Thesis Abstract and Dissertation Abstracts
A Study On Customers' Satisfaction Towards Banking Services Of Sbi In Kanyakumari District
Abstract Category: Accounts and Economics
Course / Degree: Master of Philosophy in Commerce
Institution / University: Manomaniam Sundaranar university, Tirunbelveli, India, India
Published in: 2013
1.1 Introduction
The business of banking is as old as the civilization itself. The mere fact that the Babylonians, in 200 BC, lent money at higher rates of interest against gold and silver under the temple’s safe custody, stands proof for banking history. In ancient days, the main function of banks was granting loans to individuals or the state in times of crisis.
Banking in India originated in the last decades of the 18th century. The first banks were the General Bank of India, which started in 1786 and the Bank of Hindustan. The oldest bank in existence in India is the State Bank of India, a government owned bank that traces its origin back to June 1806 and that is the largest commercial bank in the country. The passing of the Joint Stock Company act in 1850 greatly helped in the establishment of many commercial banks. Later in 1921, the Imperial Bank of India and in 1935 the Reserve Bank of India were also established. After independence in 1947, the RBI was nationalized enabling it with broader power. The government of India nationalized 14 large commercial banks in 1969 and six more banks were added to the list in 1980.
The banking industry in India is highly competitive, with banks not only competing among each other; but also with non- scheduled banks and other financial institutions. Like many other financial industries, the banking industry is facing rapid changing market, new technologies and economic uncertainties; fierce climates have presented and un-presented set of changes. Banking is a customer oriented services industry. Therefore the customer is the focus and customer is the determining factor.
The banking sector in India has made remarkable progress since the liberalization and the opening up of the economy in the 90s. The government’s decision to privatize banks by reducing state ownership culminated the banking reform based on the recommendations of the Narasimha Committee.
New private sector banks have brought the necessary competition into the industry and superseded the changes towards higher utilization of technology, improved customer service and innovative products. The prime motive of banks today is profit with clear indication from the government - “Perform or Perish”. Now banks have started realizing that business depends on client service and the satisfaction of the customer and this compels the bank to improve customer service and build up relationship with customers. With the emergence of universal banking, banks aim to provide all banking products and services offering under one roof and their endeavor is to the customer centric. With emergence of economic reforms in the world and in general in India, private banks have come up in a big way with prime emphasis on the technical and customer focused issue.
Customers are now becoming increasingly conscious of their rights and are demanding ever more than before. The recent trends show that most of the banks are shifting from a “product –centric model” to a “customer –centric model” since customer satisfaction has become one of the major determinations of business growth. In this context, prioritization of performance and close monitoring of the customer satisfaction have become essential for banks.
1.2. Statement of Problem
A Customer satisfaction is an ambiguous abstract concept. Satisfaction is a crucial concern for both customers and organizations including banks. The efficiency of banking sector depends upon how best it can deliver services to its customers. In the present day, in India, in order to survive in the banking industry, banks are required to continually improve the quality of services. In this study as attempt is made to evaluate the Customer’s satisfaction towards Banking Services of SBI in Kanyakumari district.
1.3. Significance of the Study
Customers are now becoming increasingly conscious of their rights and are demanding ever more than before. The changing needs of customers affect the expectation of value added servicing for basic banking requirements. This is made possible only in the post liberalization era through “customer centric” services.
There is a great demand for banking services; speed, service, quality and customer satisfaction which are going to become the key differentiator for the successes of banking industry in India. Therefore, it is necessary for the banks to get useful feedback on their actual response time and customers’ service quality and perceptions of banking, which will help the banks to take positive steps to maintain a competitive edge in the banking Industry.
In India most of the customers are not completely satisfied with services offered by the banks. In this environment, banks are forced to examine their performance because their survival in the dynamic economies of the coming years will depend upon their overall efficiencies.
1.4. Scope of the Study
This research focuses the level of customer satisfaction derived from banking services of SBI in Kanyakumari District. Furthermore it also includes the factors that determine the use of banking services. Issues pertaining to banks, customers’ satisfaction and banking services would also be considered.
1.5. Objectives of the study
The main purpose of this study is to evaluate customer satisfaction of banking service in the State Bank of India. The other objectives are:
• To examine the various services provided by SBI in Kanyakumari District.
• To identify the factors those influence the selection of SBI banking services in Kanyakumari District.
• To study the level of customer satisfaction towards the services provided by the SBI banks in Kanyakumari District.
• To examine the expectations and the level of satisfaction of the customers towards the service rendered by SBI.
• To make suggestions for improving the bank’s customer services.
1.6. Hypothesis of the Study
• There are no significant differences between the Socio – economic factors and the level of satisfaction of the respondents.
1.7. Operational Definitions
1.7.1. Bank
A bank is a financial institution and a financial intermediary that accepts deposits and channels those deposits into lending activities, either directly by loaning or indirectly through capital markets. A bank is the connection between customers that have capital deficits and customers with capital surpluses.
1.7.2. Customer
There is no stand by definition of the term “customer”. A person to be called a customer of a bank he should have an account in the bank.
1.7.3. Satisfaction
In the view of customers, the aspects regard to facilities, convenience, and ease can be termed of use, cost savings, time saving, human element, employee behaviour, grievance mechanism and security towards banking.
1.8. Period of the Study
The study was conducted during the period from August 2012 to June 2013.
1.9. Methodology
The methodology and design adopted for the study is as follows:
1.9.1. Area of Study
This study has covered the entire area of Kanyakumari District.
1.9.2. Method of data Collection
The research design adopted for the study was a descriptive research. It accounts for both primary and secondary data. Primary source of data were collected from customers through structured interview schedule by way of personal interview. The satisfaction reports of customers towards banking services were collected by oral interview. The interview schedule was finalized from the respondents of Kanyakumari district.
Secondary data were collected from books, journals viz. Indian Journal of finance, Economic and Political weekly, Southern Economist, Bank Finance, Magazines, Business India, Business Week, etc., Newspaper like Economic Times, The Hindu, Business Line and Websites.
1.9.3. Sampling Techniques and Size
Sampling is a technique or method of selection of samples. Convenient sampling method is used in this research. The researcher has taken 150 samples from the customers of SBI in Kanyakumari District consisting 38 samples each from Agstheeswaram, Kalkulam Taluks and 37 samples each from Thovala and Vilavamcode Taluks.
1.9.4. Tools for Analysis
The primary data were analyzed with the help of percentage, chi-square test and charts.
1.10. Limitations of Study
• Although a large number of people availed banking services, due to time constraint, the survey has been conducted only on 150 customers.
• The accuracy of the findings of study depends upon the correctness of the responses provided by the respondents.
• Unwillingness of some respondents to provide information is another limitation.
• Findings of this study may be influenced by personal bias of the respondent.
1.11. Chapter Schemes
• Chapter I
The first chapter deals with introduction, statement of the Problem, significance of the problem, scope of the study, hypothesis, conceptual definitions, period of the study, methodology and limitations of the study.
• Chapter II
The Second chapter deals with the Review of Literature.
• Chapter III
The Third chapter deals with the present condition of the
Banking services in Kanyakumari District.
• Chapter IV
The fourth chapter deals with an analysis of customers’ satisfaction and the limitations of banking services of SBI.
• Chapter V
Fifth chapter highlights the summaries of the major findings of the study. A few suggestions based on these finding were also made in this chapter.
Dissertation Keywords/Search Tags:
Customer satisfaction In Banking Industry
This Dissertation Abstract may be cited as follows:
Scott Cristian College, Nagercoil, India
Submission Details: Dissertation Abstract submitted by Aby Abdul Rabb from Maldives on 25-Jun-2013 05:17.
Abstract has been viewed 9381 times (since 7 Mar 2010).
Aby Abdul Rabb Contact Details: Email: argm49@yahoo.com Phone: 7887825
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