An empirical study of bank customers awareness and satisfaction towards services provided by payment banks in malwa belt of punjab

Abstract

Today, Indian banks are working under intense competition from new generation banks and foreign banks. It is due to advancement of information technology which makes the dramatic changes in the banking industry. By this, customers are becoming very demanding and it is the extensive use of technology that enables banks to satisfy adequately the requirement of customers by adding a degree of variation in the services provided by the banks with the emergence of Payments Banks services. So, it becomes necessary to study the nature, features and extent of Payment Banks services and their impact on the operational performance and service quality. newline Despite the increasing importance of Payment Banks services, the research pertaining to Payment Banks in Indian context has been limited. Most of the research work was conducted on national and an international basis but awareness and satisfaction of Punjab customers has not been studied much. In this reference the present study attempted to analyze the awareness and satisfaction level of customers towards Payments Banks in Punjab. It is a modest attempt to see the changes taking place after Payments Banks and to know about customers awareness and satisfaction regarding Payments Banks. Taking into consideration time and cost constraint, the sample size for the present study is 600 customers. Four districts are selected from the three regions of Punjab Malwa, (Ludhiana, Patiala, Sangrur and Bathinda respectively) on the basis of population census as per 2011 (ppplanning.com). 150bank customers are interviewed who are using payment bank in each selected district.Data frame for the study is 2017-18 to 2021-22. The study is based on pooled data. It is related to primary and secondary data which is collected with the help of well drafted and pre-tested questionnaire. Multistage random sampling technique is used to select customers of the payments banks and this made the selected sample more representative of the universe. The study is based on tabular technique of analysis.