Foreign Banks Targeting Newer Segments of Customers in India*

Details

Case Code : CLBS102
Publication date : 2009
Subject : Business Strategy
Industry : -
Length : 03 Pages
Price : Rs. 100

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Key words:

India, Foreign banks, Standard Chartered bank, Citibank, product, risk, outreach, affluent, threat, Public Sector Banks (PSBs), regulatory measures, economic reforms, liberalization, financial sector reforms, banking reforms, credit card industry, priority sector lending

Note

* This caselet is intended for use only in class discussions.
** More comprehensive case studies are priced at Rs.200 to Rs.700 (US $5 to US $16) per copy.

 

Abstract:

On June 16, 2008, two of the leading foreign banks in India, Standard Chartered and Citibank came up with different products like Plus Extended Protection Plan and Citigold Global Banking respectively. Both the foreign banks expected to expand their market base in India in a big way in the future by reaching out to customers in better ways than the public sector banks and other aggressive private banks.

Introduction On June 16, 2008, Standard Chartered Bank (Standard Chartered) and Citibank, two leading foreign banks in India, came up with two new products in the domestic credit card industry to woo Indian customers, giving a boost to their Indian retail operations. In collaboration with the Tata AIG General Insurance Company Ltd, Standard Chartered came up with a product, 'Plus Extended Protection Plan'. The Plus Extended Protection Plan provided risk cover for lost cards...

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