Ramanathan_Narasimha :
Yes, your observations look correct to me.
Probably, we need to look at Banking businesses in USA, UK and Europe to get some idea about future trends in Indian banking industry. In developed nations, current account and savings account interest rates were generally negligible in late 1990(s) and Now Indian banks are also moving in that direction. Retail investors in those developed nations have been investing in shares, mutual funds - equity and debt since 1990(s) and 2000(s) and Now that seems to be happening in India.
Most likely we may not get more than 1.0% to 1.5% interest on Savings account in next few years.
Also, Banks might start offering more Flexible FD / RD products and allow you to invest flexibly in RD as & when required like Mutual Funds. This might help them to retain few customers who need such flexibility.
We may see increase in penalty for breaking FD earlier than its tenure.
More innovations might be required to attract and retain younger customers. Also there could be rise in Fee(s) on various products to retain and increase their Fee based income. We may see substantial increase in ATM, Debit/Credit Card Fees, Cash Withdrawal Fees, Loan Processing Fees going forward over next decade.
This may or may not happen but there would be many such transformations going forward.
Note : This is not applicable to IDFC FIRST BANK but my general observations about Banking business model.