Branch transactions a minority in ICICI Bank


During IIIT-B Board meeting today KV Kamath of ICICI Bank was talking about
the adoption of technology by Indian consumers. According to Kamath Internet
banking is a reality with millions of Internet account holders and half of
them being active. With ATM accounting for another siginificant portion, the
cash transactions in teller counters is a minority in ICICI Bank; in which
case, branches in their traditional role to do just transactions, that too
cash transactions will soon cease to be a competitive weapon – a message that
public sector banks would be well worth taking note of!
Though ICICI
Bank’s customer-base can be termed Yuppie Indian (urban youth) other Indians
will not be behind for too long.

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