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Bit about the subject topic
Bank is a very well-known term to all. People save some amount of money with a specific interest rate for their future in bank. They save for business investment, for educational purpose, for making property for medical ground for pleasure trip etc. Except these bank has other activities too such as, life insurance policies, investment indifferent private business sector and government sector too, invest in mutual fund, offering lone in a specific interest rate to the public etc. If you want to learn more you can log on 24x7assignmenthelp.com.
Generally three types of banks are there they are:
- National bank,all the shares of these banks is solely hold by the government.
- Public sector bank, more than fifty percent shares of these banks are hold by the government and left are hold by the individuals or private institutes.
- Private sector banks are those, where the most of the share such as more than fifty percent shares are hold by the individuals or private institutes.
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Advancement with modern technology
In thisopen market and internationalize economy banks play a significant role. In London and America banking sector is still controlled by the individual or private institutes. So, globally private sector banks have a great importance. Keeping this point in the mind several technological developments has been introduced in the field of private sector banks for better service and better business. Such as
- Introducing sell phone i-phone etc.
- Introducing internet and website
- Giving multicurrency option
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Rating of private sector bank
When more options are available for getting any product or service, then comparisons come naturally. Rating and ranking is the necessary requirement for doing the right assessment to select the best option For rating the private sector banks the most important factors are
- Quality of service
- Number of customers
- Money transaction
- Total income
- Net assets
- Technical development
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