Journal Press India^®

Author Details ( * ) denotes Corresponding author

The role of traditional players in the Indian Banking sector Indian PSBs- Public Sector Banks has been crucial and has changed dramatically with the opening of India for Foreign Banks. PSBs have geared up with dynamic speed of globalization of the economy and many have performed well. They are emerging as Indian heroes in the current Global Financial Scene. Still, it's a long way for PSBs to compete with the giant foreign banks which have well developed system and MIS to support customer interactions especially in Retail Banking. With the advent of Internet and Mobile phone it is imperative for Banks to adopt Interactive Banking in the form of Online Banking and Mobile Banking. Online Banking is still limited to Indian metros and few cities but Mobile Banking is yet on the run-way in Indian Retail Banking arena. This paper attempts to explore the contemporary state of retail operations of PSBs with regard to use of electronic mode, in the light of different reports and studies done recently, concentrating on issues and challenges related to Interactive Retail Banking Services provided by them in India.

Keywords

Retail banking, Interactive banking, Online Banking

NA