A COMPARATIVE STUDY OF CUSTOMERS’ PERCEPTION ON BANKING SERVICES OF SELECTED DISTRICT CO-OPERATIVE BANKS OF NORTH GUJARAT

Abstract

The banking industry is facing rapid changes in the market, such as: new technologies, economic uncertainties, fierce competition, more demanding customers and the changing climate which lead to an unprecedented set of challenges. The banking sector offers several facilities and opportunities to their customers. The products of the banking industry broadly include deposit products, credit products and customized banking services. Most banks offer the same kind of products with minor variations. The basic differentiation is attained through quality of service and the delivery channels that are adopted. The Banking Sector in India is classified into four categories viz; Commercial Banks, Small Finance Banks, Payments Banks and Co-operative Banks. The Co-operative credit structure for meeting the short -term, medium term and long-term credit needs of cultivators in Gujarat consists of (i) State Co-operative bank at the apex level (ii) Central Co-operative Banks at the district level & (iii) Primary Agriculture Credit. The State Co-operative Agricultural and Rural Development Bank fulfil long-term credit needs through its branches. The customer is the king of market.  The existence of the business unit depends on the market-share achieved by it. The customers at the present juncture are well exposed to unstoppable innovations in communication technologies. He / She is aware of the kind of service level available around the world and thus expects the best from his / her bank. Customer service is not only a critical function but plays a vital role for the business. It is next most important business strategy. The improved customer service will definitely increase profitability.