you
do away with the need to ask for demand drafts
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However, all this is not so real and true
While banks list down these facilities on their website, on the ground level – there
are many real life customers who say that at the end of the day, you never get
what is promised from these banks. There are a lot of things just on papers. Most
of the banks just use Preferred banking route to attract high net worth customers
and finally end up calling then for investments products. A relationship manager
keeps in touch with you (the target), he has all the information on how much
money you have and when money comes and goes out of your account.
INTRODUCTION TO BANKING
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1. HISTORY
Banking in India originated in the last decades of the 18th century. The first banks
were The General Bank of India which started in 1786, and the Bank of Hindustan,
both of which are now defunct. The oldest bank in existence in India is the State Bank
of India, which originated in the Bank of Calcutta in June 1806, which almost
immediately became the Bank of Bengal. This was one of the three presidency banks,
the other two being the Bank of Bombay and the Bank of Madras, all three of which
were established under charters from the British East India Company. For many years
the Presidency banks acted as quasi-central banks, as did their successors. The three
banks merged in 1925 to form the Imperial Bank of India, which, upon India’s
independence, became the State Bank of India.
Indian merchants in Calcutta established the Union Bank in 1839, but it failed in 1848
as a consequence of the economic crisis of 1848-49. The Allahabad Bank, established
in 1865 and still functioning today, is the oldest Joint Stock bank in India. It was not
the first though. That honor belongs to the Bank of Upper India, which was
established in 1863, and which survived until 1913, when it failed, with some of its
assets and liabilities being transferred to the Alliance Bank of Simla.
The Bank of Bengal, which later became the State Bank of India. The first entirely Indian
joint stock bank was the Oudh Commercial Bank, established in 1881 in Faizabad. It
failed in 1982. The next bank incorporated was the Punjab National
Bank, established in Lahore in 1895, which has survived to the present and is now one of
the largest banks in India.
Around the turn of the 20th Century, the Indian economy was passing through a relative
period of stability. Around five decades had elapsed since the Indian Mutiny, and the
social, industrial and other infrastructure had improved. Indians had established small
banks, most of which served particular ethnic and religious communities.
The presidency banks dominated banking in India but there were also some exchange
banks and a number of Indian joint stock banks. All these banks operated in different
segments of the economy. The exchange banks, mostly owned by Europeans,
concentrated on financing foreign trade. Indian joint stock banks were generally under
capitalized and lacked the experience and maturity to compete with the presidency and
exchange banks. This segmentation let Lord Curzon to observe, “In respect of banking
it seems we are behind the times. We are like some old fashioned sailing ship,
divided by solid wooden bulkheads into separate and cumbersome compartments.”
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The period between 1906 and 1911, saw the establishment of banks inspired by the
Swadeshi movement. The Swadeshi movement inspired local businessmen and political
figures to found banks of and for the Indian community. A number of banks established
then have survived to the present such as Bank of India, Corporation Bank, Indian Bank,
Bank of Baroda, Canara Bank and Central Bank of India.
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2.BANKING AND BANKING SYSTEM
In other words, Banking means accepting for the purpose of lending or investment of
deposits of money from public repayable on demand and can be withdrawn by cheque,
draft order and so on.
Banking System is a principal mechanism through which the money supply of the
country is created and controlled. The banking system enables us to understand
Commercial Banks, Secondary Banks, Central Banks, Merchant Bank or Accepting
Houses and Discount Houses but to exclude the Saving Banks and Investment and other
intermediaries.
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PRIORITY BANKING
INTRODUCTION
Priority banking is relatively new in the Indian context. In this form of banking,
the bank identifies its priority customers (often customers with deposits above 1
lakh-however this is different for each individual bank) and some special benefits
are provided to these first class customers by the bank.
Eg. They do not have to wait in the queue for transactions. They are assigned
client relationship managers to take care of all their banking needs. These
customers can use banks premises for holding meetings, can access the Internet
free of cost and several other benefits are also provided.
The basic purpose of this form of banking is to make the experience of banking
has free and less time consuming. This is not to be confused with wealth
management where the thrust is on providing first-class customers, customized
services and expert advice on various financial needs. This is generally carried out
by the wealth managers of the bank. However priority banking as part of its
service offerings may include wealth management.
May 3 2010
State Bank of India (SBI), India’s biggest, and Society General of France are in talks to
form a joint venture that will offer priority banking services to ultra high net worth
individuals in India. SBI will be the first public sector bank to start specialized services
for the very rich. Ultra high net worth individuals are those who have at least $1 million
in assets (about Rs 4.45 cores).
INDIAN HISTORY
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Since the launch of the priority banking product in august 2005,business dynamics
including the lifestyle of the target segment have changed. To ensure that the product is in
sync with the needs and expectations of the target audiences the existing priority banking
product has been revised and
the eligibility net has been widened to include customer important to other business lines
of the bank. Further, cost rationalization has been done to gain competitive advantage. All
these changes have now made the product more complex. The processes set at the initial
launch of the product required revision to ensure delivery of the product.
Deepen the relationship by cross selling as many of the bank’s product and
services to priority customers. This will result in higher loyalty and greater profitability
of this relationship. Provide best service to customer. Thus each priority relationship will
have a relationship manager take care of all service need. Through a process of referrals
from existing priority customer and through targeted programs on select customer
databases, acquire new priority customer into the program.
Similar services were started for their valued Customers. Slowly the government banks
started this service as well and nowadays almost all banks in India provide priority
banking services to their customers. The basic purpose of this form of banking is to make
the experience of banking hassle free and less time consuming .Priority banking service is
born out of the desire of customers today for a comfortable and personalized environment
to discuss an array of financial services, whether of a business or personal nature. There
are many banks coming up with these unique services, Priority banking is a name given
by banks to their private banking services. Priority banking is a service that goes beyond
investment advice and addresses all financial needs of a customer, ranging from
managing and growing his assets to handover of his wealth to future generations. It is the
banking service offered to wealthy clients a service. It is offered by some financial
institutions to high net worth individuals.
e.g. –Standard Chartered, HDFC, Axis bank, Citi bank, and HSBC also the nationalized
banks of India like state bank of India excel in providing mass banking services as well as
priority banking.
Priority banking is a big part of the consumer bank. It’s highly customer-centric approach
will lead to more holistic relationship with the customers, with better product
development and risk management for the bank.
Priority banking in India has so far been the domain of foreign banks and some private
banks. They offer ultra high net-worth individuals a bouquet of services, including
investments.
Retail banking aims to be the one stop shop for as many financial services as possible on
behalf of retail clients. Some retail bank has even made a much into investment services
such as wealth management brokerage accounts private banking add retirement banking.
The most noticeable differences between retail and priority services are that private
clients receive customer service on 1-basis via a relationship.
Priority banking, or the provision of banking services to high net worth individuals, has
recently become just as fashionable as investment banking was back in the eighties. It
seems that every provider wants to get into the private banking market, or has weighted
its strategy more towards private clients, because the margins here are still attractive and
assets under management continue to grow worldwide. This in turn means that high
salaries and bonuses are paid in this business to attract and retain human resources that
would otherwise be dispersed across other areas of banking or different industries
altogether. Until about a year ago, another attraction of private banking was that it was
less exposed to economic cycles than investment banking or the brokerage business. But
2001 marked a turning point: there was a massive collapse in profits in private banking,
and far greater pressure on Switzerland's financial industry (banking secrecy, tax
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amnesties). The outlook has now deteriorated, and many banks have had to drastically cut
their costs, which had been allowed to spiral out of control in the expansion drive during
the previous boom. It may well be said that private banking is about to enter a downward
cycle that could last at least three years. The challenges facing institutions active in
priority banking are becoming more demanding all the time.
What are classed as new money clients require increasingly innovative and also
complex products?
They are also more discerning about the services on offer and put greater emphasis on
investment returns. The competition is generally getting
tougher as new players enter the market, investment banks aggressively fight for the most
affluent clients and online communication channels offer low-cost broker services to
wealthy (but price-conscious) private clients. At the same time, offshore financial centers
are coming under increasing pressure from US and EU governments to harmonize
disclosure regulations and tax legislation. Tax authorities are showing considerable zeal
and ingenuity in procuring evidence for undeclared wealth, and to this end are sending
their officers to offshore financial centers to track funds down. Many clients in these
offshore centers feel uneasy and are reconsidering their options for the future. Banks,
which route a substantial portion of their private client business through such offshore
centers, therefore have to press ahead with the creation of alternative financial centers for
their clients, or offer clients the necessary support to switch their assets into onshore
investments, as well as providing suitable tax advice. Although both asset growth and
profit margins are, as already stated, still relatively attractive for Swiss private banks both
in the offshore and onshore domain, one of the main prerequisites for future success in
this industry will be a reappraisal of the bank's own client strategy and also the resources
available to implement it. After all, in the current environment it is not particularly
difficult to copy competitors' products and services! The bank plan to face the challenges
of the next few years by:
Continuing to expand on our high degree of specialist expertise and our close network
of relationship.
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Utilizing the Internet as a contemporary and powerful information channel.
Although the biggest challenge for private banks at the moment in Asia is the business
cycle, they should prepare for the expected growth in wealth in the region by building up
platforms, training people and expanding footprints. To meet the increasing demand for
high-quality service, the industry needs more patience to focus on developing people
internally rather than relying on hiring from competitors.
To tackle rising cost bases in an environment of low fees, wealth management firms need
to look at where they can control costs and make savings. Resources need to be allocated
to building onshore wealth management businesses in Asia now; even though these are
unlikely to be profitable in the near term as offshore platforms remain dominant.
As Asia develops, clients are increasingly demanding high-quality service from truly
trusted advisers – especially in the wake of the financial crisis.
However, given that good quality salespeople are not easy to come by, one of the biggest
challenges the private banking industry faces is the lack of training and talent
management.
More patience is needed, rather than hiring from competitors, said Mak, explaining that
this means a greater focus on training and developing people internally by putting in the
required resources.
According to Mak, cost bases in Asia have been rising over the past 10 to 20 years.
But at the same time he said the wealth creation and related opportunities have enabled
firms to offset these costs.
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Yet in the current difficult environment, firms need to look at where they can control
costs and make savings, and should realise they need to prioritise how they expand their
businesses.
Industry outlook
In terms of economic growth, Asia is second to none compared with the other regions of
the world. The last 10 years in particular have seen great wealth creation in China, India
and other parts of Asia.
With regulatory changes in the US and Europe, he predicted that a lot of hedge funds and
private equity firms will move to Asia, which will in turn enhance the region’s
development.
Banks with the proper scale, products and people will therefore be profitable and enjoy
growth.
In terms of the potential for building onshore wealth management businesses in Asia,
Mak said he doesn’t expect the bank’s ever-widening footprint across the region to be
profitable in the short term. As a result, offshore platforms will remain the way to go over
the near term.
Instead, these onshore moves are long term, strategic investments based on the future
expected growth in various markets, which require resources to be put in now.
Priority banking encompasses and array of services for high network individual. that
might mean personal banking, but might also entail sophisticate service: currency
hedging, asset deposition tax advice, portfolio management and mergers and acquisition
on smaller scale.
Investment banking provides services, advice and products to large corporation around
the world. That too might mean basic corporate banking, might entail complex, debt or
equity financing, takeover defense, project finance, convertible bond offerings, or equity
share repurchases.
Priority banking aims at establishing close relationship with clients who are senior
industry leaders or established enterprises. Wealth management is the target growth area
for priority bankers. They focus on accumulating assets and special banking product and
services. They provide customer with flexibility to move from priority banking to other
banking services. They generally target high net worth customers.
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On other hand, investment banking puts continuous emphasis or innovation, new product
and novel financial techniques. This service is mainly provided to share holders. They
add value to share holders by offering something new and special. Investment banking is
intellectually challenging, adrenaline building and stimulating. This business is a cyclical
but banker tried to stabilize it by offering counter cyclical like restructuring advice to
share holder.
Investment banking cannot transfer into priority banking, but priority banking may
transfer into investment banking. Especially when they bring deep relationship with
important people within the industry.
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IMPORTANCE OF PRIORITY BANKING
The reason is very simple, to treat different level of customers differently. If you want to
harshly put it, then it’s just a way of keep a separate list of High Net-worth Individuals
and focus on them more and service them in a better manner, because one customer who
is eligible for priority banking will give 100 times more business/profit to bank compared
to a normal customer. A preferred banking customer will have a few eligibility criteria to
honor, which is generally linked to his bank amount balance
BANKS PROVIDING PRIORITY BANKING SERVICES
There are many banks coming up with these unique services, Priority banking is a name
given by banks to their private banking services.
e.g. –Standard Chartered, HDFC, Axis bank, Citi bank, and HSBC also the nationalized
banks of India like state bank of India excel in providing mass banking services as well as
priority banking.
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BENEFITS OF PRIORITY BANKING
The following benefits will be available to all Priority customers in the form of wide
array of products and services offered by the banks to meet the diverse complex financial
needs of HNW individuals:
relationship management
jumbo mortgages
aircraft financing
treasury management
retirement plans
brokerage accounts
insurance
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BENEFITS TO BANKERS:
Depositing money with a bank is reward enough, of course, whether into the bank or into
one of its financial products, but priority banking when it has an advisory nature and is
not accompanied by lending or borrowing may be fee-based. The level of the fees is
highly variable: they will be lower if the bank will get the benefit from time to time of
being able to offer bridging finance, or of holding large amounts in transit etc, or if it can
hope for more substantial involvement with the customer in future. If the relationship is
purely between financial adviser and client, then the fees may be substantial.
Introduction:
The growth in recent years of developing economies across the Asia-Pacific region has
led to a massive increase in the number of affluent and emerging affluent consumers
living in the region. With this rapid increase in accumulated wealth, banks see this
segment as a potentially lucrative area to target due to high take up rates of financial
products and Services.
One way banks have sought to meet the needs of this affluent segment is through the
provision of ‘priority banking’ programs, which often provide what is perceived as a
superior banking experience through various product and service experiences, such as
access to relationship management, wealth management advice and priority banking
privileges.
Primarily using results from the July 2012 Indonesia Priority and Retail Banking Council
(IPRBC) survey, this report explores the demographic profile of a typical priority banking
customer, and the various contributors towards satisfaction in priority banking programs,
as well as identifying areas which priority banks should focus on in future periods to
increase satisfaction and reduce switching attrition whilst also increasing cross-sell
product uptake amongst their priority banking customers.
Highlights
There is a strong relationship between satisfaction with a priority bank and the bank’s
ability to provide high quality relationship management services. Ultimately, relationship
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managers focusing on providing quality banking and financial services and advice is
likely to result in improved satisfaction amongst existing customers.
Priority banking customers generally derive the most satisfaction from a priority
program’s core banking attributes. Although performing well over such core attributes is
of paramount importance to a banks’ ability to satisfy the widest possible range of
customers, priority banks specifically need to also be able to provide facilities and
services above and beyond what a normal retail bank is able to provide to attract and
maintain high value clients.
A priority customer’s satisfaction with their main priority bank also heavily influences
their product uptake of additional retail banking products from the same institution.
Across a plethora of core retail banking products, it was found that satisfied priority
banking customers are much more likely to both apply and use products from their main
priority bank as their main retail banking products.
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PRIORITY BANKING SERVIES IN BANKS
Axis Bank Limited (formerly UTI Bank) is the third largest private sector bank in India.
It offers financial services to customer segments covering Large and Mid-Corporate,
MSME, Agriculture and Retail Businesses. Axis Bank has its headquarters in Mumbai,
Maharashtra.
Eligibility Criteria
You can sign up for Priority Banking service by agreeing to any one of the following
criteria
Average quarterly balance of Rs. 1 Lakh in your savings account ( this
requirement is Rs. 75,000 if in case you have a salary account with Axis Bank).
Average quarterly balance of Rs. 5 lakhs in combination of your savings and term
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deposits account.
Preferential Entertainment
Lifestyle
Treatment Benefits
Privileges
Beyond Banking
Access to Premium Services
Meeting Rooms.
1. Preferential Treatment
Enjoy preferential treatment when you walk into our branches or when you call
our Phone Banking Centre. Enjoy a specially designed Axis Mobile App.
Get access to a dedicated relationship manager to help plan your investments.
Earn points on your credit & debit card spends, as well as on select savings
account transactions to enroll.
2. Lifestyle Privileges
As a Priority customer, get access to the Premium Privileges program.
With a new theme every month, you can choose from a selection of customized
delights, special deals & discounts, and exclusive experiences that suit your style.
Get 15% or more discounts at over 1,000 restaurants in over 80 cities. Just flash
your Priority Platinum debit card, and dine in style.
3. Entertainment Benefits.
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Get 25% cash back* on movie ticket bookings (including online bookings) with
the Priority Platinum, Debit Card.
Shopping up to Rs 1.5 lakhs in a single day.
High ATM cash withdrawal limit of up to Rs.1 lakh in a single day.
Unlimited ATM transactions at any other bank ATMs.
6. Other services
As a Priority banking customer an individual will have access to an exclusive
‘Priority Banking Lounge’ at branches. This will allow an individual to conduct
his financial transactions in utmost comfort and confidentiality through an
exclusive Relationship Manager.
Dedicated Relationship Manager An individual will enjoy access to a dedicated
Relationship Manager who will be his one point contact at branch for all an
banking transactions thus ensuring that An individual would neither have to move
from one counter to the other nor stand in queues to await his turn.
Home Banking Experience the convenience of Axis Bank’s home banking
facilities. Avail of free cash and cheque pick-up delivery at an individual’s or
residence.
Exclusive Priority Banking International Debit card This card allows an
individual free access to all VISA ATMs in Idea. The card also comes with higher
ATM withdrawal limits; higher POS transaction limits at merchant
establishments, enhanced insurance over and a host of special discounts and
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offers. An individual also get Preferential Interest Rates and lowered Processing
Fees on select Retail Loans.
Investment Privileges avail of assistance in financial planning. Investment advice
market information reports and invitations to investor meets are offered
complimentary to an individual.
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4.2 STANDARD CHARTERED BANK :
PRIORITY BANKING
Personalized service
Investment advisory Service
Preferential pricing of banking products/services
Lifestyle privileges.
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The definition of the value of relationship and services offered differs across
Banks. In general, MNC banks define the HNI segment taking into account
The customers’ liability as well as, assail relationship with the bank) whereas the Indian
private banks only take in the Savings bank balances and term deposits Bank believes
Standard Chartered customers should enjoy the rewards of their success. With Priority
Banking the customer step into a world of exclusive personalized banking that will
ensure them get the VIP treatment that they truly deserve.
Comprehensive wealth
management services
Foreign Travelex
exchange discount Remote account
opening
STANDARD
CHARTERED BANK
Access to PRIORITY
international BANKING SERVICES
priority banking
center Emergency cash
Standard Chartered Priority Banking has created a set of financial tools to assist
customers in planning, building and protecting your wealth.
BUILD-To executes your plan and help there grow your wealth through a wide range of
portfolio management products and solutions.
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PROTECT -Help maintaining the value of what customer have built and ensure
sufficient, long term protection for customer
These include invitations to networking events where you can make new and valuable
business contacts and access to priority Banking Centres where you can host meetings
while on business trips. Priority Banking customers also has the benefit of maintaining
savings and current accounts, time deposits, special foreign investment deposit accounts
as well as other benefits such as globally accepted credit card services;
Where a customer qualifies as a Priority Banking customer in any one country, his/her
status will extend worldwide. This will allow the customer as well as his/her family to
enjoy the same privileges for accounts in other countries.
Here a customer will have the benefit of opening an offshore account pre-arrival in the
event of migration to another country.
5. Emergency Cash
Here customers have the benefit of having emergency cash delivered to any of the Bank’s
Priority Banking Centers worldwide in the event of an unexpected incident such as losing
your wallet.
Where a customer can present his/her Priority Banking cards and receive special
discounts on foreign exchange at Travelex outlets in over 740 locations across 20
countries.
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Customised benefits tailored to suit your unique individual needs.
As a Priority Banking customer you have the advantage of enjoying customised benefits
that recognise your total relationship with us and have been tailored to suit your
individual needs.
And because we know they mean the world to you, some of these benefits also extend to
your family.
1. Privileged Pricing
As your financial partner, we offer you the best value on your banking requirements
tailored by your Relationship Manager.
2. Household Recognition
We know your family is your greatest asset, so we have made them our priority. It’s our
way of ensuring a total banking relationship for you.
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It is not only about making the right choice of your financial partner but also enjoying the
fruits of a total banking relationship with us
Our exclusive and unique total banking rewards scheme allows you
to earn points on:
You are interested in more than just a financial relationship. So we have made it our
priority to extend special privileges that match your status and lifestyle.
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ARTICLES:
Standard Chartered launches 'Priority Banking' service for non resident Indians.
As part of its Priority Banking offering, Standard Chartered has launched a service for
affluent non resident Indians (NRIs) in the UAE after customers have expressed the want
for tailored service. The account, which can be opened either in India or the UAE,
provides customers with access to a single Relationship Manager (RM) who understands
and can address the specific banking requirements of NRIs living in the United Arab
Emirates.
Source:
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PRIORITY BANKING OF HDFC BANK:
Free Preferred Easy shop Platinum Debit card with limit of Rs. 1,00,000 at ATMs and
Rs. 1,25,000 at merchant establishments per day .
No charges for balance enquiries and cash withdrawals if you transact on non HDFC
Bank
ATMs (VISA/ MasterCard / Euronet/ SBI/ Andhra Bank) in India.
An HDFC Bank Credit Card which offers you exclusive and preferential benefits.
Free "At Par" cheque book payable at any HDFC Bank branch across the country, so
you do away with the need to ask for demand drafts.
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Demat Folio Maintenance Charges waived off for the first year. Differential Transaction
Based Folio Maintenance charges from second year onwards.
Combined monthly statement for your Savings, Current and Fixed Deposit accounts for
which you are the principal holder. This facility is also available
for email statements.
You are eligible for the HDFC Bank Priority customer if you:
Hold at least one Savings or Current account, sole or joint, with HDFC Bank.
Maintain a minimum Average Monthly balance of Rs. 15 Lakhs across all your
accounts (Savings, Current and Fixed Deposits*) OR
OR
In the same way, other banks also keep criteria of maintaining high balance in saving
bank account. That simply means that bank would get lots of cash to use for their own
business and naturally they can treat these customers very well. Check out this survey on
best banks in India.
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Separate queue for in the bank so that customers don’t
wait.
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Kotak Mahindra Bank:
Privy League
Privy League is the evolution of the concept of Priority
Banking, wherein a select few can expect to enjoy a wider
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range of benefits and services. Whether it is the
dependability on a single point of contact, the benefits of
personal or business banking or cutting-edge investment
advisory, Privy League offers you a world of banking
benefits and investment advisory that truly places you in a
league of your own.
Banking Privileges:
Privileges
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Lockers at discounted rates
Planning investments
Constructing portfolio
Mutual Funds
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Insurance
Post reclassification to regular Current Account, the customer has the option to retain
existing Privy League Business Platinum card at a fee or has the option to hand over
the Privy League Business Platinum Debit Card to the nearest branch along with a
request to issue a new Debit Card.
Exclusive investment products
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nearest branch along with a request to issue a new Debit
Card.
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Standard Chartered Bank launch a new priority banking
offering for India’s increasingly sophisticated and
discerning banking customers in the year august, 2009.
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Kotak Mahindra Bank
Data analysis:
A majority 55% are associated for 2-5 years and only 15%
are associated between 5-10 years. It shows that Kotak
Priority is slowly still in the nascent stage in Priority
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Banking as most of the respondents (85%) have a
relationship with it for 0-5 years.
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CASE STUDY OF KOTAK MAHINDRA
BANK
FINDINGS:
There is a strong relationship between satisfaction with a
priority bank and the bank’s ability to provide high quality
relationship management services. Ultimately, relationship
managers focusing on providing quality banking and
financial services and advice is likely to result in improved
satisfaction amongst existing customers.
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RECOMMENDATIONS:
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CONCLUSION
Thus we can say that priority banking has huge scope for
growth in India.
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What are the schemes provided under priority
banking for customers?
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Do you think priority banking service has changed
your banking strategy?
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BIBLIOGRAPHY
www.rbi.org.in
https://www.axisbank.com/webforms/Priority_Microsite/ind
ex.aspx
http://priority.standardchartered.com.my/en/termcondition.h
tml
http://ebookbrowse.com/7-priority-banking-products-
services-jan2010-pdf-d23245052
http://www.deccanchronicle.com/130804/news-
businesstech/article/how-important-priority-status
http://www.efinancialnews.com/story/2013-06-26/bankers-
top-challenges-deloitte-temenos-report
http://www.kotak.com/kotaklpbank/privy_league/privy_leag
ue.html
http://www.standardchartered.ae/media/press/en/2010/2010
0425.pdf
http://www.business-standard.com/article/finance/kotak-
revises-premium-banking-offer-113061800437_1.html
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