In few years JAMMU & KASHMIR BANK financial services has emerged as a tool for ensuring one‟s financial well-being. P.O.S machines, CREDIT cards, DEBIT cards etc. have helped families tap into the success of Indian industries. As information and awareness is rising more and more people are enjoying the benefits of investing in mutual funds and using various services. The trick for converting a person with no knowledge of services to a profitable customer is to understand which of the potential customers are more likely to buy credit card,POS machine, debit card and to use the right argument in the sales process that customers will accept as important and relevant to their decision.
This project gave me a great learning experience and at the same time it gave me enough scope to implement my marketing ability in the sale of the services offered by the bank. This report will help to know about the various financial services offered by the J&K bank and the people response to them. The report throws some light on some factors that lead to the preference of J&K bank services over other banks. I hope the research findings and conclusions will be of use.
INTRODUCTION TO THE INDIAN BANKING SYSTEM
The Indian Banking system has a large geographic and functional coverage. Presently the total asset size of the Indian banking sector is US$ 270 billion with a branch network exceeding 66,000 branches across the country. Revenues of the banking sector have grown at 6 per cent CAGR over the past few years to reach a size of US$ 15 billion. While commercial banks cater to short and medium term financing requirements, national level and state level financial institutions meet longer-term requirements. This distinction is getting blurred with commercial banks extending project finance. The total disbursements of the financial institutions in 2001 were US$ 14 billion.
In addition to the safe money keeping of depositor and money lending to the borrower a bank also helps people in many kinds of money transactions. In brief the main functions of bank are:-
- Receiving money from the depositors
- Lending money on demand
- Transferring money from one place to another
- Receiving payment for public utility services such as telephone bills, house tax etc
- Renting safe deposits locker for safe custody of valuables
- Helping travellers and tourist by providing travellers cheques and foreign currency etc.
Title -Marketing Strategies For Enhancing The Debit Base Of J&k Bank
Author -MAFOOZ ILAHI
College -Punjab Technical University Jalandhar/strong>
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