An Examination Of Financial Attitudes, Behaviors And Influences Towards Banking

Wells Fargo conducted a national survey of financial attitude and behaviors in 2013 and found that over one third of Chinese-Americans (37%) reported a $100,000 annual earning, compared to only 23% of all adults in the U.S. (Wells Fargo, 2013). Oh and Min (2011) employed the 5 percent 2000 Public Use Microdata Sample from the U.S. Census to compare the earning patterns among Chinese, Filipino, and Korean Americans in New York. The sample consisted of male workers between 25 and 64 years old. The reason was that the earning patterns and behaviors were different between the male and female workers. Three generations were studied in this research: the first generation, the 1.5 generation and the second generation. First generation referred to

By international standards, however, there is still much scope for retail banking in India. After all, retail loans constitute less than seven per cent of GDP in India vis-à-vis about 35 per cent for other Asian economies — South Korea (55 per cent), Taiwan (52 per cent), Malaysia (33 per cent) and Thailand (18 per cent). As retail banking in India is still growing from modest base, there is a likelihood that the growth numbers seem to get somewhat exaggerated. One, thus, has to exercise caution is interpreting the growth of retail banking in India.

Banks are the most significant players in the Indian financial market. They are the biggest purveyors of credit, and they also attract most of the savings from the population. Dominated by public sector, the banking industry has so far acted as an efficient partner in the growth and the development of the country. Driven by the socialist ideologies and the welfare state concept, public sector banks have long been the supporters of agriculture and other priority sectors. They act as crucial channels of the government in its efforts to ensure equitable economic development.

Presence of banking services and products aims to provide a critical tool to inculcate the savings habit. It also creates avenues of formal credit to the unbanked population who are otherwise dependent on informal channels of credit like family, friends and moneylenders.

Purpose - This study is aimed at investigating the factors influencing the online banking acceptance in Kota Kinabalu, Northern Borneo, Malaysia. Design/methodology/approach - This study applies technology acceptance model (TAM) as the base model in to investigate the online banking acceptance. For this purpose, a linear regression is employed to examine the factors influencing online banking acceptance. The model employs perceived credibility, perceived enjoyment, and social norm, in addition to perceived usefulness and

In this paper I have discussed about different types of bank rates prevails in Indian banking system, their history and impact on economy if changed.

Banks must start now to access their customers to build better customer relationship management (CRM) and loyalty.

Global internet access was over 100 million people in December 2005, presenting innovative advertises for internet-based services like internet banking. Since the new millennium, internet banking has knowledge of volatile expansion in various countries and has changed traditional banking practice. Introducing internet banking services, traditional financial organizations search for lesser operational outlay, develop consumer banking services, keep customers and enlarge share of client. Current proof propose that an internet-based consumer banking tactic might be efficient, among reports of more beneficial, faithful and devoted consumers compared among traditional banking customers. Therefore, recent banks currently look upon the internet channel similarly significant to traditional channels of branches, automated teller machines (ATM), telephone banking and call centres. In the innovative banking atmosphere, internet banking is gradually more handled as an operational action and a significant part of a multi-channel tactic.

Banking in today’s era is in process of upgrading itself by joining the wave of latest technologies and trends. Currently, it is in the midst of chaos and disruptions and is in process of reshaping its business models to alienate the traditional processes. The driving force for Banks to adopt such changes can be a. Changing customer needs, b. Optimization of cost and Banking Operations, c. Digitization and Automation, d. Streamlining of complex and lengthy processes and e. New competitors in the industry.

Finance is assumed to be one of the most important tools for the growth and poverty improvement in a country. Financial inclusion is a vision for every country to achieve so that it can provide quality services to its citizens. Govt. Has introduces many schemes to achieve the aim of Inclusive growth and abandoned access to Financial services. Many initiatives, schemes and reforms have been put into the place after independence. Many Cooperative Banks where introduced to supply credit for farming purpose and for this cooperative banks came into existence immediately after Independence and further it was followed by the nationalization of many banks and priority sector lending and subsequently. Indian shifted from an agriculture economy to Industrial economy and later to Services sector Economy, but center of attention shifted from subsidized credit and to important sector lending to enterprise driven.

The RBI has granted operating approval to a few privately owned domestic banks; of these many commenced banking business. Foreign banks operate more than 150 branches in India. The entry of foreign banks is based on reciprocity, economic and political bilateral relations. An inter-departmental committee approves applications for entry and expansion.

My summer project with HDFC BANK proved to be highly valuable and informative sojourn. I got some valuable insights from this exercise, which has definitely enabled me to hone my skills and widen my perspective towards banking in its modern prospect.

Financial inclusion has recently become the buzzword among the policymakers and bankers and in academic research. It is considered as an integral part of the efforts to promote inclusive economic growth. Financial inclusion has been the utmost priority for the government of India as well as the Reserve Bank of India. One of the executive at a prominent Public Sector Bank says, Financial Inclusion is a social obligation for the government, and social obligation, mandatory obligation as well as Business opportunity for the banks and financial institutions. Financial inclusion represents the access to safe, easy and affordable financial services for poor, vulnerable groups, disadvantaged areas for accelerated growth and for

Even after 68 years of independence, still large section of population remains unbanked which mainly include poor people who don’t have regular income or people who are laborers and also large number of farmers are excluded from financial services. This malaise has led generation of financial instability in our country and lower income group faces many problems in terms of financial services because access to financial products and services is very costly for them they can’t effort such charges that’s why they are unbanked today. However, in the recent years the government and Reserve Bank of India has been pushing the concept and idea of financial inclusion.

The recent guidelines on New Bank Licenses by RBI have opened the doors for the entry of third set of private banks into the 73 trillion banking sector. Taking a look at the non-financial players like Aditya Birla Nuvo Ltd, Reliance Capital Ltd, L&T Finance Holdings Ltd, and Bajaj Finserv Ltd.which having a past record of sound credentials and integrity along with being financially sound have run the competition. Not only that, with a successful track record of 10 years, one would normally hope of improved productivity of the banking sector, which has been seen stagnating over the last few years and this gives a new opportunity for new