This document summarizes a study on customer satisfaction with banking services in rural areas of Karimnagar District, India. The study focuses on the State Bank of India and Telangana Grameena Bank. The objectives are to understand the banking scenario in India, highlight the importance of quality banking services in rural areas, analyze problems with rural banking transactions, and identify areas where banks are performing well and need improvement according to service quality dimensions. The need for the study is that customer satisfaction plays a major role in the banking sector's success. Assessing customer satisfaction can help banks identify customer preferences and make improvements to their commonly accepted services.
This document summarizes a study on customer satisfaction with banking services in rural areas of Karimnagar District, India. The study focuses on the State Bank of India and Telangana Grameena Bank. The objectives are to understand the banking scenario in India, highlight the importance of quality banking services in rural areas, analyze problems with rural banking transactions, and identify areas where banks are performing well and need improvement according to service quality dimensions. The need for the study is that customer satisfaction plays a major role in the banking sector's success. Assessing customer satisfaction can help banks identify customer preferences and make improvements to their commonly accepted services.
This document summarizes a study on customer satisfaction with banking services in rural areas of Karimnagar District, India. The study focuses on the State Bank of India and Telangana Grameena Bank. The objectives are to understand the banking scenario in India, highlight the importance of quality banking services in rural areas, analyze problems with rural banking transactions, and identify areas where banks are performing well and need improvement according to service quality dimensions. The need for the study is that customer satisfaction plays a major role in the banking sector's success. Assessing customer satisfaction can help banks identify customer preferences and make improvements to their commonly accepted services.
This document summarizes a study on customer satisfaction with banking services in rural areas of Karimnagar District, India. The study focuses on the State Bank of India and Telangana Grameena Bank. The objectives are to understand the banking scenario in India, highlight the importance of quality banking services in rural areas, analyze problems with rural banking transactions, and identify areas where banks are performing well and need improvement according to service quality dimensions. The need for the study is that customer satisfaction plays a major role in the banking sector's success. Assessing customer satisfaction can help banks identify customer preferences and make improvements to their commonly accepted services.
BANKING SERVICES IN RURAL AREAS OF KARIMNAGAR DISTRICT- A STUDY ON SELECTED BANKS Ramnaresh Molguri, Research Scholar, Department of Commerce and Business Management, OPJS University, Rajastan, India. Dr. Aravind Sarawat, Associate Professor and Research Supervisor, Department of Commerce and Business Management, OPJS University, Rajastan, India.
Abstract
The World Economy is passing through some intricate circumstances as bankruptcy of banking & financial institutions, debt crisis in major economies of the world and euro zone crisis. The scenario has become very uncertain causing recession in major economies like US and Europe. This poses some serious questions about the survival, growth and maintaining the sustainable development of the nation.However, the banks play a stellar role in the development of the nation with its high social content and commitment. The banks act as a development agency and are the source of hope and aspirations of the masses. Banking and finance is like oxygen to any democracy. Banking sector participates in macro economic and monetary policies of any country. It plays a crucial role in supporting companies and projects. The business dynamics of banking sector largely differs from other sectors. They exist in order to screen potential borrowers, monitor customers’ actions and efforts, provide liquidity risk insurance and create safe assets. Therefore, the present study focuses on customer satisfaction towards banking services in rural areas of karimnagar district of selected banks.
Key Words: Customer Satisfaction, Banking Services, Indian Economy, Rural Areas.
incidence of non- performing assets and focus on financial inclusion have contributed to making Indian banking vibrant and strong. Indian banks have begun to revise their growth approach and re-evaluate the prospects on hand to keep the economy rolling. The banking sector is one of the biggest service sectors in India and now-a-days is in a way to attract the biggest market of Asia in investment. The banking sector today is focusing on how to provide efficient services to its customers. The Indian Banking System consists of various financial institutions whose objective is serving the people for their financial and economic needs. After liberalization, privatization and globalization (LPG) policy enactment, Indian banking industry has undergone tremendous qualitative changes. International banks are coming to market, which are competing with local banks irrespective with that they are private sector banks or public sector banks. Various banks are available with new offers, schemes, and services with wide range of products. Customer has range of choices where proper information can be gathered at cheap cost, and can take the advantage of such competitiveness. In the era of globalization customer has more rights to choose right product according their profile, opportunities available for their money.
related to the time period before the Information Technology Act and at that time technology in Indian banks was very low. But both the researchers nicely presented their views. Padhy, K.C. (2007) studied the impact of technology development in the banking system and he also highlights the future of banking sector. The core competencies will provide comparative advantages.
The researcher has chosen this topic to study about customer satisfaction of banking services in rural areas of KARIMNAGAR district by SBI and TELANAGANA GRAMEENA BANK. Here, in this research, the researcher will try to figure out the reason for the perception of the people residing in KARIMNAGAR city for choosing the banking service on the basis of cost, convenience, facility and general factors like modernization of the bank, promptness for attending customer. RESEARCH METHODOLOGY AND RESEARCH DESIGN Data Collection: This study will be an empirical study; it will be based on the primary and secondary data. The primary data relating to the level of preferences and customer satisfaction of the banks about the services offered by SBI and TELANAGANA GRAMEENA BANKbanks would be collected from persons having their accounts in SBI and TELANAGANA GRAMEENA BANK banks in KARIMNAGAR district by interviewing them directly by the researcher with the help of an interview schedule. Secondary data were obtained from different brochures of banks, websites of banks, magazines, encyclopedias, government surveys, web portalsand journals.
Sample Selection For the purpose of the study, totally two leading public sector banks will be selected; they dominate the market in the category of different banking services in rural areas of KARIMNAGAR district. The selected banks are SBI bank and TELANAGANA GRAMEENA BANK. So, it is perceived that an analysis of the primary data collected through the survey conducted among the customers of these banks would help to understand the satisfactions about banking services.
Sampling Methods The personal judgment method will be employed for the selection of banks, where two banks has been chosen for the study. By using simple random method 150 customers may selected from each bank. This sample pack of 300 customers, has duly calculate on the base of sampling proportion. In the research the stratified and area sampling will be used for collection of data from rural areas of KARIMNAGAR district are Huzurabad, Kesavapatnam and Manakonduru.
TELANAGANA GRAMEENA BANK banks only. These customers belong to places, of both genders, with varied income groups, varied age groups and various people living in rural areas in of KARIMNAGARdistrict in Telangana state. Factors Gender Male 55% Female 45% Age Upto 20 3% 20-40 64% 40-60 27% Above 60 6% Occupation Business 15% Govt job 8% Private job 66% others 11% Education HSC 5% UG 19% PG 71% Others 9% Marital status Married 75% Unmarried 25% Income >10000 18% 10000-30000 30% <30000 52% SERVEQUAL Factors ( In Percentage)
Data Analysis and Interpretation
Modern gear utilized: - If we investigate the substantial variables like current supplies utilized we locate that private segment score more here. 34 % of the individuals having an association with the private bank find that the advanced types of gear utilized by the private banks are astounding when contrasted with just 14 % of the individuals having an association with the nationalized bank.
Physical offices: - As far as physical offices are concerned clients of private banks are more fulfilled than those of the nationalized banks. It is clear from the way that 48% of the clients of private banks have given a rating of brilliant and great. Though just 35% of the clients of nationalized banks have given a rating of phenomenal and great.
Employee's appearances: - Customers of the private banks feel that the representatives are entirely satisfactory as it is apparent from the way that 47% of the clients of private banks feel so. In contrast with this solitary 27 % of the clients of nationalized banks feel so.
Material quality: - If we consider the nature of the materials utilized for pass book, Check book and so on we find here likewise the clients of private banks are happy with it. As 46% of the clients have given a reviewing of brilliant and great when contrasted with 33% on account of nationalized banks.
Time calendar for the activities: - Private Banks reasonable well when contrasted with nationalized banks in keeping up time plan for tasks. 45% of the private bank clients feel so when contrasted with 23% of the nationalized bank clients.
Employee's enthusiasm for taking care of client's issues: - Customers of private banks feel that representatives of these banks are keen on tackling their concern. It is clear from the way that 45% of the clients of private banks feel so. In contrast with this solitary 23 % of the clients of nationalized banks feel so.
Consistency of administration gave by the representatives: - If we investigate the consistency
of the administrations being rendered by the banks from both the parts we locate that 44% of the private bank clients feel so when contrasted with 25% of the nationalized bank clients.
Time taken for activity against standard time: - 44% of the clients of private banks have given an evaluating of incredible and great with respect to the time taken for activity as against the standard time. Where as just 23% of the nationalized bank clients have given an evaluating of phenomenal and great here.
Quality of record kept up by the representatives: - Customers of private banks feel that the banks keep up the records in a legitimate way. It is clear from the way that 57% of the clients of private banks feel so. In contrast with this lone 29 % of the clients of nationalized banks feel so.
Information and direction to the representatives: - 44% of the clients of private banks feel that the bank gives legitimate data and direction to its workers yet just 24% of the clients of nationalized banks feel so.Promptness of service rendered by the employees: - Customers of private banks are pretty satisfied with the promptness of services rendered by these banks. It is evident from the fact that 37% of the customers of private banks feel so. In comparison to this only 20 % of the customers of nationalized banks are satisfied in thisarea.
At the point when the private area banks are contrasted and open segment banks, Private Banks score more in all the 22 parameters considered for this examination. Private Banks appears to have fulfilled its clients with great administrations and they have been effective in actualizing substantial variables like present day gear, infrastructural offices, nature of materials utilized and so on. Private part Banks have been fruitful in accomplishing a delightful association with clients anyway open division banks need to improve a great deal around there. The vast majority of the respondents felt that the representatives of the private banks are extremely quick to fulfill their clients. Then again clients of nationalized banks felt that the representatives were least worried about their clients. Private Banks clients feel that their banks take due thought about their comfort and are prepared to adapt up to their inclinations of working hours.Although in this investigation it was endeavored to cover all parts of administration quality, there might be sure perspectives that may have been overlooked or that may get applicable as new patterns in banking develop. In future research, clients may uncover new parts of administration quality in retail banking that are essential to them, and these would need to be joined in the scale in order to additionally investigate the idea of administration quality in the retail banking field.
Bibliography
1. A.Ananth arul Raj. A (2011), A study on banking quality in Nagapattinam district, Tamilnadu Indian Journal of Marketing, Vol.41, P4. 2. 2. Al-Tamimi, H. A. H and Al-Mazrooei, F. M. 2007. Banks' risk management: A comparison study of UAE national and foreign banks. Journal of Risk Finance, 8(4): 394-409. 3. Avasthi G P M (2000-01), “Information Technology in Banking: Challenges for Regulators”, Prajnan, Vol. XXIX, No. 4, pp. 3 – 17. 4. Balakrishnnan R Gayathri (2010), “Customer Awareness about the banking services; A study, Southern Economist, Vol.49, No.15, p.2. 5. Chowdari, P. 2002. Impact of Economic Reforms on Indian Banking. Indian Economic Panorama, A Quarterly Journal of Agriculture, Industry, Trade and Commerce, Special Banking Issue, pp. 9-18. 6. Goyal, K. A. and Joshi, V. 2011a. Mergers in Banking Industry of India: Some Emerging Issues. Asian Journal of Business and Management Sciences, 1(2): 157-165. 7. Kajal Chaudhary and Monika Sharma, ―Performance of Indian Public Sector Banks and Private Sector Banks: A Comparative Study‖, International Journal of Innovation, Management and Technology, Vol. 2, No. 3, June 2011. 8. Laforet S, Xiaoyan Li, (2005) Consumers’ attitudes towards online and mobile banking in China. International Journal of Bank Marketing 23: 362-380.
9. Shiralsheeti As etal (2011) Banking services and customer satisfaction: A study on banks Belgum District, Karnataka, “The IUP journal of Managerial Economics, Vol.ix.No.2, pp.57-58. 10. Shrieves, R. E. “The relationship between risk and capital in commercial banks”. Journal of Banking & Finance, 16(2): 439–457, 1992. 11. Terrence Levesque, Gordon H.G. McDougall, (1996) “Determinants of customer satisfaction in retail banking”, International Journal of Bank marketing, Vol.14 issue: 7, pp.12 - 20.
JETIR1801210 Journal of Emerging Technologies and Innovative Research (JETIR) www.jetir.org 1112
