Essays
INTERNET BANKING & ATM AS A TOOL FOR CRM: A COMPARATIVE STUDY BETWEEN PUBLIC AND PRIVATE SECTOR BANKS
ABSTRACT
Customer Relationship Management (CRM) plays very important role in retaining customers. As Mahatma Gandhi said customers are very important for any business organization. The same view has been endorsed by Philip kotler also. Research study shows that instead of creating new customers every day it’s better to retain the existing customers. In order to retain existing customers banks have introduced various technological products. The researcher has selected only two technological products Internet banking and ATM. The survey has been conducted in erode district by selecting two public sector banks and two private sector banks with regard to Internet banking and ATM.
INTRODUCTION TO INDIAN BANKING SECTOR
Banks are the most significant players in the Indian financial market. They attract most of the savings from the population. The public sector is dominant in the banking industry and banking industry has so far acted as a tool for growth and development of the country. The public sector banks have supported development of agriculture and other sectors. They have ensured the economic development of the country.
The Indian banking can be classified into scheduled banks, non scheduled banks, foreign banks and specialized banking institutions. The Reserve Bank of India acts a centralized body monitoring any distortion and shortcoming in the system. Following the nationalization of banks in 1969, the public sector banks or the nationalized banks have been dominant and has seen tremendous progress. The need to become highly customer focused has forced the slow moving public sector banks to adopt a fast track approach. The releasing of products and services through the net has stimulated players at all levels of the banking and financial institutions market grid to look a further at their existing portfolio offering. Indian banks are now quoting at
ABSTRACT
Customer Relationship Management (CRM) plays very important role in retaining customers. As Mahatma Gandhi said customers are very important for any business organization. The same view has been endorsed by Philip kotler also. Research study shows that instead of creating new customers every day it’s better to retain the existing customers. In order to retain existing customers banks have introduced various technological products. The researcher has selected only two technological products Internet banking and ATM. The survey has been conducted in erode district by selecting two public sector banks and two private sector banks with regard to Internet banking and ATM.
INTRODUCTION TO INDIAN BANKING SECTOR
Banks are the most significant players in the Indian financial market. They attract most of the savings from the population. The public sector is dominant in the banking industry and banking industry has so far acted as a tool for growth and development of the country. The public sector banks have supported development of agriculture and other sectors. They have ensured the economic development of the country.
The Indian banking can be classified into scheduled banks, non scheduled banks, foreign banks and specialized banking institutions. The Reserve Bank of India acts a centralized body monitoring any distortion and shortcoming in the system. Following the nationalization of banks in 1969, the public sector banks or the nationalized banks have been dominant and has seen tremendous progress. The need to become highly customer focused has forced the slow moving public sector banks to adopt a fast track approach. The releasing of products and services through the net has stimulated players at all levels of the banking and financial institutions market grid to look a further at their existing portfolio offering. Indian banks are now quoting at
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