Understanding Of Customer Loyalty In Indian Banking Sector Through Servqual
Academic Leadership - Online Journal,
Vol. 21 No. 6 (2020): Vol-21-Issue-6-June-2020
With a GDP growth of 6.8 per cent in 2018-19 (source: https://www.business-standard.com/article/economy-policy/gdp-first-advance-estimates-predict-economic-growth-at-5-in-2019-2020-120010700990_1.html ). Services sector with an annual growth rate of 10% contributes 61% to the GDP. With 18 public sector banks, 22 private sector banks, 46 foreign banks, 53 regional rural banks, 1,542 urban cooperative banks and 94,384 rural cooperative banks TILL SEPTEMBER 2019 (https://www.ibef.org/industry/banking-india.aspx) , in addition to cooperative credit institutions Indian banking sector is all set to change the dynamics of Indian economy. With a total contribution of 54.15 % to the GDP, services sector has tremendous growth potential for the Indian economy. Banking Sector contributes 8% to GDP and thus holds a tremendous possibility for Indian customers with the infusion technology in the post liberalized era. Banking sector in India has tremendous promise of growth in times to come. Banks whether foreign, PSU’s, private all are approaching customers with the state of the art services backed by tremendous technology. Banks in India leaving no stone unturned to create customer delight on sustainable basis. In this research paper there is a sincere effort to find out the impact of SERVQUAL dimensions on customer loyalty for a particular bank. The researcher used structured questionnaires for data collection. Various statistical tools like mean, standard deviation and regression analysis have been injected for the data analysis and representation of the findings.