Study on Customer Perception towards Service Quality Attributes of Public Sectors Banks and Private Sectors Banks (original) (raw)
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A Study on Customer Perception on Service Quality in Commercial Bank: An empirical Study
With the increasing competition in the banking sector particularly after the 1991 financial sector reforms, The Indian baking sector has undergone a metamorphosis particularly after the 1991 banking sector reforms. The Increasing competition not only among the nationalized and traditional private sector banks but from the foreign banks has resulted in considering customer satisfaction as one of the important strategies of the banks. Above all, it has also been realized that the major strategy of withstanding the stiff competition not only to retain the old customers but also to attract the new customers through provision of better services and hence, in recent times provision of better and quality services to customers has become one of the focal points of the service agenda of banks and it is only the quality of the services provided that could help the banks to attract more and more of customers in a competitive banking. However, the common bank customer now-a-days is not fully satisfied with the services rendered by the banks alone. This is because, the human perception changes from time to time and from individual to individual. Hence, this change in perception of a customer of the service he gets makes the job of satisfying him at all point of time more challenging. It is therefore, necessary to for banks to continuously assess and reassess how customers perceive the services, what are the new and emerging customer expectations and how they can be satisfied on an ongoing basis. The present study attempts to analyze the customers" preference for the quality of services of the private and public sector banks.
Customer Perception of Service Quality Dimensions in Indian Banking Industry
International Journal of Research in Commerce and Management, 2013
In the present competitive environment in India, it has become difficult to survive in the service sector in general and banking in particular. For long run survival and continuous profitability for the banks in India, there is a need to firstly understand the customer perception of service quality and then to effectively implement it. The present paper is an attempt to understand the customer perception of service quality dimensions in banking industry. A sample of 100 customers of different public and private both banks in tri-city (Chandigarh, Panchkula and Mohali) was selected by using random sampling technique. Responses of customers were analyzed with the help of factor analysis. Ten factors were extracted. The result shows that the level of consideration is the most important factor in forming the customer perception regarding service quality in banking industry. The findings of this paper may benefit the banks by applying these findings to create better satisfaction to the customers.
International Journal of Business Administration, 2012
Banking firms like other service providing firms are trying to improve their service quality to make customers satisfied with their services in order to survive in the dynamic business environment. This research paper uses the SERVQUAL model to identify the gap between customer expectations and perceptions of the actual service received in public and private banks in India. Outcomes of the study outlined that customers' expectations are more with the private banks and the level of satisfaction is also higher while they deal with the private banks. In order to satisfy the customers the public banks should focus on improving the service in terms of tangibility, reliability, responsiveness and empathy.
As in so many other industries, banks are striving hard to become increasingly customer-centric in order to survive and grow. Achieving this customer focus requires retaining of existing customers by providing quality services. In the competitive market, every individual is in need of better services. If you fail to provide required service, they will switch over to another bank which provides better quality services. The present paper discusses issues relating to customer services in both the ICICI and SBI Banks. In order to understand the customer perception towards services rendered by both the banks, many attributes such as cooperation & Behavior of staff, ATM services, Basic facilities, cheque collection time etc. were considered. The study reveals that ICICI bank is much ahead of SBI bank in providing quality services to their customers.
10.5937/sjm9-4511 = Assessing customers' perceived service quality in private sector banks in India
Serbian Journal of Management, 2014
This paper aims at constructing a measure of service quality for Indian private sector banks. The SERVQUAL model was used. In total 28 variables were considered to find their relative importance from customers' point of view. Factor analysis was used to reduce redundant variables and finally four dimensions were identified that are the dependability with facility, guarantee, security with value added services and compassion with cordialness. Then RIDIT test was done to identify the prioritization pattern that customers assign to different variables. The result shows that customers believe that bank's effort in instill confidence in customers, the bank's concern for customers' best interest and safety standards in transactions are vital factors for improving customer satisfaction.
Service Quality in Public and Private Sector Banks of India
2016
Banking sector and its performance play an important role in an economy. The current scenario of Indian banking sector is very dynamic and competitive. To maintain market share it is necessary for banking institutions to acquire large customer base. Customers today are very much aware about various financial services and institutions, moreover they are spoilt for choice. Therefore they can only be retained by providing quality services. The present study focuses on the service quality and customer satisfaction among private and public sector banks in India. It also attempts to compare service quality gaps between customer expectation and satisfaction regarding banking service. The outcome of the study shows that service gap is lower in private sector banks than public sector banks. Reliability and assurance are the dimensions where no significant difference has been observed between public and private sector banks.
Service Quality as a Key to Customer Satisfaction An Assessment with Private Banks in Odisha
With the advent of liberalization policy and RBI's easy norms Private and Foreign banks entered into the Indian banking sector with a high technology -banking matching with international standards. Today India is swamped with many private banks rendering various types of services to their customers. In this highly competitive and market oriented environment it has become imperative for the private banks to perform to the best of their abilities to retain their customers by catering to their explicit as well as implicit needs. Many a times it happens that, banks fail to satisfy their customers which can cause huge losses for banks. The purpose of this study is to assess private banks in terms of customer satisfaction and to study various variables of service quality using SERVQUAL model. The work has been carried out with the objective to understand the reason of customer dissatisfaction and what are the opportunity areas wherein the private sector banks need to focus so as to strengthen their relationship with their customers.
TIJ's Research Journal of Economics & Business Studies - RJEBS, 2015
The vital part of any economy relies mostly on banks. In Severe competitive environment the banks has to survive or success by the customer satisfaction. This paper interested to measure the delivered quality service dimension from the perspective of customers. The sample study performed in three private and three public sector banks of Tamilnadu state of India. The present study focuses the various aspects related to bank industry namely the BANKSERV factors, internal and external service qualities and customers’ satisfaction. The BANKSERV instrument was adapted from SERVQUAL designed to allow customers to reflect on their expectations and perceptions in single statements. Multiple regression analysis used to test the impact of service quality on customer satisfaction. Concluded as service quality is an important antecedent of customer satisfaction also the internal service quality is having a significant impact on the external service quality offered by the bank.
IAEME PUBLICATION, 2020
In today's generation service quality in both private as well as public banks are treated as most important factor and asset for satisfying customer which indeed increases the customer loyalty and retention rate of customers. The aim of this research paper to do a comparative analysis of the service quality in both private as well as public sector banks. Moreover, we tried to build a relationship between various service factors like responsiveness, assurance, empathy, reliability and tangibility to the customer satisfaction. Prior research suggests that there is difference between customer expectations and customer actual experience with respect to different sector. By realizing the gap between perceived and actual service quality, customer satisfaction in banking sector can be improved