Study Of Services Provided By Public And Private Sector Banks Finance Essay

hire Of Services Provided By Public And Private Sector deposes Finance actINTRODUCTIONBanking in India originated in the last decades of the 18th century. The oldest assert in India is the State Bank of India, a government-owned largest mercenary bank in the country. In 1991 banking arna made a remarkable progression. New private firmament banks have brought the necessary competition into the industry and acquire the changes towards higher exercise of technology, improved customer service and innovative products. India has 88 scheduled commercial banks (SCBs) 27 public sector banks (stake holding by the Government of India ), 29 private banks ( no government stake they may be in public listed and traded on stock exchanges) and 31 foreign banks. They have a unite net income of over 53,000 branches and 17,000 ATMs. According to a report by ICRA Limited, a rating agency, the public sector banks hold over 75 part of total assets of the banking industry, with the private and foreign banks holding 18.2% and 6.5% respectively.Customers are now get more conscious of their rights and are demanding more than ever before. The recent trends build that most banks are shifting from a product-centric manikin to a customer-centric model as customer blessedness has become one of the major determinants of occupation growth. Keeping these in mind, an attempt has been made in this study to try the factors that are essential in influencing the investment decision of the customers of the public as well as private banks. For this purpose, Factor Analysis, which is the most appropriate multivariate technique, has been used to identify the groups of determinants. This study also suggests whatsoever measures to formulate marketing strategies to lure customers towards banks.PROJECT BACKGROUNDSTATE BANK OF INDIAState Bank of India (SBI) is Indias largest commercial bank. SBI has a vast domestic network of over 9000 branches (14% of all bank branches) and commands one -fifth of deposits and loans of all scheduled commercial banks in India.The State Bank Group includes a network of eight banking subsidiaries and some(prenominal) non-banking subsidiaries offering merchant banking services, fund management, factoring services, primordial dealership in government securities, credit cards and insurance.ICICIICICI Bank is Indias second-largest bank with total assets of Rs. 3,849.70 zillion (US$82 meg) at September 30, two hundred8 and profit after tax Rs. 17.42 billion for the halfyear ended September 30, 2008. The Bank has a network of almost 1,400 branches and 4,530 ATMs in India and presence in 18 countries. ICICI Bank offers a wide range of banking products and financial services to corporate and retail customers by means of a variety of delivery channels and through and through its specialized subsidiaries and affiliates in the areas of investment banking, life and non-life insurance, venture capital and asset management. The Bank shortly h as subsidiaries in the United Kingdom, Russia and Canada, branches in United States, Singapore, Bahrain, Hong Kong, Sri Lanka, Qatar and Dubai International Finance kernel and representative offices in United Arab Emirates, China, South Africa, Bangladesh, Thailand, Malaysia and Indonesia. Our UK subsidiary has established branches in Belgium and Germ all(prenominal).ICICI Banks equity shares are listed in India on Bombay Stock Exchange (BSE) and the subject Stock Exchange (NSE) of India Limited and its American Depositary Receipts (ADRs) are listed on the New York Stock Exchange (NYSE).PROJECT AIMS AND OBJECTIVESTo study whether the customers are quenched with the services stick outd by ICICI bank and SBI bankTo be intimately the customer preferences among ICICI and SBI bankTo compare over all commitment, pattern of affective, normative and continual commitment in public and private sectorTo know about the variant promotional tools of Private and Public sectors banks in In diaTo make a comparative compendium of customers perception for promotional strategies of private and public sector banks in IndiaTo find out the key promotional tools for banking services on the basis of customers resultsThe above objectives lead to the following HypothesisH1 There is no significant congenatorship between the educational qualification of therespondents and the reason to deal the service.H2 There is no significant relationship between the occupation of the respondents and the image of service they prefer the most. interrogation PROGRAMMETHE MARKETING RESEARCH dishRESEARCH PROBLEMAssessment of consumer perception and behavior in relation with SBI and ICICI bank in Panipat, Haryana.RESEARCH DESIGN AND PLANThe study is both descriptive and exploratory in nature. By descriptive research the fulfilment of difference in the needs perception attitudes and characteristics of customers would be gathered. Diagnostic analysis allow for be used when customers pull up st akes be asked questions such as why do you feel that way? Exploratory studies leave alone provide cultivation to use in analyzing a situation. Descriptive research will be used to uncover conclusive evidences to determine a point course of action.The research design and plan was based on various factors like method of information collectionRESEARCH METHODThe end is basically research oriented and it depends mainly on primary sources of data. It would be acquired through close-ended structured questionnaire in various ICICI and SBI banks covered under the project. The knowledge validity depends upon the ability of the peoples understanding of the questions that is cosmos asked by the research worker.Survey Method This method would be used to get more detailed information of responders through Questionnaire. Further this is the only method to get the desired information. entropy SOURCESPrimary Data The research would be done with the help of primary data as it requires firsth and information on individual inter follows.RESEARCH INSTRUMENTResearch instrument would be a questionnaire as the data is primary. The questionnaire would be designed on the following basisTo know about the customer needs and preferencesTo find ways to provide them more satisfactionTo understand the factors that influence their decision while subscribe among the different bankssample distributionThe sample consists of all those persons who either have a bank discover in ICICI and SBI or are planning to open it in side by side(p) few months. For this research we use non-probability sampling. Zikmund (1997) stated that in non-probability sampling, the probability of any particular member of the population being chosen is unknown. The element in the population does not have any probability attached to their being chosen as sample subjects.Snow ball sampling will be applied in this research. Snow ball sampling refers to the military operation that involves the selection of additiona l respondents based on referrals of initial respondents.Elements Students, businessmen, Traders, Farmers, Workers, Salesman etc. result PanipatSurvey Time 6 WeeksSample size 200 customers are to be questioned. The target population in this research refers to the bank customers who are having an account in SBI bank and ICICI bank due to the thingmabob in collecting the data. The respondents can be any gender, any income level, any occupation and any education level.Approach 260 people would be approached ingest PLANData would be collected from both public as well as private sources from all department.Accompanying each questionnaire is a earn explaining the general purpose of the study. Participants in the study are entirely voluntary.The researcher is going to collect the data from the ATMS and also by visiting the bank. It would be directly obtained from the customers.DATA ANALYSISAppropriate statistical analysis will be adopted. The data will be tabulated and analyzed.DELIVERABL ESTo get the clear view as to which bank is more efficient in focusing on serving their customer by building long term relationships through performance excellence and delivering customer satisfaction. To know about the reliability of the response and provide major requirements by getting feedback on questionnaire.What are the reasons to choose a public bank like SBI? To examine in discernment about their loan, ATM and other facilities that attract customersTo know why some people choose SBI while other prefer ICICIBoth the banks are competing equally with each other. But SBI bank is a bit below the line in customer complaints handling when compared to ICICI bank. The researcher would aim to know where they should focus to attain more and more customers while retaining the older ones at the same time.REVIEW OF LITERATUREMaking Government the Best plant to Work Building Commitment (Belcourt, Professor of Human Resource steering at York University, 2000 and Simon Taggar.ResourcesL ibrary, internet, journels, magazines.