The modern-day banking has moved from pure banking to need based banking. This need based banking is all about customer satisfaction as customers are the focal point in the success of an organization. Customer retention has assumed significance in revenue analysis of various organizations. Customer Relationship Management has become inevitable for the growth and profitability of banks in the present age, which is the age of competition and innovation. Indian banks are realizing the concept of need based banking and the importance of CRM which links people, process and technology to optimize an organization’s revenue and profits through optimum customer satisfaction. CRM is focus on creating, satisfy and retaining customer through uncompromising services. The main purpose behind this study isto analyse whether banks are really implementing the whole concept and philosophy of CRM as a means of securing competitive advantage through customer loyalty. Building a lifelong relationship with customers is the key to success for any business.
Customer Relationship Management, Customer Satisfaction, Banking
