A comparative study on customer opinion about service quality in public and private sector commercial banks in Erode district

Abstract

Service sector plays a predominant role and significant contributions to the development of a nation s economy as well as its social development. In the modern era, service sector plays a critical role in the development of wealth newlinegeneration of a country where it reflects as an improved figure of GDP. In developed countries with strong economies are leaded by services which reportedly for more than seventy percent of their respective GDP. Whenever newlineIndia shows upward step in economy, the Indian banking industry is hovering to produce valuables as the industry reflects the strength of our economy. The impact of liberalization of Indian government along with the noteworthy growth in economy has revitalized the Indian banking industry. After the liberalization in 1991, the new generation private banks with technology advancement has entered in India and they kindle the requirements for better service quality of public sector banks in order to attract a wide range of customers. With the Liberalization effect, the number of private banks in India grows rapidly. These private banks entered the Indian market with strong and sound technological knowledge, contemporary innovation and monetary tools and techniques. These newlinebanks are usually start-up companies which has technology as a base. After the technical boom such as computers, mobiles took hands of the people in end of the millennium, e-services, mobile banking services are increased widely. So the banks all around the globe are started to hold their existence along with highlevel of competition. Further the quality of service provided by them has been identified as important ingredient to success. They realize that the satisfied customers are the only resource to stay ahead in the competitive era. The growth of banks depends upon their quality of service provided to its customers. newline newline