& Findings
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• After data analysis and hypothesis testing it is evaluated that null hypothesis holdsAfter data analysis and hypothesis testing it is evaluated that null hypothesis holds good. and there is significant relation between
good. and there is significant relation between customer preference and bank’scustomer preference and bank’s financial products As, the calculated value of χ2
financial products As, the calculated value of χ2is less than the tabulated value ,is less than the tabulated value , null hypothesis holds good .
null hypothesis holds good .
•
• After data analysis and hypothesis testing it is evaluated that null hypothesis doesAfter data analysis and hypothesis testing it is evaluated that null hypothesis does not holds good the null hypothesi
not holds good the null hypothesis is rejected s is rejected and there is no signifiand there is no significant relationcant relation between bank’s financial products and business development. As, the calculated between bank’s financial products and business development. As, the calculated
value of χ2
value of χ2 is more than the tabulatis more than the tabulated value , null hypothesis does ed value , null hypothesis does not not holds good.holds good.
..
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• As per the survey conducted, it is to be noticed a good sector of the people prefer As per the survey conducted, it is to be noticed a good sector of the people prefer to be customers of nationalized banks.
to be customers of nationalized banks. This result can be very well explained This result can be very well explained byby the fact that nationalized banks are acquainted with the Government and that ups the fact that nationalized banks are acquainted with the Government and that ups and downs in business will not affect the e
and downs in business will not affect the existence of the bank. Also the xistence of the bank. Also the RBI tooRBI too has good control over the
has good control over the working of these banks and working of these banks and there for the customers feelthere for the customers feel a sense of security in investing in these banks.
a sense of security in investing in these banks. However it is also seen that a However it is also seen that a goodgood percentage of people also opt for private banks such as ICICI, bearing in mind the percentage of people also opt for private banks such as ICICI, bearing in mind the
amount of experience they posses in the field of banking. These private banks, amount of experience they posses in the field of banking. These private banks, even though living with nationalized banks, which have the lion’s share, appear to even though living with nationalized banks, which have the lion’s share, appear to be huge market players and market turners.
be huge market players and market turners.
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• As per the data analysis it was seen that KMBL is prioritizing the premium classAs per the data analysis it was seen that KMBL is prioritizing the premium class and middle class and not to the needs of lower class people the reason behind and middle class and not to the needs of lower class people the reason behind doing so is, that by targeting the premium class people they can have a good float doing so is, that by targeting the premium class people they can have a good float because by maintaining float they can lend in the call money market or they can because by maintaining float they can lend in the call money market or they can utlize the money by keeping in the currency chest. As KMBL is not targeting the utlize the money by keeping in the currency chest. As KMBL is not targeting the needs of lower end customers it is because maintaining account for low range needs of lower end customers it is because maintaining account for low range customers will lead to increase in the operating cost of the bank and they don’t customers will lead to increase in the operating cost of the bank and they don’t have that type of income to go for this option. As banks operation has recently have that type of income to go for this option. As banks operation has recently sta ATMS and also they have more branches then Kotak Bank.
ATMS and also they have more branches then Kotak Bank.
As these two banks has there o
As these two banks has there operations from a long time if compared toperations from a long time if compared to Kotak Bank that’s why customers or people have
Kotak Bank that’s why customers or people have a good awareness of thesea good awareness of these two banks
two banks
•
• ThThe e rarangnge e of of prprododucucts ts of of HdHdfc fc ,I,ICICICICI, , is is mumuch ch momore re ththan an ththat at of of KoKotatak k Mankindra that’s why people wants to open there account or have relation with Mankindra that’s why people wants to open there account or have relation with these two banks as they
these two banks as they can can find all there financial needs find all there financial needs under a single roof.under a single roof.
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• According to the survey conducted on which banks are people associated with itAccording to the survey conducted on which banks are people associated with it was seen that nationalized banks achieved the more or less same amount of was seen that nationalized banks achieved the more or less same amount of preference ratio as seen above. In the sample size of 150, a huge portion of people preference ratio as seen above. In the sample size of 150, a huge portion of people
are associated with nationalized banks. This particular survey also shows the same are associated with nationalized banks. This particular survey also shows the same results for the rest of the banks, in the order “private banks, international banks results for the rest of the banks, in the order “private banks, international banks and co-operative banks” respectively.
and co-operative banks” respectively.
•
• On On a a gloglobal bal scascale le tectechnolhnologiogical cal inninnovaovatiotions ns havhave e beebeen n the the maimain n reareasonsons s for for International banks to become market drivers and leaders, but the same cannot be International banks to become market drivers and leaders, but the same cannot be said about India. Here improvement of technology has not yet played over the said about India. Here improvement of technology has not yet played over the minds of the people. It can be said that only the higher society of the Indian minds of the people. It can be said that only the higher society of the Indian po
populpulatiation on wouwould ld conconsidsider er tectechnohnologlogicaical l inninnovatovationions s to to be be ververy y impimportortant ant inin terms of deciding the importance of the bank. The other parts of India would terms of deciding the importance of the bank. The other parts of India would hardly consider it to be reason in selecting
hardly consider it to be reason in selecting the bank.the bank.
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• Keeping in mind the above analysis most of the people surveyed in this sampleKeeping in mind the above analysis most of the people surveyed in this sample were not even aware of the different services provided by the bank. Mobile were not even aware of the different services provided by the bank. Mobile banking and net banking were Greek and Latin to them. Such people would keep banking and net banking were Greek and Latin to them. Such people would keep technology in mind to select the bank. But on the other hand the people who technology in mind to select the bank. But on the other hand the people who understand the importance of technology recognized the various services that are understand the importance of technology recognized the various services that are provided and also mentioned that technology today in India has made banking provided and also mentioned that technology today in India has made banking easier. However a huge sector of the people surveyed knew the importance of an easier. However a huge sector of the people surveyed knew the importance of an ATM or Credit cards, but the usage of these facilities was not found to be up to ATM or Credit cards, but the usage of these facilities was not found to be up to the mark.
the mark.
•
• As As seseen en at at ththe e ststarart t of of ththis is parpartiticuculalar r ananalalysysis is ththe e tytype pe of of babank nk peopeoplple e araree associated with stays the same even when given the choice of considering a associated with stays the same even when given the choice of considering a change of bank. People who are associated with their particular bank do not wish change of bank. People who are associated with their particular bank do not wish to change as the reasons for their selection are satisfied by the bank. The few to change as the reasons for their selection are satisfied by the bank. The few people who were not satisfied with their particular bank, their reasons for non people who were not satisfied with their particular bank, their reasons for non satisfaction range from bad customer service to lack of technology to limited satisfaction range from bad customer service to lack of technology to limited schemes provided to them
schemes provided to them
SUGGESTIONS SUGGESTIONS
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• First of all the changes in the attitude of First of all the changes in the attitude of the staff should be arising in thethe staff should be arising in the banks.
banks.
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• Customer care service should be implemented in Customer care service should be implemented in the voluntary method.the voluntary method.
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• New technologies must be used in New technologies must be used in every service and functions made by theevery service and functions made by the bank.
bank.
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• Computerization system should be used in every function on Computerization system should be used in every function on the bank.the bank.
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• There should be transparency in all services offered There should be transparency in all services offered by the banks.by the banks.
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• The operations of all the banks should be in 24 hrs.The operations of all the banks should be in 24 hrs.
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• Online transactions and information technologies must be introduced Online transactions and information technologies must be introduced andand made in use in every bank.
made in use in every bank.
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• They should try to avoid the credits frauds.They should try to avoid the credits frauds.
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• E-commerce and E-banking must be introduced in every bank E-commerce and E-banking must be introduced in every bank
BIBLIOGRAPHY
BIBLIOGRAPHY
Websites Websites
www.google.com www.google.com
www.rbi.org www.rbi.org
www.banknetindia.com www.banknetindia.com
www.thehindubusinessline.com www.thehindubusinessline.com