Banks are in the process of reinventing themselves. This is mostly happening to banks which were engaged in retail and corporate banking. These banks are looking for new pastures in investment banking, private banking and insurance.

Indian banking has been undergoing various of changes in recent years due to deregulation, globalization and economic reforms. However, these changes are slowly emerging without disturbing financial institutions, market and economy. Some of the important changes under deregulation and economic reforms.

It is true that the above changes have created a new environment and better opportunity for banks to improve their earnings so that they can be in tune with the market along with the necessary preparedness and innovative instruments to face the competition, demanding customers as well as regulators. However, these changes are wide in range and are not focused enough to fulfill the desired objective of transforming and developing the Indian Banking to global standards and thereby enabling them to cater the diverse needs of new generation of entrepreneurs and traders arising due to opening up of the economy and globalization. Most of the banks in India, have not yet honed their management to adopt better technology for risk management and customer relationship management. Most of them have structured some committees and departments as per regulators guidelines/directions. However, they have failed to fill these with men having necessary expertise. Most of these committees operate on the advice of some middle-level officers, who are unable to provide the necessary vision and guidelines to these committees. In most cases these committees just fulfill formalities under regulation rather creating the much desired expertise which is needed by banks.

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