Cross Marketing of Financial Products in Public Sector Banks: Empirical Evidence from Bengaluru Metropolitan in Southern India

Abstract

Cross marketing business of the financial products and services is a subsidiary activity of the financial institutions is now become an integral activity undertaken for earning non-fund income. This research has empirically examined the business of the public sector banks in a most vibrant urban setting following standard sampling method. It is found that the cross marketing is undertaken additionally with existing human capital, time, space but without capital investment. Employing seven different methods, the banks have made it a mandatory responsibility of the employees and have gained five benefits from the cross marketing. The banks have come across many challenges like the business competition, retaining existing customers, customer satisfaction etc. The study being originally field based, offers many policy implications to facilitate the sustainable banking business like designing tailor - made innovative products, maximising customer satisfaction, business based incentives for the employees without sacrificing core banking products.