ING Vysya Bank, a part of the ING group, is active in life insurance, asset management and banking services. This article analyzes the various product offerings of the Bank.Banks
in India have a diversified history since independence.
Before independence, Indian banking was under-banked
with 2700 bank branches with a total deposit of Rs.
928 cr. Only small and large private banks offered products,
which were lacking professionalism.
Globalization
has posed numerous challenges to the Indian banking
system. The last decade witnessed all new banks, financial
institutions, and investment opportunities. Deregulation
has provided new opportunities for banks to earn more
revenue with higher risks. This has made banks to diversify
their product mix. It has brought dynamic changes in
their processes, so that they can remain competitive
in the LPG era.
Globalization
challenges are not restricted only to global banks.
Banks in India also need to face them. Overcoming these
challenges makes them more competitive and will also
equip them to launch themselves as global players.
Economic
liberalization brought about in our country since 1991
has posed both challenges and opportunities to the Indian
banks. But there has been very little policy liberalization
concerning the banking sector. The ongoing reforms have
left the banking sector untouched for reasons best known
to the policymakers themselves.
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