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Retail Banking
April 2023 Examination
Q1. “Traditional retail banking is at inflection point (point of change) which has been possible due to emergence of new distribution channels and adoption of disruptive innovation in terms of products & services and extensive use of technology”. Comment on above statement in context of Indian retail banking with appropriate instances/examples. (10 Marks)
Ans 1.
Introduction
The Indian banking system aids financiers and savers in getting a meeting ground. Together with time, the Indian banking system structure and India’s economic markets have likewise experienced a considerable makeover since liberalization.
In today’s age, banks play a considerable role in building up public cost savings and making them readily
Q2. Under Banking Regulation Act of 1949, RBI has extensive powers for licensing, supervising and controlling banks. Banking industry is highly regulated. Explain the objectives and need for regulation of banks. (10 Marks)
Ans 2.
Introduction
Banking laws impose different regulations, laws, requirements, limitations, and guidelines on the banking sector. These constraints vary from country to country. However, the goals of the policies are comparable in every country. Banking law is the process of setup and imposing policies and policies for different banks and other banks. The main objective of imposing banking law is to protect consumers from fraudulent activities, ensure the economic system’s stability, and stop criminal activity versus customers. Banking policies are designed to promote
Q3. Good & efficient Customer Service is the cornerstone for development and growth of banks. Every bank is championing this cause and finding ways and means to provide “customer delight”, which is one-step ahead of good customer service. Consumer Protection Act (COPRA) 2002 is a step in this direction of providing basic rights of consumers.
a. What is customer delight, explain with help of an example? (5 Marks)
Ans 3a.
Introduction
Customer delight is offering the customer an experience that surpasses assumptions. It is to comprehend the customer’s requirements and give complete satisfaction to the customers.
To satisfy the customers, we need to recognize their demands and demands. To delight your customers, we need to comprehend what will reverberate with them. Both customers and
b. Enumerate the different provisions of COPRA and Consumer Protection Bill of 2019. (5 Marks)
Ans 3b.
Introduction
The consumer protection costs of 2019 were introduced in Lok Sabha by the priest of consumer affairs, Food and Public Circulation, Mr. Ram Vilas Paswan, on July 8, 2019. The expense includes the definition of the consumers, civil liberties, CCPA and charges, and so on. The expense replaces the
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