Service quality and customer satisfaction of Indian Overseas Bank with special reference to tiruchirappalli town

The Indian Banking Industry has undergone radical changes due to liberalization and globalization measures undertaken since 1991. Today, Indian Banking Industry is one of the largest industry in the world. Banking sector in India like many other sectors has been experiencing a rapidly changing market, new and modern technologies, economic uncertainties, changing and more demanding customer services and above all fierce competition, that has presented an unpredictable set of challenges for them. In order to be successful in the market it is not only sufficient for commercial banks to attract new customers but also concentrate on retaining existing customers implementing effective policies of customer satisfaction. Service quality and Customer satisfaction can be considered as the essence of success in today's highly competitive world of business. The present study assesses the status of service quality and customers’ satisfaction with respect to select dimensions of service quality in Indian Overseas Bank in Tiruchirappalli Town. A major contribution of this study is to identify the areas of customer satisfaction/dissatisfaction of Indian Overseas Bank in Tiruchirappalli Town. Although the satisfaction levels are high on various service quality dimensions, there still remains a lot to be done by the management of the banks to maximise their customer satisfaction.