For Complete IIPM Article, Click on IIPM Article
Source : IIPM Editorial, 2007
An IIPM and Professor Arindam Chaudhuri (Renowned Management Guru and Economist) Initiative
stomers well and serve better. In figures, the latest results (year ending March 31, 2006) of the ban
k showed that the bank clocked a total income of Rs.41.07 billion (up from Rs.31.46 billion previous year), with a profit of Rs.11 billion. To build on its India presence, the bank has also ventured into myriad social initiatives, covering areas like financial literacy, primary education and microfinance. Citibank pioneered ATMs in India, but ICICI and SBI snatched this advantage and proceeded to build the biggest ATM networks in the country. But as part of the India story since 1902, Citigroup was not one to give in easily. Today, Citibank stands tall as the largest foreign bank in India, and growing!We identified retail financeas the key growth opportunity at the beginning of the decade and built a scalable platform for capitalizing on this opportunity. When the going gets tough, K.V. Kamath gets going! It’s this attitude at ICICI Bank that has helped it to maintain its leadership. ICICI Bank – India’s most valuable bank at $20 billion has ensured that it remains an integral part of India’s growth story. Ever since the private bank transformed itself from an ailing financial institution to a truly universal bank, ICICI has become known for its aggressive promotions, with the Big B as brand ambassador to boot. The upper hand that the bank enjoys today in most of its products – be it project finance or retail lending – only proves that they have succeeded. Needless to mention, the northward graphs for credit cards and personal loans.
For Complete IIPM Article, Click on IIPM Article
Source : IIPM Editorial, 2007
An IIPM and Professor Arindam Chaudhuri (Renowned Management Guru and Economist) Initiative
ge stores located near suburbs where Americans drive 20 to 40 kilometers from their homes to stock up for the week or the month. And many research studies have revealed that it is the lower middle class and relatively lower income families in America that really need and benefit from the discounts that Wal-Mart offers. The scenario in India is dramatically different. An overwhelming majority of Indian families (even urban Indian families) don’t own a car they can drive to the suburbs for a regular refill of Wal-Mart goodies.
ge stores located near suburbs where Americans drive 20 to 40 kilometers from their homes to stock up for the week or the month. And many research studies have revealed that it is the lower middle class and relatively lower income families in America that really need and benefit from the discounts that Wal-Mart offers. The scenario in India is dramatically different. An overwhelming majority of Indian families (even urban Indian families) don’t own a car they can drive to the suburbs for a regular refill of Wal-Mart goodies.
nk the editorial team at Business & Economy has gone a little wonky and is perhaps losing its marbles. After all, Wal-Mart generates annual revenues that are equivalent to about 40% of India’s GDP; it has about 12,000 stores across the world; it has virtually perfected the art of discounting and selling cheap (something that should be music to the ears of price sensitive Indian consumers); it has wisely roped in Sunil Bharti Mittal, one of the most successful entrepreneurs in the last decade, as the local partner; and it has the financial clout that all companies in India Inc can only fantasise about! Given these seemingly overwhelming odds, how on earth did Business & Economy arrive at the conclusion that there are very high chances of Wal-Mart failing in India? Let’s do away with the most obvious reasons first.