A Case Study on Banking Products and Services in India

Abstract

This case was written and compiled by Prof. Rohit Garg, Mr. Paras Batra and Mr. Imran Ahmed Khan. It is intended to be used as the basis for classroom teaching. This is a factious case prepared from the available public information and author’s independent research. Names, business, place, incident and events used in this case study are products of author’s imagination. This case is an attempt to emphasize on banking products and services offered by banks. The banking system of India consists of the central bank (Reserve Bank of India), commercial banks, cooperative banks and development banks. Currently there are 34 nationalized banks in India, out of which there are 12 government banks and 22 private sector banks. Our Prime Minister “Shri Narendra Modi” launched PMJDY on 28^th August, 2014 (world’s biggest financial inclusion scheme) to promote financial inclusion in India. Finance is Greece and oil that keeps the engine of an economy smoothly run. In this case study, we have discussed how awareness of banking services can be done and how it will help in raising standard of living of people. Banking industry is lifeline of Indian economy, without banking services; it is not possible for our economy to grow and achieve target of $5 trillion.