The ultimate aim of any modern corporate is growth with profit maximization. Growth is the first and foremost characteristic of nature and its products which include modern societies with all their industrial, agricultural and service sectors and above all the research organizations to cater to the needs of primary, secondary and tertiary sectors. Governed by the laws of the universe and nature, societies, markets and above all human life are in the constant churn of development in the realm of creativity and innovativeness.

Satisfied customers are the best guarantee for stability and growth. Customers will be satisfied only when the banks provide the customized and innovative products and services at reasonable cost. This article focuses on the kind of services provided by developed countries and level of innovative services provided by Indian Banks. Many innovative services are currently available from Indian banks like e-banking, ATMs, anywhere banking etc. But there is a vast scope for improvement. Globalization, the buzzword, which engulfed all the nations of the world since the beginning of the last decade of the past millennium, did not leave the banking industry untouched. The opening of the world trade has brought out several changes in the Global Banking Map.

The continuing evolution of the banking and financial markets has created opportunities both for providers and for users of financial products, and this evolution has proven beneficial to the economy. However, innovations in financial products also have given rise to some new challenges for market participants and their supervisors in the areas of corporate governance and compliance. The changes which have taken place in the last decade demonstrate again that technical weakness and weak corporate governance at a few firms can dramatically change the cost of capital and impose additional regulatory burden on even well-managed organizations.

A conventional bank may treat its customers as coldly as the cash they deposit or borrow. Many banks have conveniently used control and security as reasons for their remarkably slow and impersonal services. In recent years, other service industries, notably fast-food and airlines, have proven that customer service can be a swift and enjoyable experience for both clients and employees without sacrificing control, costs, and profits. Some banks have finally adopted these new service paradigms and are now benchmarking with non-bank institutions to learn about their best practices. The growing concern about the improvement in service quality can be gauged by recent news in the Business Standard dated June 1, 2005 where it was given that "Banks are putting their best face forward for improving service quality. While some like the Oriental Bank of Commerce have prepared a detailed dress code of their employees, others have gone a step forward and are recruiting people from the airline and hospitality industries to improve the quality of frontline sales staff."

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