Customer satisfaction led growth in banking sector

The dictum, ‘a bank exists because of its customers ’has become more pronounced and relevant in the present context. Banks have to devise suitable systems and mechanisms to satisfy the needs and expectations of various segments of customers for their survival. When competition is tough, the best way for survival is to be in constant touch with the customers and letting them know what bank can do for them. Banks have to provide quality services so that customer do not defect and migrate to other institutions. Banks have not only to measure and manage customer satisfaction on regular basis, but have also to find out the reasons for theii defection. A customer deals with people who work in the bank premises. He does business only with people. Every interaction with customer is an opportunity to make positive impact on him. The person dealing with the customer has therefore to create positive impressions that are memorable and help in building confidence. They have therefore to bear in mind what Confucius said "What you do not want done to yourself, do not do to others". In this changed banking scenario, the importance and significance of the customers has increased manifold. The dictum, ‘a bank exists because of its • customers ’has become more pronounced and relevant in the present context. Banks have to devise suitable systems and mechanisms to satisfy the needs and expectations of various segments of customers for their survival.