Customer awareness: A study with special reference to new generation banks in Erode district

The study focuses on customer awareness with new generation banks in Erode district. The Awareness of respondents on various aspects viz., Types of Deposits, Interest on Deposits, Period of Deposits, Types of Loans, Interest on Loans, ATM/Debit card facilities, Fund Transfer facilities, Credit card facilities, Insurance, Utility Services like Electricity Bill, Telephone Bill, etc., RTGS/NEFT, Safe deposit locker facilities, Minimum limit for withdraw per day and Nomination facilities is analysed. The study was conducted among 610 respondents of various new generation private sector banks operating in Erode district and statistical tools like Percentage analysis and Chi-square test were used for the analysis. It is found that the customers are by and large awareness with various factors barring a few. The master table in texdata.xls format was then imported into SPSS for further analysis. The data were analyzed by using the following Percentage analysis and Chi-square test and statistical tools. The findings and suggestions throw much light on the present scenario of the functioning of New Generation Banks in Erode District. They suggested that, banks should provide “demo” on their website for new users to know about online banking services and facilities of experts to increase awareness in the minds of customers to use e banking safely. Thus, in this process the bank that excels with its innovative strategy is to be considered as a new generation bank as the those strategies used to exhibit customer service and welfare is just a marketing strategy which brings in customers but on a long run its only the internal affairs and money management strategy that helps a business retain its position in the market.