Customer Perception towards Internet Banking Services in Sivagangai District, Tamil Nadu

Abstract

Banks in India play a crucial role in the financial sector of the country. They raise deposits from the public, offer loans and advances to industry and commercial establishments, responsible for the flow of credit, offer priority sector loans, take care of the working capital requirements of the medium and small enterprises, provide housing and educational loans and offer a host of other financial services. Hitherto they were enjoying a monopoly or near monopoly situations and were operating in a sellers’ market, thanks to the government patronage. But, with the liberalization of the economy and entry of new large scale private sector banks, and the foreign banks establishing branches in India, the entire scenario has perceptibly changed. Suddenly, they have been forced to function in the buyers’ market. The customers started demanding good quality of service from the banks. The introduction of information technology worldwide has further forced these banks to adapt themselves to the needs of the customers. Bank oriented service got changed into customer oriented service. Objectives of the study are set, hypotheses have been framed and tested. Meaningful findings and conclusions are arrived at. Suggestions to further improve internet banking have also been offered. Thus, it is hoped that the study will contribute significantly to the existing knowledge in the field.