A Study on Personal Finance Rendered by Commercial Banks in India

Vijayalakshmi, B.; Sony, W. R.
January 2013
Journal of Venture Capital & Financial Services;Jan-Dec2013, Vol. 7 Issue 1/2, p54
Academic Journal
The demand for credit was broad-based and increased due to the increase of standard of living of the people in the society. Banks have been evolving themselves to adapt the new type of changing realities. Since the economic liberalization of the 1990s, the banking industry has become increasingly competitive and customer oriented. The life style of the middle class Indians has undergone a significant change, and this coupled with an increasing demand for consumer durables has contributed to a phenomenal growth in the demand for personal loans. The robust macroeconomic environment continued successfully weathering, the impact of an upturn in interest cycle. On the savings side, the awareness about long term savings for children's education, their weddings, retirement plans and other needs has created a demand for a variety of investment products. The most popular of these are the Mutual Funds and the unit linked insurance schemes. Therefore it has been felt appropriate to make a comparative study of the services offered by five different banks in respect of the personal financial service offerings.


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