Endowing Service Quality – A Critical Analysis of Public Sector Banks in India

Consumer behaviour has always been an interesting subject for marketers. With the constant increase of markets, banking sector is one of the fastest growing sectors in India. This study examines the satisfaction level of consumers of major nationalized banks in India and services provided by them. It also provides a functional comparison of the two different approaches in terms of SERVQUAL model. The study also analyzes the relationship between deliverance of services and actual customer expectations with the help of Factor Analysis and Mann -Whitney U-Test. The findings of the study indicate that service quality is a significant determinant of customer satisfaction in Indian banking industry irrespective of public sector banks. This study provides important insights to banks in redefining their corporate image to one that is customer-focused and driven by service quality. After analysis the findings of the study also suggest intrinsic and extrinsic cues of consumers from various cross sections differ in evaluating a bank's performance and expectations of the end users.