New Delhi: With the onset of new technology and mobile banking, consumers are becoming increasingly demanding when it comes to retail banking services. Better service, faster products is the mantra of the new generation. Gone are the days when generations depended on the same bank for their financial needs. The 'loyalty' factor is gradually loosing ground to convenience. The consumer revolution in the banking sector is knocking the doors.

Banks have responded to these demands in a positive way and it was ICICI Bank who took the banking experience to the next level for consumers in India. Very soon it was flocked by people with their money and the bank witnessed record breaking growth and very soon occupied the privileged position of the largest private sector bank in India.

ATM cum Debit cards, credit cards, mobile banking, internet banking, door-step banking, cheque collection, online balance enquiry, loan on phone etc. went a long way in ushering the era of convenience banking. Banks had no other option but to upgrade their services and become tech savvy.

Western India particularly is adopting to these technologies at a very rapid pace and pushing retail banking to limits. With the advent of festive season demands for retail loan is expected to rise manifolds since, people from this region don't hesitate to take a loan to fund their festive purchases. Demands for small to medium ticket personal loans for purchases of electronic equipments, home furnishings etc. will witness a surge.

This area captures 36 percent of the of the retail loan portfolio of the entire banking industry, and country’s third largest public sector bank, Bank of Baroda, gets about 47 per cent of its total deposits and 54 per cent of its total retail credit from this territory.