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    Literature Review Rishi

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    Ankit Tiwari
    The document discusses several studies that have examined factors influencing customer satisfaction levels at public sector banks versus private sector banks in India. Several key findings are discussed: 1) Private bank customers are generally more satisfied due to better services like multiple convenient locations, technological facilities, and customer relationship management. However, public sector banks maintain satisfaction through reliability, reputation, and lower fees. 2) Factors influencing satisfaction levels include service quality, infrastructure, technology, employee training, and responsiveness. Private banks perform better on many of these factors while public banks have room for improvement. 3) Both public and private banks need to focus on weaker areas like certain services, rural customer awareness, and employee interactions to further enhance customer satisfaction

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    Literature Review Rishi

    Uploaded by

    Ankit Tiwari
    132 views3 pages
    The document discusses several studies that have examined factors influencing customer satisfaction levels at public sector banks versus private sector banks in India. Several key findings are discussed: 1) Private bank customers are generally more satisfied due to better services like multiple convenient locations, technological facilities, and customer relationship management. However, public sector banks maintain satisfaction through reliability, reputation, and lower fees. 2) Factors influencing satisfaction levels include service quality, infrastructure, technology, employee training, and responsiveness. Private banks perform better on many of these factors while public banks have room for improvement. 3) Both public and private banks need to focus on weaker areas like certain services, rural customer awareness, and employee interactions to further enhance customer satisfaction

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    Literature Review rishi

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    The document discusses several studies that have examined factors influencing customer satisfaction levels at public sector banks versus private sector banks in India. Several key findings are discussed: 1) Private bank customers are generally more satisfied due to better services like multiple convenient locations, technological facilities, and customer relationship management. However, public sector banks maintain satisfaction through reliability, reputation, and lower fees. 2) Factors influencing satisfaction levels include service quality, infrastructure, technology, employee training, and responsiveness. Private banks perform better on many of these factors while public banks have room for improvement. 3) Both public and private banks need to focus on weaker areas like certain services, rural customer awareness, and employee interactions to further enhance customer satisfaction

    Copyright:

    © All Rights Reserved
    Download as DOCX, PDF, TXT or read online from Scribd
    Download as docx, pdf, or txt
    132 views3 pages

    Literature Review Rishi

    Uploaded by

    Ankit Tiwari
    The document discusses several studies that have examined factors influencing customer satisfaction levels at public sector banks versus private sector banks in India. Several key findings are discussed: 1) Private bank customers are generally more satisfied due to better services like multiple convenient locations, technological facilities, and customer relationship management. However, public sector banks maintain satisfaction through reliability, reputation, and lower fees. 2) Factors influencing satisfaction levels include service quality, infrastructure, technology, employee training, and responsiveness. Private banks perform better on many of these factors while public banks have room for improvement. 3) Both public and private banks need to focus on weaker areas like certain services, rural customer awareness, and employee interactions to further enhance customer satisfaction

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    Literature Review

    Puja K and Yukti A reveals that Private Banks have more satisfied customers due to
    good services. Private sector banks are successfully maintaining level of quantity of its
    customers by providing better banking services than Public sector Banks. In any
    economy, innovative technologies and changing expectations of markets, consideration
    of quality of each and every service is important to enhance customers’ satisfaction
    level. Further, Puja K and Yukti A advocated that success mantra could be customer
    centric orientation, where the customer relationships management with its customers in
    Private sector Banks has been successful in achieving its goals. However, Public sector
    banks have to improve in the area of dealing with the customers. Private Banks need to
    focus on their loan and insurance services while Public sectors banks need to improve
    their infrastructural facilities and provide some training to the employees’ who are
    dealing with customers. Equipped with latest technology, developed infrastructure and
    well trained employees, convenient office hours and locations of the branches are the
    factors affecting the customers’ satisfaction level.

    Mishra US, Sahoo KK, Mishra S and Patra SK (2010) explained that service quality,
    customers satisfaction, customers retention, customers loyalty etc. are the major
    challenges to in attracting and retaining customers in banking sector. Among all,
    customers’ satisfaction is playing a significant role in attracting, retaining customers and
    creating brand loyalty among the customers. Mishra US, Mishra BB, Praharaj S, and
    Mahapatra R observed that whole banking sector is facing the challenge of attracting
    and retaining customers. They revealed that public sector banks are better than private
    sector banks in attracting and retaining customers. The main factors for opening a new
    account are convenient location and reputation of the banks etc. Retired or higher age
    group business man customers prefer public sector banks due to its high reputation.
    The customers of public sectors banks are more satisfied than private sector banks.
    But, the major factors of dissatisfaction of customers in public sector banks are enquiry
    counter and front office services. The private sector banks are executing pure banking
    services while public sector banks have to deploy some social responsibilities.

    Nirmaljeet V and Prabhjot KM explains that infrastructural facilities in the branch not
    only leads to customer satisfaction but overall improves the working of the branch
    revealed that the Private Banks has advanced technologically but the reverse situation
    is available in Public sector banks observed from their analysis that that customer
    satisfaction in banks vary according to the quality of services. Nominal charges of
    services, location of bank branches and staff attitude towards solving problems of
    customers are the factors responsible for highest customer’s satisfaction. Private bank
    customers are more satisfied with their bank because of their multiple branches at
    convenient locations and technological facilities. Public sector banks are not so
    technologically advanced. But, Public sector banks are maintaining satisfaction level of
    the customers due to its reliability, high reputation in the society and low charges of the
    services. Customer care services of the Private Banks are better than Public sector
    banks.
    Vijay PG and Agarwal PK found in their research that the empathy, friendly attitude of
    staff, and customer guidance, customer support are the behavioral treatment factors for
    high customers’ satisfaction. Tangibility and empathy are the other factors create
    satisfaction among customers. Private and Public sectors banks are needed to consider
    the weak areas of the concern to enhance the level of satisfaction.

    According to Doddaraju ME, the behavior of Public sector banks employees are not so
    courteous comparatively Private sector banks. The Public banks should provide special
    training and developmental programs to the employees engaged in directly dealing with
    customers. Development of infrastructure and tangibility of the banks are also affecting
    the satisfaction level of the customers. The new schemes of the investment and other
    related informations should be published and displayed systematically. Customer
    relation management and promotional schemes of the banks also increase satisfaction
    level.

    Puri J, Yadav SP found that the public sectors bank performed better than private
    sector banks in all dimensions and revealed that the new private sector banks are
    performing better than the old private sector banks. The technical efficiency was better
    in public sector banks comparatively private sector banks indicated that the time factor
    is very important for the customers and customer relationship should be maintained to
    satisfy the customers. Location of the bank, timely delivery of the services and customer
    oriented policy making are the factors enhance satisfaction in Private sector banks
    resulting larger customers base. Public sector banks are equipped with latest
    technology and technically trained staff. The infrastructural appearances and extra
    services like home facility, round the clock facility etc. and query resolution through
    telephone, lowest prices of the services and above all availability of the multiple
    products are the special features in Private Banks to enhance the level of satisfaction of
    the customers observed that there is a significant relation between customer
    satisfaction and dimensions of service quality in Public sector commercial Banks.

    Khushboo B, Naveena C and Neha J explained in their study that people are more
    satisfied from the Private sector banks due to their better services provided by them in
    terms of fast transactions, fully automatic computerized facilities, more and convenient
    working hours, advisory services, skilled and co-operative staff, better customer
    relationship management etc. But, there is need to make aware rural customers about
    the services of Private Banks. The most facility availed by customers of the Public
    sector banks are ATM and least facilities are demat a/c and foreign transfer of funds.
    The Private sector banks’ customers are using internet or phone banking by ATM/ Debit
    card.

    Justin P, Arun M and Garima S explains about Private sector banks’ fast services,
    quick connection to the right person, efforts to reduce time in processing transactions,
    knowledge of the banks products and responsiveness of the employees are positively
    associated with the customers’ satisfaction level. In Public sector banks, slow services,
    low knowledge of banking products appearance is the factors negative for the
    satisfaction level of the customers.
    Kesari S and Nitin G explain in his studies that Public sector banks should work to
    attain the confidence of salaried class, lower age group customers, students and self-
    employed businessman people. Private sector banks should give much attention to the
    lower income group customers also because the higher income group found the
    services provided by banks to be more effective but high service charges, which is out
    of the reach of the lower income group of customers.

    Seema S stated that the performance of urban banks on service delivery and customer
    satisfaction exceeds the expectations of the customers in terms of physical facilities,
    appearance of employees and attitude of employees to help customers.

    Kumar J, Thamilselvan R stated in his research that private sector banks are
    competing with the public sector banks in terms of Capital Adequacy, Asset Quality,
    Management Efficiency, Earning Capacity and Asset Quality. They found that capital
    adequacy, assets quality and liquidity in public sector banks while management
    efficiency, earning quality banks was better, comparatively found that few customers are
    dissatisfied because of the poor responsiveness and empathy of the employees in
    urban and rural area branches. Further, concluded that there is need to give special
    training to the employees who are working in rural areas directly dealing with the
    customers. Equipment of branches with latest technology, Publication of required
    informations on the websites of the bank and unbiased behavior of the employees are
    the factors lead to customers’ satisfaction in banking industry.

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