do you believe bank mergers affect the average consumer List

do you believe bank mergers affect the average consumer? List pros and/or cons

Solution

Bank mergers affect the average consumer depend upon the merge entities:

Pros:

1) lower MCLR rate because of reduction in operational cost

2) Cross selling of products and services which increases the customer engagement and customer satification.

3) Will get technology for the bank who don\'t have.

Cons:

1) Different in culture and integrity of departments entities at functional level.

2) lead to low customer engagement because of different culture and service furnish by different bank entity.

3) Lead to less number of choices for customers as there might be close of many services because of repeatability or same services furnish with different banks.

4) Less number of innovative products and services because reduction in number of players in the market or competition has reduce.

5) Can create monopoly in the market and increase the price of product and services.

6) when two bank merged and have account in both bank then insurance against the deposit money in bank account will reduce compared to money saved.

7) If the merged entity fail will affect huge to customer and country economy.