Professional Documents
Culture Documents
5. SELF ACTUALIZATION
4. SELF ESTEEM
4. RETIREMENT PLANNING
3. SOCIAL NEEDS
2. SECURITY NEEDS
2. RISK MANAGEMENET
1. BASIC NEEDS
1. CONTINGENCY PLANNING
NEED HIERARCHY & FINANCIAL PLANNING 1. Contingency Planning: SB No Frills/Silver/ Gold CD Classic/ Super Online Banking/ SMS/Email Alerts Debit card/ Credit Card 2. Risk Management: Jeevan/ Vidya Suraksha/ Liability Insurance HealthCare Plus, Personal Accident Insurance, Asset Insurance, NRI Shield All LifeInsurance Products thro LIC: Life/ Endowment/Money Back/ Market Plus/ BimaGold All General Insurance Products thro USGI All Risk/ Fire/ Marine/Farmers/ Householders/ Shopkeepers/ Electrical Equipment/ Plant & Machinery DD/ Cheque/ NEFT/RTGS Utilities Payment/ Bill Payment Clean Loan
3. Planning for Financial Goals: a) Fixed Deposits: FD/SFD/ RD/ RD Gold/ RDP/ Easy deposit/ ED/ WD/VS/ Tax Saver b) Gold retail 4/8/20/50 gm c) Retail Loans: Pushpaka / Easy trade/ Sanjeevini/ Liquirent/ CC against jewellery Home dcor/ Home improvement Subhagruha/ NRI Home loans/ Sahayika/ Vidya Jyothi
4. Retirement Planning: FD Schemes: Vardhan scheme/ varshik Aai Yojna PF/ Gratuity/ Pension Accounts Pensioners loan scheme Mutual funds and insurance related schemes
5) Tax and Estate Planning: IOB Tax saver TTD Deposit Charity/ Sponsorship facilitation Participation in CSR- Sampoorna/ Shakti/ Microfinance
6. The borrowing, raising or taking of money. 7. The collecting and transmitting of money and securities. 8. The buying and selling of foreign exchange including foreign bank notes.
Growing privatization and commercialization infrastructure sector. Today, Banks customers are better informed, more sophisticated and discerning. They also have a wide choice to choose from various banks and non-bank intermediaries. Their expectations are soaring. This is particularly true for banks corporate clientele but also applies to customers from personal segment. This is changing profile of customers call for a shift from product-based approach to customers-based approach. A bank aiming at maximizing customer value must, of necessity, plan for customized products. A combination of marketing skills and state-of-the-art technology should enable to bank in maximizing its profits through customer satisfaction. In the next millennium banks will have to be more and more cautions about customer service, profitability, increased productivity, to keep face with changing banking scenario. As banks in India prepare themselves for the millenium these are the shifts in the paradigm they are likely to experience. The 21st century may see the dawn of DARWINIAN BANKING. Only the banks could fulfill the demands of markets and changing items would survive and prosper.