A Study on “Lending Strategies and Technological Advancements of Financial Sector” with Special Reference to Kanyakumari District Central Cooperative Bank Limited

Abstract

Banking is essential for the economy because it makes money easier to move and makes economic activity possible. The primary functions of a bank include taking deposits, making loans, assisting with transactions, and providing a range of financial goods, such as credit cards, loans and savings accounts. Here, the lending strategies adopted and the different technologies used by the bank for the growth of the bank and for the welfare of the people. The different lending policies adopted by the bank makes the people to take more loan. The main purpose of this study is to evaluate the degree of technologies used in lending, the internet banking services and its impacts on customer engagement and to know about the innovative strategies used by the bank. The research methodology used here is descriptive analysis. The data is collected by preparing questionnaire and convenience sampling method is used. 120 responses had taken for the analysis and the tools used for the analysis were percentage analysis, one way ANOVA and correlation. Finally the analysis help to find out to give some more innovative strategies and few more technological innovation in the lending process to complete the loan process faster. Some more updations were made in the online banking services to make it more easier for the people and get to know more about their account activities in an easier way.