PESTEL ANALYSIS

OF BANKING
INDUSTRY

BY:
NANCY TATWANI
 P E S T E L
POLITICAL ECONOMICAL SOCIAL TECHNOLOGICAL ENVIRONMENTAL LEGAL

• More than • High net interest • Increase in • Post demonetization, • Due to the • Introduction of
35 crore bank margins & low NPA working the payments are introduction of Goods &
accounts have levels ensure healthy population & revolutionized due facilities like Green Services Tax
been opened business. growing to stress on Online Pin, there is a huge (GST)
under Pradhan disposable income Wallets & Plastic reduction in usage has helped in
Mantri Jan • Due to rising GDP are expected money. of Paper. removing the
Dhan Yojana & healthy regulatory to enhance the cascading of
(PMJDY), which oversight along need for • Mobile banking, • As most of taxes.
envisages to with credible monetary banking services. internet banking & the transactions
give banking policy by RBI, this various facilities at are cashless, huge • The Insolvency
facilities to all. sector is expected to • Rural banking is the ATM will further amount of paper is and
benefit. also expected to increase the operati saved due to less Bankruptcy
increase in the onal efficiency. usage of notes. Code (Amend
• More than 120 • With entry of future and therefo ment) Ordinan
million people foreign banks, re drive • Due to the launch of • Due to ce, 2017 Bill
are benefited competition has the growth of the mobile app digital payments, has
under MUDRA intensified. sector. called Jan Dhan people do not visit been passed
scheme. Darshak, financial the banks often, and is expected
service touch points hence reducing the to strengthen
can be located easily carbon footprint. the banking
for common people
now.
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