The Indian banking industry is on a major technological upgradation drive after having successfully introduced international standards in their operating norms. It is commonly perceived that technology is important to enhance the quality of customer service and to make it customer friendly. The share of services in India’s gross domestic product (GDP) has gone up to 45.4 per cent. One of the several reasons attributed to this phenomenal success, is the economic reform carried out in the financial sector, which proved to be highly successful. Now, the country’s financial markets are characterized by four significant trends - financial liberalization, disintermediation, internationalization and technological advancement. The advent of the electronic funds ‘transfer system, probably in the late 1970s, made possible the induction of automated teller machines (ATMs), direct deposit of payroll, pay-by-phone systems, point-of-sale systems, credit and debit cards, Internet banking & pre-authorized funds transfer and automated clearing house. Thus, the emerging concept of bank marketing aimed at having a full view of customer’s needs, fulfilling them in the best possible manner, identification of potential customers and conducting the activities at the branches on the basis of market segmentation. Present study is trying to find out the awareness level of services and facilities provided by the Indian banks and satisfaction level of customers.
Global Journal of Business Management Vol. 3 No. 2, December 2009