A small bank, which did not have the funds to pay for expensive
real estate, came up with the idea of using other people’s premises: schools,
petrol pumps and super-markets. Then they moved seamlessly into a growth path,
starting thousands of ATMs and mobile banks. Today, they are one of the largest
banks in India.
More recently, many banks have introduced the concept of 24-hour
direct banking with business being carried out by anonymous people at the end
of a telephone. This is neutralizing the competitive advantage, which
established banks enjoyed by virtue of functioning from prime sites in Mumbai.
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