CUSTOMER RELATIONSHIP MANAGEMENT IN STATE BANK OF INDIA

Abstract

Although banking is an old activity and has roots on Economics, Finance and Commerce, the concept of Customer Relationship Management is of recent origin. To many people Customer Relationship Management means “A co-ordinate approach to the selling process allowing the various operational, customer contact and sales promotional functions of an organization to functions as a whole”. Universally conducting efficient banking operations and associated business involves managing; ➢ The information and communication technology that drives banks core business. ➢ Customer relationships. ➢ Risk associated with conducting business with customers and other banks and financial institutions. Successful banks all over the world have invested considerably in customer relationship management technologies, which in turn would increase banks’ profits considerably on one hand and improve the level of their customers in doing business with them on the other hand. Further such banks are very sensitive to the risks they face in dealing with money in the form of credit risk or market risk or operational risk. Banks continuously embrace, with great favor the latest development in customer relationship management and information and communication technologies in order to service better and reap more profits.