As the country's HNI population is on a rise, the segment is hard to ignore for domestic banks.
Tagged as a sleepy, regional lender till a few years earlier, the bank's stock was not much talked about in the investors' community.
Tata AIA Life Insurance has 13 people at the senior vice-president level.
The rising spends on credit cards, increase in sale of third-party products and surge in consumer loan demand have allowed banks to limit the impact of slowdown in corporate fee income.
High inflation continues to be an obstacle in lowering policy rates as of now.
Will offer lower rates on home loans till end of 2012.
Standard & Poor's on Wednesday lowered the stand-alone credit profile of two government-owned lenders- the State Bank of India and Union Bank of India citing concerns over their asset quality and high credit cost.
Nine of 10 bankers who attended the meeting admitted their sanctioned loan pipeline was shrinking fast due to tepid demand.
Bankers say amid the uncertain macroeconomic environment, their greatest worry is the stress on asset quality.
Currently, the bank charges Rs 50 as cash processing fee.
Banks' loans are set to grow at the slowest pace in a decade this financial year, as companies continue to shy away from borrowing in the current uncertain macro-economic environment.
The government is expected to wait till January for announcing its higher borrowing requirement for the financial year, instead of incorporating it in the second half loan calendar to be issued later this month.
Private lenders like Federal Bank and Axis Bank have set up branches that have special areas for children, with books, toys and video games to keep them engaged while their parents are busy doing banking transactions.
The yields on the US Treasuries that are used as a benchmark for pricing dollar-denominated bonds eased providing relief on overall pricing.
It is not often that you find a mechanical engineer leading the private banking business of a foreign bank in India.
Credit cards appear to have found favour with public sector banks, which had, so far, been reluctant in expanding their unsecured loan portfolios aggressively.
With the Reserve Bank of India (RBI) allowing people to receive money more than twice a month from abroad, the companies facilitating transfer services are set to cash in, too.
Lenders also allow customers to conduct other businesses from such chambers
ICICI Bank, the largest private sector lender in the country, is offering an 'instant account number' if you apply for a savings deposit account through its website.
SBI Cards, like most other credit card issuers in the country, suffered losses during the financial crisis of 2008-09 due to sharp increase in delinquencies. The company, a joint venture between State Bank of India and GE Capital, turned profitable in 2010-11. Kadambi Narahari, chief executive officer, shares the strategy to grow the company's cards business in coming years.
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