Empirical Study of Level of Customer Service at Commercial Banks

Abstract

In the contemporary customer centric scenario, the main driver of banks’ success and endurance is satisfying the ever increasing demands and expectations of the customers. To assess the customer service standards in banks, this paper is a study of the level of customer service attained by scheduled commercial banks with respect to the guidelines issued by the Reserve Bank of India. The objective is to find the key challenges and gaps in fulfilling the customer needs based on a comparison of initiatives taken by the public sector, private sector and foreign banks. Keeping in view the banker-customer interface on a regular basis, the authors have studied the customer (bank) attributes of satisfaction vis-à-vis the guidelines given by the regulator. Samples have been collected through questionnaires with respect to 16 attributes and the data has been interpolated in variant terms.