2020 June Nmims assignments - Share your opinion on the growing importance of sales team in banks an

2ND SEM NMIMS JUNE 2020 SOLVED ASSIGNMENTS



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2ND SEM NMIMS JUNE 2020 SOLVED ASSIGNMENTS



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Retail Banking

1. Mr. Raj has recently graduated and got placed in a private sector bank and is unaware of the banking sector and its operations. Being his reporting manager you need to brief him with the Principles of lending and need to explain him in details about the same.

2. Retail banking is the most visible face of banking for the general public and has baskets of products for meeting customer’s ever ending demand. Express your opinion on how Retail banking can be used as a risk diversification tool. (10 Marks)

3RD SEM NMIMS JUNE 2020 SOLVED ASSIGNMENTS



3. “With increased competition and entry of new players, the banking landscape has made a sea change in the recent years. Sales team forms an integral part in banks and helps in enhancing customer satisfaction”

a. Share your opinion on the growing importance of sales team in banks and their contribution for attaining customer satisfaction (5 Marks)

b. Enumerate direct sales and the advantages of Direct sales in banking sector (5 Marks)

3RD SEM NMIMS JUNE 2020 SOLVED ASSIGNMENTS

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4TH SEM NMIMS JUNE 2020 SOLVED ASSIGNMENTS

 

[Dhruv Bindhani]

For Mr. Raj, a newcomer to the banking sector, understanding the foundational principles of lending is paramount. These principles guide banks in making sound credit decisions, ensuring both the safety of their funds and their profitability. The core principles include Safety, meaning the borrower's ability and willingness to repay the loan; Liquidity, ensuring the bank's funds are not locked up for too long and can meet depositor demands; and Profitability, where loans generate sufficient interest income for the bank. Beyond these, banks also consider Diversification of their loan portfolio across various sectors and borrowers to mitigate risk, the Purpose of the loan (preferring productive over unproductive uses), and the availability of Collateral as a safety net. Assessing the borrower's "5 Cs" – Character, Capacity, Capital, Conditions, and Collateral – is integral to upholding these principles, particularly safety.

Retail Banking as a Risk Diversification Tool​

Retail banking, with its diverse range of products aimed at individual customers, serves as a powerful risk diversification tool for banks. Unlike wholesale banking, which might involve large exposures to a few corporate clients, retail banking spreads credit risk across a vast number of smaller loans (e.g., personal loans, home loans, credit cards, auto loans). If a few individual borrowers default, the impact on the bank's overall portfolio is minimal compared to a large corporate default. This broad base of customers and product offerings also diversifies revenue streams, reducing reliance on any single product or segment. Furthermore, retail banking often involves geographically diversified operations, shielding the bank from localized economic downturns. The stable and often sticky nature of retail deposits also contributes to liquidity management, further mitigating risk.

The Growing Importance of Sales Teams in Banking​

The modern banking landscape, characterized by intense competition and the entry of new players, has transformed banks from mere financial facilitators to customer-centric organizations. The sales team has become an indispensable part of this evolution. They are the primary interface with customers, responsible not only for selling products but also for understanding customer needs, building relationships, and enhancing overall satisfaction. Their contribution is crucial for revenue generation, customer acquisition, cross-selling, and up-selling. By offering personalized solutions and educating customers on financial products, sales teams foster trust and loyalty, which are vital for customer retention and positive brand image in a competitive market. Their direct interactions also provide valuable market insights that can inform product development and service improvements.

Advantages of Direct Sales in Banking​

Direct sales in the banking sector, often facilitated by Direct Selling Agents (DSAs), offer several distinct advantages. Firstly, it allows for cost-effective expansion, particularly into new or rural markets, without the significant overheads of establishing physical branches. Banks pay commissions based on successful sales, making it a performance-driven and efficient model. Secondly, DSAs provide personalized customer guidance, helping individuals navigate complex financial products and choose options best suited to their needs. This direct, tailored approach can simplify the customer journey. Thirdly, direct sales enable deep market penetration and insights into local customer demands and preferences, which can be invaluable for product strategy. Finally, it fosters stronger customer relationships built on direct interaction and trust, leading to increased loyalty and repeat business.