Private Sector Bank Services in Madurai
Department of Commerce, Saraswathi Narayanan College, India
- *Corresponding Author:
- Selvaraj N
Department of Commerce
Saraswathi Narayanan College, India
E-mail: [email protected]
Received January 05, 2016; Accepted February 12, 2016; Published February 16, 2016
Citation: Selvaraj N (2016) Private Sector Bank Services in Madurai. J Glob Econ 4:179. doi:10.4172/2375-4389.1000179
Copyright: © 2016 Selvaraj N . This is an open-access article distributed under the terms of the Creative Commons Attribution License, which permits unrestricted use, distribution, and reproduction in any medium, provided the original author and source are credited.
Customers were simple persons and were happy with whatever services the banks had offered them. Over a period of time, with the competition and technological improvements, customers have become fully aware of their rights. Today banks are realizing that the quality of service constitutes the core of their business and it is a strategy with which they could highlight their superiority with their competitors. Gone are the days when customers had no option but to simply continue with the old strategy of one cap for all. Now-a-days, banks have come to understand that business can come from satisfied customers. A satisfied customer brings in more customers and he is the best advertisement for the bank. Though in the eighties transaction banking was the order of the day, relationship banking has regained its importance once again, with many banks throughout the world project forward this concept. Service quality is a judgmental issue relating to the different between an individual’s expectation of a service and the actual service performed. The private sector banks should raise the quality of the financial services like the reasonability of the rate of interest paid for deposits, justification of the rate of interest charged on loans, fair commission on draft, affordability of the safety locker rent, less commission for funds transfer and reasonability of interest on housing loans.