A STUDY ON CONSUMER PERCEPTION TOWARDS BANKING SERVICES

Nidhi Sharma; Akansh Garg

Abstract

The banking sector, a pivotal service-oriented industry, plays a crucial role in economic development by providing essential services to its customers. This study investigates consumer perceptions towards banking services delivered by public banks in India, focusing on service quality and customer satisfaction. A survey of 87 respondents from Delhi/Delhi-NCR, predominantly aged 18-24, reveals key insights into banking service attributes and consumer expectations. The research highlights the importance of reputation, service delivery timeliness, staff behavior, and complaint resolution in shaping customer satisfaction. Findings indicate a general positive relationship between customers and banks, with recommendations for enhancing digital services, maintaining reputations, and improving complaint handling to boost satisfaction and loyalty. The study's findings reflect a generally good relationship between customers and banks, implying that the majority of consumers are content with the services offered. However, the report also identifies places for development, particularly in the field of digital services, which have grown in importance in today's technologically driven society. Public banks should improve their digital banking experience, maintain a strong and favourable reputation, and handle customer complaints more effectively in order to promote customer satisfaction and loyalty. By resolving these issues, banks can not only meet, but surpass, client expectations, resulting in a more robust and loyal customer base, and ultimately contributing to overall economic development.