Info Skill Hub » economic meltdown

When banking reaches your doorstep

admin — Tue, 10 Mar 2009 19:02:25 +0000

The competition in the banking segment has been able to create a churning in the entire society, whereby banks have started reaching your doorstep by bidding adieu to the conventional banking system. It had been a long term practice that people would be visiting the banks on their own and the banks will act like the superpower. Better late than never; the emerging banks in the recent past have thrown perhaps the biggest challenge to the entire banking segment and people have learned about their rights.

It is true that the Banks earn revenues from the people, to become more precise, it is the loan and advances, which become the lifeline of any bank.

This does not necessarily mean that the banks will start withdrawing all check points. The recent home loan scam and the economic meltdown have shown us how devastating it can be, if the banks omit even the normal checkpoints. It might be a late realization, but the banks have also understood about their basic norms and responsibilities. The bank should become more customer friendly and on the other, they need to keep stringent policies to ensure that money should not be wasted or they can not increase the burden of unsecured loan by leaps and bounds.

However, we all learn through experience and we all need to find out the best survival techniques keeping the competitors and the risk factors in minds. Even banks can not remain as exceptions.

Multifaceted role in 2009

admin — Thu, 01 Jan 2009 07:55:23 +0000

Any new year comes of with new hopes and the exuberant people becomes jubilant with the new resolution dominated by new aspirations and new spirit. The year 2009 signals the end of a very traditional era and starts with bountiful problems.

The recent economic meltdown has already cast its disastrous spell in various facets of life and its far reaching tentacles will surely horrify people in 2009.

The GDP of most of the countries have become down faced, a downturn in other economic parameters have been noticed all over the world. Banks, Credit Cards and all financial institutions have started tightening their funds from free flow like earlier and companies have started opting for mass scale termination. The individuals and even small enterprises have become highly cautious about their expenses.

Reserve Banks have started controlling the interest rates, liberalization in other fronts have already been started to save the people from biting the dust. US government and government of various countries have come up with huge amount of investment to rescue the leaders in the industry to create a balance.

Everybody has started pursuing policies that enable them to be better integrated with the global situation.

Its the time when the authorities have to earn trust of the investors to keep the show running as nobody can deny the advantages of globalization and everybody has to be in the race to leapfrog in development process.