A Comparative Study of Banking Services and Customer Satisfaction in Public, Private and Foreign Banks

Singh, Surabhi; Arora, Renu

doi:10.1080/09765239.2011.11884936

Cited by 19 publications

(15 citation statements)

References 5 publications

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“…The present Indian banking has evolved as one of the fastest growing marketplaces in the global banking industry due to liberalization and deregulation in the banking system of India; therefore, it is very close to turn into one of the third largest global banking industries following China and the USA by 2025 (Tripathi & Poddar, 2011). The entry of private sector banks and foreign banks has changed the rules of serving the customers in the bureaucratic nature of Indian banking system, and now customers have more choices to select their banks in order to satisfy their banking needs and demands in the present era of Indian banking system (Singh & Arora, 2011). Moreover, the cost of acquiring new customers is more than the costs of retaining the existing ones that enabled banking sectors to achieve higher profitability in competitive nature of Indian banking (Gupta & Dev, 2012;Kaura, 2013a;Lenka et al, 2009).…”

Section: Introductionmentioning

confidence: 99%

A Model of Customer Loyalty: An Empirical Study of Indian Retail Banking Customer

Kant

Jaiswal

Mishra

2019

Global Business Review

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The present article proposes and tests an integrative model to examine the relationships among service quality (SQ), perceived value (PV), customer satisfaction (CS), corporate image (IMG) and customer loyalty (CL) in Indian retail banking context. The model is tested on the basis of data collected from 545 customers of Indian public sector banks (PSBs) using structural equation modeling (SEM) through path analysis. The finding exhibits that the present research model strongly predicts direct and/or indirect relationship of all constructs with CL phenomenon. However, the construct of PV was found to be insignificantly related to IMG in this integrative model. Moreover, the results also reveal that SQ exerts a strong influence on CS and CL; therefore, SQ is found as the most dominant construct in the model. The results of the model validate that SQ, PV, CS and IMG are the key antecedents of CL. Thus, integrative model of CL emerges as an ‘outcome’ in Indian context with special reference to selected PSBs.

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Section: Introductionmentioning

confidence: 99%

A Model of Customer Loyalty: An Empirical Study of Indian Retail Banking Customer

Kant

Jaiswal

Mishra

2019

Global Business Review

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“…After the post-liberalization and globalization period in the Indian banking system, the entry of private and foreign bank players made the Indian banking sector more competitive. Consequently, customers have more choices to select their banks in the modern era of the Indian banking system (Singh & Arora, 2011). Hence, it is necessary for public sector banks (PSBs) to serve their target customers’ needs and demands by offering superior service quality (SQ) and value than their private counterparts.…”

Section: Introductionmentioning

confidence: 99%

The Investigation of Service Quality Dimensions, Customer Satisfaction and Corporate Image in Indian Public Sector Banks: An Application of Structural Equation Model(SEM)

Kant

Jaiswal

Mishra

2017

Vision

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The purpose of this article is to identify the dimensions of service quality (SQ) in the banking sector and examine the effect of SQ dimensions on customer satisfaction (CS), and therefore the effect of CS on corporate image (CI) in the selected public sector banks (PSBs) in India. The sample of the study consists of 640 retail customers of PSBs in the National Capital Region (NCR) of India and the data were collected through a structured questionnaire using a 7-point Likert scale based on purposive sampling. Therefore, the authors empirically validate a measurement model using structural equation modelling (SEM) through path analysis. The findings revealed that ‘tangibility’ and ‘assurance’ dimensions were most important predictors of CS among all five dimensions of SQ. In addition, the results also validate that CS is an important antecedent for influencing CI, and therefore CS acts as a linkage between SQ dimensions and CI in the Indian context. Finally, the research article presents the conclusion, implications and limitations and the possible directions for further research.

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“…Customers are now demanding more individualistic and customised services and are no longer willing to accept delay in transactions. A 'customer centric' view has replaced the earlier 'product centric view' (Singh & Arora, 2011). Hence, it is necessary to identify and prioritise the customers' expectations for service quality and incorporate these expectations into a service process for improving quality.…”

Section: Introductionmentioning

confidence: 99%

“…The efficiency of banking sector depends upon how best it can deliver services to its target customers and how far expectations of customers are Research and Innovation, 8, 4 (2012): 399-406 met. In order to survive in this competitive environment and provide continual customer satisfaction, the providers of banking services are now required to persistently improve the quality of services (Singh & Arora, 2011). In today's increasingly innovative and aggressive financial services environment, service quality has become the ultimate factor which differentiates banks and determines whether or not they can survive (Rahaman, Abdullah & Rahman, 2011).…”

Section: Introductionmentioning

confidence: 99%

Customer Satisfaction in Banking Industry: A Gap Analysis Approach

Kaur

Sharma

Kapoor

2012

Asia-Pacific Journal of Management Research and Innovation

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The financial reforms initiated in the year 1991 posed a lot of challenges before the Indian banking sector; one of the major challenges faced by retail banking deals with the customer satisfaction and loyalty. Today’s banking customers have become more aware and rational in their approach than ever. Customer satisfaction and formulation of marketing strategies to attract more and more customers towards the banks are now becoming a key issue in order to survive in the competitive banking industry for every bank. The current study is an attempt to find out the gap between the expected and the perceived satisfaction levels of bank customers. For the purpose of the study, data were collected through primary sources by framing a questionnaire on the basis of SERVQUAL scale and review of literature. To analyse the collected data, Gap Analysis and t-test have been employed. The results of the study bring out the major differences in customers’ expectations and perceptions from banking services, thus showing dissatisfaction among bank customers.

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A Comparative Study of Banking Services and Customer Satisfaction in Public, Private and Foreign Banks

Cited by 19 publications

References 5 publications

A Model of Customer Loyalty: An Empirical Study of Indian Retail Banking Customer

A Model of Customer Loyalty: An Empirical Study of Indian Retail Banking Customer

The Investigation of Service Quality Dimensions, Customer Satisfaction and Corporate Image in Indian Public Sector Banks: An Application of Structural Equation Model(SEM)

Customer Satisfaction in Banking Industry: A Gap Analysis Approach

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