system is a system in which we trade our money forth and back. Banks are the
safest place to keep money and a place to withdraw money whenever you want. It
is also helpful for the customers to purchase consume products and also provide
loans on which interest is charged.
is one of the major problem faced by Banking Industry. It means where your bank
operate, what facilities you provide to your customers. Rural project, Energy
projects is one of the major problem faced by banking industry because this is
creating a big hindrance in the expansions of banking industries.
infrastructure development project with public-private partnership to avail
LOW DEPOSIT RATIO:
The growing demand
of auto and mortgage finance has increased in recent years which resulted in th
increased prices of these assets, the consumers take more loan from the bank
but the depositing ratio of the customers is very low which causes the banks to
depend on the State bank.
awareness campaign should be introduced in order to attract your customers
is a criminal act. The misuse of bank services for terror activities and like money
laundering has been observed is recent years. These criminal use apparently
legal sources to launder their illegal money without revealing the true nature
this is another a big problem for banking industry.
Anti Money laundering (AML) know your customers (KMC) form is used by bank to
reduce the criminal activities and taking from these issues requires a
coordination effect of the law enforcement agencies, bank institutes,
INCREASE IN COMPETITORS FROM
FINANCIAL TECHNOLOGY COMPANIES:
The companies use
softwares and applications to provide financial services to their customers.
This is creating a biggest challenge for traditional banking system.
is a solution, by providing online services to their customers it will lower
the cost of transaction.
Development is also a major problem in banking industry, because the management
trainee programs of banks are not suitable or organized, until then, the
trainee programs will not focus on the purpose of selecting high potential of
talent and it will not be achieved by banking industry.
bank should introduce trainee programs to develop their schemes and department,
so that candidates can be motivated and encourage to work properly.
INTEREST RATE VARIATION:
rate variation is also an emerging issue in the economy. Interest rate vary
because banks also invest their money on other places. Interest rate is the
market price at which resources are transferred.
rate on savings should be low, so businesses are more likely to invest their money. These
investment lead to an economy expansion.
Our purpose of project
was to highlight the problems of banking industry, so for our knowledge our
group visited several banks from where we received a lot of information about
whole banking industry including their own bank problems. Banks are trying to
solve these problems by training their staff members.