Retail Banking

Products UNIT 2 Retail

Unit-4 : Customer Requirements:

Customers are segmented based on their income levels as their need pyramid, such as; Income level (in Lakhs) 2-10 = Mass Market, 10-50 =
Mass Affluent, 50-400 = Super Affluent, 400-4000= HNW, 4000-120000= Super HNW, Above 120000= Ultra HNW. The first three segments namely
Mass Market, Mass Affluent and Super Affluent are the most important segments for banks with regard to their retail banking initiative.
Abraham Maslows Theory: Maslow had defined five needs of individuals in their various stages of life, (i) Physiological Needs, (ii) Safety Needs,
(iii)
(iv) Between
Needs,
(v) Self Actualization
Needs.
Physiological
Needs
(Core
Accounts, Personal
Accident
Cover,
has Social
its ownNeeds,
advantages
as well as
disadvantages.
In the branch
model,
personal touch
is more,
butSavings
in the centralized
model, more
professional
approach is followed. The introduction of RLPCs has definitely helped banks to improve the quality of appraisal and also has reduced the gaps and
deficiencies in the documentation side.
Unit-8: Credit and Debit Cards