A study of customer relationship management in banking industry

EVOLUTION OF BANKING INSTITUTION Banking operations have always been the backbone of the economy. It provides for the most crucial factor of production i.e. capital. Crowther elaborated on three ancestors of banking viz. the merchant, moneylenders, and goldsmith. But, the face of banks and banking operations has changed a lot over the past few years. Banking has been in existence for a long in various forms and in its crude form is an age-old phenomenon. It was in existence even in ancient times. The activities of moneychangers in the temples of Olympia and other sacred places in Greece took around 2000 BC. "Traces of credit by compensation and by transfer orders are found in Assyria, Phoenicia, and Egypt before the system attained full development in Greece and Rome (Macleod: Theory of credit). Revilpout, a French writer, mentioned about bank arid bank notes in Babylon 600 BC.