Importance of CRM in Indian Banking System - A Contemporary Insight

Abstract

Importance of banking sector in economy is just like blood in human body. Without banking sector existence of economy can disappear. Success of banking sector depends upon customers; when a bank can capable for making a good relationship with own customers and retaining then financial power of country improves. For retaining and discovering new customer, CRM a sound business activity. It’s helpful for promoting and improving relationship at global level. For retaining customer, every bank use many tool to generating credit in economy. Every customer except to own bank for getting good service perform with better way in short time. Other side bank effort for customer‘s expectations at sterling point. In this midway many variations born when bank failure to perform own service due to some causes just like lack of untrained staff, lack of automation system, lack of office material, lack of customer welcome system etc. For customer’s expectation achieving at sterling point, every bank should effort for alienate variation. Good service performance by banks in short time, it is a good symbol for our Indian economy. When good and prompt service performs by every bank towards customers our Indian economy will grow up with decimal growth rate.

Importance of CRM is highlighted in this paper for the purpose of increasing awareness between banks and customers. CRM is highly affected to Indian banking system but today also many customers are due to lack of knowledge run through away in rural areas but in urban sector banking activity is performing better than rural areas it’s variance will be remove shortly and it is fell that a new revolution bring up removing gap in relationship.