Customer's satisfaction in public and private sector banks in India: A comparative study.

Abstract

Banking is to be considered as pure financial service industry and responsible for the economic development of an economy upto great extent. Satisfaction of customers is the vital for retaining existing customers and attracting prospective customers to widen the level of operational activities in any concern. In India, Private and Public banks are rendering financial services. The Policies and Strategies of Private and Public banks are different that leads variation in the customers’ satisfaction level. This paper tries to measure satisfaction level of customers of Public and Private Banks and factors responsible for variation in customers’ satisfaction between Private and Public banks in India. The objective of the research is to get the satisfaction level, variations in satisfaction level and reasons responsible for variations in satisfaction level or dissatisfaction in public and private banks. This research is based on primary informations obtained from customers of Public and Private sectors banks in India. Overall, Customers of Private and Public sector banks are satisfied except some tangibles and behavioral factors of the banks employees due to the policies, strategies for tangibles and inefficiency of the employees. So, there are need to consider tangibles and behavioral factors of the employees to enhance the level of satisfaction in Public banks.