Professional Documents
Culture Documents
2012 2014
Submitted By:
DEPARTMENT OF MANAGEMNT
MAHARAJA AGRASEN INSTITUTE OF TECHNOLOGY
(Affiliated to G.G.S.I.P. University)
Sector-22, Rohini, Delhi-110086
An ISO 9001:2008 Certified Institute
AICTE NBA Accredited Institute
1
DECLARATION
This is to certify that I, VINCENT DANIEL CLEMENT had completed the project titled
Comparitive study of Customer Satisfaction in Xperience and Non-experience Branches of
Union Bank of India under the guidance of Dr. Sangeeta Malik in the partial fulfillment of the
requirement for the award of degree of MBA from Maharaja Agrasen Institute of Technology
(Affiliated to G.G.S.I.P University), New Delhi. This is an original piece of work and I had
neither copied nor submitted it earlier elsewhere.
Dr SANGEETA MALIK
(Professor)
Acknowledgment
I hereby take this opportunity to thank Maharaja Agrasen Institute of Technology for
providing me an opportunity to do a Major Project on Comparative Study of Customer
Satisfaction in Xperience and non-experience branches of Union Bank of India.
I express my sincere gratitude to my mentor and guide, Dr. Sangeeta Malik who always
provided me with necessary inputs, guidance and direction to carry out this project. She
provided me access to different domains of knowledge from where I collected inputs for this
project.
Last but not the least, my million thanks to all the people including customers of the banks
whom I have conversed with and taken inputs from to move ahead and complete this
project.
EXECUTIVE SUMMARY
The working of the customer's mind is a mystery which is difficult to solve and
understanding the nuances of what customer satisfaction is, a challenging task. This exercise in
the context of the banking industry will give us an insight into the parameters of customer
satisfaction and their measurement. Banking is a customer oriented services industry, therefore,
the customer is the focus and customer service is the differentiating factors.
The purpose of this paper is to compare the xperience and non-experienced branches of Union
Bank of India in terms of customer satisfaction and to find out the various reasons of difference
in customer satisfaction in both types of branches. The data was collected by getting the
questionnaire filled by the respondents who were using the banking services. There are a total of
310 respondents, which are divided in the ratio of 50:50 in Xperience and Non-experience
branches of Union Bank of India. It is an analytical research project in which both primary and
secondary data are used to reach to the conclusions.
After the above collected data was analyzed on the basis of percentage, and then presented in
tabular form, it was found out that the alternate hypothesis proved out to be true. Thus, it can be
concluded that there is higher level of customer satisfaction in Xperience branches of Union
bank of India as compared to the Non-experience branches. It is thus recommended that the non
experience branches should also be converted to give customers a rich and unique experience in
terms of their satisfaction.
Table of Content
S.NO.
PARTICULARS
PAGE NO.
1.
Chapter I Introduction
2.
23
3.
27
4.
35
5.
37
6.
Bibliography
40
Questionnaires
41
CHAPTER I
INTRODUCTION
Since Calcutta was the most active trading port in India, mainly due to the trade of the
British Empire, it became a banking center. Three Presidency banks were set up under charters
from the British East India Company- Bank of Calcutta, Bank of Bombay and the Bank of
Madras. These worked as quasi central banks in India for many years. The Bank of Calcutta
established in 1806 immediately became Bank of Bengal. In 1921 these 3 banks merged with
each other and Imperial Bank of India got birth. It is today's State Bank of India. The name was
changed after India's Independence in 1955. So, State bank of India is the oldest Bank of India.
In 1839, there was a fruitless effort by Indian merchants to establish a Bank called Union Bank.
It failed within a decade. Next came Allahabad Bank which was established in 1865 and working
even today. The oldest Public Sector Bank in India having branches all over India and serving the
customers for the last 145 years is Allahabad Bank. Allahabad bank is also known as one of
India's Oldest Joint Stock Bank. The Oldest Joint Stock bank of India was Bank of Upper India
established in 1863 and failed in 1913. The first Bank of India with Limited Liability to be
managed by Indian Board was Oudh Commercial Bank. It was established in 1881 at Faizabad.
This bank failed in 1958. The first bank purely managed by Indian was Punjab National Bank,
established in Lahore in 1895. The Punjab national Bank has not only survived till date but also
is one of the largest banks in India. However, the first Indian commercial bank which was wholly
owned and managed by Indians was Central Bank of India which was established in 1911.
The first bank in India, though conservative, was established in 1786. From 1786 till today,
the journey of Indian Banking System can be segregated into three distinct phases:
Nationalization of banks and the banking sector reforms, from 1969 to 1991
New phase of Indian banking system, with the reforms after 1991
Phase1
The first bank in India, the General Bank of India, was set up in 1786. Bank of Hindustan and
Bengal Bank followed. The East India Company established Bank of Bengal (1809), Bank of
Bombay (1840), and Bank of Madras (1843) as independent units and called them Presidency
banks. These three banks were amalgamated in 1920 and the Imperial Bank of India, a bank of
private shareholders, mostly Europeans, was established. Allahabad Bank was established,
exclusively by Indians, in 1865. Punjab National Bank was set up in 1894 with headquarters in
Lahore. Between 1906 and 1913, Bank of India, Central Bank of India, Bank of Baroda, Canara
Bank, Indian Bank, and Bank of Mysore were set up. The Reserve Bank of India came in 1935.
During the first phase, the growth was very slow and banks also experienced periodic failures
between 1913 and 1948. There were approximately 1,100 banks, mostly small. To streamline the
functioning and activities of commercial banks, the Government of India came up with the
Banking Companies Act, 1949, which was later changed to the Banking Regulation Act, 1949 as
per amending Act of 1965 (Act No. 23 of 1965). The Reserve Bank of India (RBI) was vested
with extensive powers for the supervision of banking in India as the Central banking authority.
During those days, the general public had lesser confidence in banks. As an aftermath, deposit
mobilization was slow. Moreover, the savings bank facility provided by the Postal department
was comparatively safer, and funds were largely given to traders.
Phase2
The government took major initiatives in banking sector reforms after Independence. In 1955, it
nationalized the Imperial Bank of India and started offering extensive banking facilities,
especially in rural and semi-urban areas. The government constituted the State Bank of India to
9
act as the principal agent of the RBI and to handle banking transactions of the Union government
and state governments all over the country. Seven banks owned by the Princely states were
nationalized in 1959 and they became subsidiaries of the State Bank of India. In 1969, 14
commercial banks in the country were nationalized. In the second phase of banking sector
reforms, seven more banks were nationalized in 1980. With this, 80 percent of the banking sector
in India came under the government ownership.
Phase3
This phase has introduced many more products and facilities in the banking sector as part of the
reforms process. In 1991, under the chairmanship of M Narasimham, a committee was set up,
which worked for the liberalization of banking practices. Now, the country is flooded with
foreign banks and their ATM stations. Efforts are being put to give a satisfactory service to
customers. Phone banking and net banking are introduced. The entire system became more
convenient and swift. Time is given importance in all money transactions.
The financial system of India has shown a great deal of resilience. It is sheltered from crises
triggered by external macroeconomic shocks, which other East Asian countries often suffered.
This is all due to a flexible exchange rate regime, the high foreign exchange reserve, the not-yet
fully convertible capital account, and the limited foreign exchange exposure of banks and their
customers.
The Banking Structure in India
The commercial banking structure in India consists of scheduled commercial banks and
unscheduled banks. Scheduled banks constitute those banks that are included in the Second
Schedule of Reserve Bank of India (RBI) Act, 1934. As on June 30, 1999, there were 300
scheduled banks in India having a total network of 64,918 branches. The scheduled commercial
banks in India comprise State Bank of India and its associates (8), nationalised banks (19),
foreign banks (45), private sector banks (32), co-operative banks, and regional rural banks.
Before the nationalization of Indian banks, the State Bank of India (SBI) was the only
nationalized bank, which was nationalized on July 1, 1955, under the SBI Act of 1955. The
nationalization
of
seven
State
Bank
10
subsidiaries
took
place
in
1959.
After the nationalization of banks in India, the branches of the public sector banks rose to
approximately 800 percent in deposits and advances took a huge jump by 11,000 percent.
Nationalization Process
Banks in India
In India, banks are segregated in different groups. Each group has its own benefits and
limitations in operations. Each has its own dedicated target market. A few of them work in the
rural sector only while others in both rural as well as urban. Many banks are catering in cities
only. Some banks are of Indian origin and some are foreign players.
Banks in India can be classified into:
Cooperative Banks
Foreign Banks
11
One aspect to be noted is the increasing number of foreign banks in India. The RBI has shown
certain interest to involve more foreign banks. This step has paved the way for a few more
foreign banks to start business in India.
Operate the credit and currency system of the country to its advantage
12
13
Bank places customer at the centre of all its operations and has transformed the process, people
and organizational structure. Bank has initiated a large scale transformation process named
Nav Nirman to address two critical aspects of growth- instilling the drive of sales & marketing
across bank staff and reconfiguration of banks business model. The transformation process
focuses on four key initiatives
a)Retail Asset ( marketing & processing)
b)SME marketing & processing)
c)Branch sales and services( improving the customer experience in the branch)
d) Centralisation of key processes
Bank has brought all its branches under Core banking solutions .Union Bank is the first large
bank to achieve 100 % CBS roll out. Bank has taken lead to establish alternate delivery channels
in the form of ATMs, internet banking, phone banking and Mobile Banking . Bank has
introduced many technology based services like RTGS, online NEFT free of cost, on line
application for products and services and online redressal of grievances.
Network and distribution
The business is grouped under various Verticals and well defined Business Strategic Units
were formed, which will drive the growth. Bank has a network of more than 2500 service outlets
which includes specialized branches for MSME (SME SARALS), corporate credit , Union Loan
points for Retail Products etc. Bank has representative offices in Abu Dhabi and Shanghai and
is in the process of opening its office in Sydney, Australia. A full fledged overseas branch was
opened in Hong Kong. To serve the varied banking needs of the NRIs, Bank has placed number
of Marketing Officials at various centers in UAE and Shanghai. Bank has plans to deploy more
number of Marketing Officials at many other places. Bank plans to open 500 new branches in the
next six months for which it has received licences from RBI.The bank will accelerate its
presence in the global market space at key locations in the next two years as part of the Vision
strategy.
Diversification
Union Bank in partnership with Bank of India and Dai-Ichi of Japan has formed a subsidiary for
distribution of Life insurance products, which has started selling the products. Bank has signed
14
an agreement with Belgian KBC group for setting up a joint venture AMC in India. Union Bank
has signed MoU with NSIC for training and setting up Incubation cum Training centers to
promote first generation entrepreneurs in MSME segment. Bank has entered into MoU with
NCMSL for financing against warehouse receipts for agri. commodities kept at NCMSL
warehouses. Bank has announced opening 100 specialised Business Banking branches across the
country to focus exclusively on MSME sector with turn around time of 2 weeks for sanction of
proposals. Bank has launched Mobile banking facility Umobile which facilitates limited
transactions and other services through mobile phones.
15
Recently, Union Bank customers in Ernakulam, Surat, Nasik and Chandigarh, have also started
experiencing the 'Union Xperience'. The long time vision is to roll out 'Union Xperience', to all
its Metro and Urban branches.
The existing branches have been remodelled to deliver superior customer experience. The thrust
is on automation of routine banking tasks viz passbook printing, cheque deposits etc. The sales
delivery model at these branches has also been re-designed.
- OLD LOGO
- NEW LOGO
Bank has adopted a simple new logo for universal appeal and to aid top of mind recall. The new
logo symbolizes the qualities and values we stand for- Blue standing for the commitment and the
16
Red for the passion the Bank brings to the work. Union bank has promised 4 key deliverables to
customers based on the strength built in
1)Value for money
2)Committed turnaround time for delivery of products and services
3)Choice of banking channels for customers and
4)Transparency in product offerings and prices
Bank promises that YOUR DREAMS ARE NOT YOUR ALONE ,there is a bank that is ready to
fulfill the dreams of every one and thus ensuring that we remain GOOD PEOPLE TO BANK
WITH for all times to come.
CUSTOMER SATISAFACTION
What constitutes Satisfaction?
The meaning of satisfaction: "Satisfied" has a range of meanings to individuals, but it
generally seems to be a positive assessment of the service.
The word "satisfied" itself had a number of different meanings for respondents, which can
be split into the broad themes of contentment/happiness, relief, achieving aims, achieving
aims and happy with outcome and the fact that they did not encounter any hassle.
Clearly then there is some variation in understanding of the term. Some of the interpretations fit
with the definitions used in much of the service quality and satisfaction literature, where
satisfaction is viewed as a zero state, merely an assessment that the service is adequate, as
opposed to "delight" which reflects a service that exceeds expectations. However, most
respondents have more positive interpretations of the term. These questions allow us to identify
priorities for improvement by comparing satisfaction with stated (overt) importance, comparing
satisfaction with modeled (covert) importance (from identifying key drivers of overall
satisfaction), as well as respondents' own stated priorities.
17
Ingrid Fecikova, (2004) interpreted satisfaction as a feeling which results from a process of
evaluating what was received against that expected, the purchase decision itself and/or the
fulfillment of needs/want.
Satisfaction refers to achieving the things we want. If satisfaction interprets as "not going wrong"
the firm should decrease complaint which by its own is not sufficient. In order to satisfy
customers, company should improve its services and products. Customers with less expectation
are more satisfied: companies by adding innovative features would easily increase customer
satisfaction. In contrast, when customers are unaware of improvements but critical of losses in
existing quality are less satisfied and expect more.
Customer satisfaction, a business term, is a measure of how products and services supplied by a
company meet or surpass customer expectation. It is seen as a key performance indicator within
business. In a competitive marketplace where businesses compete for customers, customer
satisfaction is seen as a key differentiator and increasingly has become a key element of business
strategy. Customer satisfaction is an ambiguous and abstract concept and the actual manifestation
of the state of satisfaction will vary from person to person and service to service. The state of
satisfaction depends on a number of both psychological and physical variables.
The customers mind is still closed to us; it is a black box that remains sealed. We can
observe inputs to the box and the decisions made as a result, but we can never know how
the act of processing inputs truly happens -- John E. G. Bateson
Customer satisfaction can be experienced in a variety of situations and connected to both goods
and services. It is a highly personal assessment that is greatly affected by customer expectations.
Satisfaction also is based on the customers experience of both contact with the organization and
personal outcomes. Some researchers define a satisfied customer within the private sector as
one who receives significant added value to his/her bottom linea definition that may apply
just as well to public services.
18
In today's competitive business environment marketing managers are more influenced from
customer expectation and meeting the demand for customer satisfaction is very important for
them. Every organization must define customer satisfaction regarding their market. So customer
satisfaction could not be defined only standard or quality of product. Customer satisfaction is
about relationships between the customer and product or service and the provider of a product or
service.
Customer satisfaction is a highly personal assessment that is greatly influenced by individual
expectations. Some definitions are based on the observation that customer satisfaction or
dissatisfaction results from either the confirmation or disconfirmation of individual expectations
regarding a service or product. To avoid difficulties stemming from the kaleidoscope of customer
expectations and differences, some experts urge companies to concentrate on a goal thats more
closely linked to customer equity. Instead of asking whether customers are satisfied, they
encourage companies to determine how customers hold them accountable.
Customer satisfaction is the degree to which a customer perceives that an individual, firm or
organization has effectively provided a product or service that meets the customers needs in the
context in which the customer is aware of and / or using the product or service. Satisfaction is
not inherent in the individual or the product but is a socially constructed response to the
relationship between a customer, the product and the product provider /maker. To the extent that
a provider / maker can influence the various dimensions of the relationship, the provider can
influence customer satisfaction
MEASURING CUSTOMER SATISFACTION IN THE BANKING INDUSTRY
Banking operations are becoming increasingly customer dictated. The demand for 'banking
supermalls' offering one-stop integrated financial services is well on the rise. The ability of banks
to offer clients access to several markets for different classes of financial instruments has become
a valuable competitive edge. Convergence in the industry to cater to the changing demographic
expectations is now more than evident. Bancassurance and other forms of cross selling and
strategic alliances will soon alter the business dynamics of banks and fuel the process of
consolidation for increased scope of business and revenue. The thrust on farm sector, health
sector and services offers several investment linkages. In short, the domestic economy is an
19
increasing pie which offers extensive economies of scale that only large banks will be in a
position to tap. With the phenomenal increase in the country's population and the increased
demand for banking services; speed, service quality and customer satisfaction are going to
be key differentiators for each bank's future success. Thus it is imperative for banks to get
useful feedback on their actual response time and customer service quality aspects of retail
banking, which in turn will help them take positive steps to maintain a competitive edge.
The working of the customer's mind is a mystery which is difficult to solve and understanding
the nuances of what customer satisfaction is, a challenging task. This exercise in the context of
the banking industry will give us an insight into the parameters of customer satisfaction and their
measurement. This vital information will help us to build satisfaction amongst the customers and
customer loyalty in the long run which is an integral part of any business. The customer's
requirements must be translated and quantified into measurable targets. This provides an easy
way to monitor improvements, and deciding upon the attributes that need to be concentrated on
in order to improve customer satisfaction. We can recognize where we need to make changes to
create improvements and determine if these changes, after implemented, have led to increased
customer satisfaction. "If you cannot measure it, you cannot improve it." - Lord William
Thomson Kelvin (1824-1907).
The Need to Measure Customer Satisfaction:
Satisfied customers are central to optimal performance and financial returns. In many places in
the world, business organizations have been elevating the role of the customer to that of a key
stakeholder over the past twenty years. Customers are viewed as a group whose satisfaction with
the enterprise must be incorporated in strategic planning efforts. Forward-looking companies are
finding value in directly measuring and tracking customer satisfaction (CS) as an important
strategic success indicator. Evidence is mounting that placing a high priority on CS is critical to
improved organizational performance in a global marketplace.
With better understanding of customers' perceptions, companies can determine the actions
required to meet the customers' needs. They can identify their own strengths and weaknesses,
where they stand in comparison to their competitors, chart out path future progress and
20
21
22
23
CHAPTER II
RESEARCH
METHODOLOGY
HYPOTHESIS
25
Scope of Study
The scope of the study is confined in comparing the two types of branches in Union Bank of
India in terms of customer satisfaction. The study will be undertaken on the basis of sample
survey. The total number of respondents for the whole study is 310, out of which 155 are from
Xperience Branches and rest 155 from Non-experience Branches. The branches are as follows:
XPERIENCE BRANCHES
NOIDA (NCR)
SAMALKHA (NCR)
KIRTI NAGAR (DELHI)
VIKAS PURI (DELHI)
MANGOLPURI (DELHI)
LODHI COLONY (DELHI)
AZADPUR (DELHI)
CHAKKARPUR (NCR)
KIRARI (DELHI)
METHODOLOGY
Type of research: Quantitative Research
26
Quantitative research is Explaining phenomena by collecting numerical data that are analyzed
using mathematically based methods. In this study also, data collected was grouped together,
coded into numerical form and then analyzed through mathematical methods to reach to a
conclusion.
Questionnaires
Personal Interviews
27
CHAPTER III
ANALYSIS
28
The below given five factors described the respondents group into different categories based on
different criterias.
FACTOR - 1
FACTOR
GENDER
MALE
FEMALE
72 %
28 %
Out of the total respondents (310), in both types of branches, 72% were male respondents and
28% of females. This shows that banking related activities are performed more by male members
of the family as compared to female members.
FACTOR - 2
FACTOR
AGE GROUP
LESS THAN 20
20-30
30-40
40-50
50-60
60-70
70-80
4%
24 %
20 %
25 %
15 %
9%
3%
Maximum numbers of respondents lie in the age group of 40-50, which is considered to be a
mature age group. Overall distribution of respondents as per age criteria shows that the total
responses is wide spread among different age groups and thus, can be said to be more accurate
for all age group of people.
FACTOR 3
FACTOR
OCCUPATION
SERVICE
BUSINESS
SELF EMPLOYED
PROFESSIONAL
RETIRED
HOUSE WIFE
STUDENT
29
42 %
27 %
5%
1%
8%
11 %
6%
42% of respondents are from service sector, this shows the rise in income of people and
inclination of people from this sector, towards banking facility as compared to other professions.
FACTOR 4
FACTOR
TYPE OF A/C
DEPOSIT
LOAN
LOCKER
CURRENT A/C
92 %
1%
1%
6%
The maximum percentage of type of a/c among respondents is Deposit a/c. This shows the
pattern of a/c holders in the bank branches which are inclined towards a particular side. A
deposit account is a savings account, current account, or other type of bank account, at a
banking institution that allows money to be deposited and withdrawn by the account holder.
These transactions are recorded on the bank's books, and the resulting balance is recorded as a
liability for the bank and represents the amount owed by the bank to the customer. Some banks
may charge a fee for this service, while others may pay the customer interest on the funds
deposited.
FACTOR 5
FACTOR
ANNUAL FAMILY INCOME
34 %
30 %
17 %
8%
6%
5%
When respondents are classified as per income criteria, there comes a balance between
respondents and majority of the respondents are from low and middle income group. It justifies
the above factor, as people of low and middle income group are more interested in Deposit a/c
as a facility of bank rather than locker or current a/c.
30
XPERIENCE BRANCH
27 %
56 %
10 %
2%
5%
NON EXPERIENCED
BRANCH
22 %
45 %
17%
7%
9%
The result shows that there is a big shift in employee responsiveness towards customers after
conversion to Xperience branch and this shift can be seen in form of customer response as 56%
customers feel good employee responsiveness in Xperience branches as compared to 45%
response in non-experience branches.
FACTOR 2
CUSTOMER ORIENTATION
AT THE BRANCH LEVEL
EXCELLENT
GOOD
AVERAGE
POOR
DONT KNW
XPERIENCE BRANCH
21 %
51 %
13 %
3%
12 %
31
NON EXPERIENCED
BRANCH
18 %
36 %
19 %
7%
20 %
There is a big shift in the customer orientation by the branch employees in Xperience Branches
(51%) than in non-experience branches(36%). Employees in the Xperience branches are trained
thoroughly to attend to the needs of the customers and this training is very beneficial, this is
evident from the figures given above.
FACTOR 3
ADMINISTRATIVE AND
SUPERVISORY
EFFECTIVENESS
ALWAYS
MOSTLY
RARELY
NEVER
DONT KNW
XPERIENCE BRANCH
NON EXPERIENCED
BRANCH
43 %
34 %
4%
4%
15 %
34 %
33 %
9%
6%
18 %
43% people in Xperience branches feel that administrative effectiveness always prevailed in the
branch whereas only 34% respondents feel the same in Non-experience branches. This shows the
shift in customer perception and employee responsiveness towars customers after conversion.
FACTOR 4
OVERALL EXPERIENCE
WITH NEW PRODUCTS
AND SERVICES
EXCELLENT
GOOD
AVERAGE
POOR
DONT USE PRODUCT
XPERIENCE BRANCH
NON EXPERIENCED
BRANCH
8%
14 %
8%
1%
69 %
8%
9%
2%
1%
80 %
32
69% people in Xperience branches dont use the new products and services whereas 80% people
dont use it in Non-experience branches. This shows how people still attach a stigma to new
products like ATM, Credit Card facility and so on.
FACTOR 5
DOES BANK AGGRESIVELY
SELL ITS PRODUCTS AND
SERVICES ?
YES
NO
XPERIENCE BRANCH
NON EXPERIENCED
BRANCH
35 %
65 %
30 %
70 %
35% of people feel that bank aggressively sells its products in Xperience branches
as compared to 30% in non-experince branches. It shows that after conversion,
employees are more aware about the needs of customers and ways to attract them
towards the new facilities avalaible.
Extra
services
available
to
XPERIENCED
BRANCHES customers
The below mentioned factors describe the extra services avalaible to Xperience branch customers
as compared to non-experienced branch customers.
ACCESSIBILITY AND QUALITY OF SERVICE XPERIENCED BRANCHES
RATING OF SELF OPERATED SERVICES IN XPERIENCE
BRANCHES
(ATM, PHONE BANKING, CASH DEPOSIT MACHINE, SELF
PASS BOOK PRINTER, CASH DEPOSIT MACHINE, POS
TERMINAL, KIOSK, CHEQUE DEPOSIT MACHINE ETC..)
EXCELLENT
GOOD
AVERAGE
POOR
DONT USE PRODUCT
XPERIENCE BRANCH
8%
16 %
13 %
1%
62 %
XPERIENCE BRANCH
OFTEN
SOMETIMES
NEVER
30 %
54 %
16 %
XPERIENCE BRANCH
72 %
23 %
5%
XPERIENCE BRANCH
64 %
36 %
XPERIENCE BRANCH
55 %
39 %
6%
XPERIENCE BRANCH
55 %
39 %
6%
XPERIENCE BRANCH
45 %
49 %
6%
XPERIENCE BRANCH
52 %
41 %
7%
XPERIENCE BRANCH
34
40 %
55 %
5%
Overall 95% of people said that they find the Xperience Branch better than that of regular
branch. This shows the change in customer perception and satisfaction after conversion.
OVERALL COMPARISON OF BOTH BRANCHES WITH OTHER BANKS
COMPARE CUSTOMER
SERVICE OF THIS BANK
WITH OTHER BANKS
MUCH BETTER
SLIGHTLY BETTER
SAME
WORSE
UNAWARE
XPERIENCE BRANCH
NON EXPERIENCED
BRANCH
57 %
39 %
3%
1%
0%
41 %
43 %
12 %
3%
1%
XPERIENCE BRANCH
NON EXPERIENCED
BRANCH
54 %
31 %
15 %
51 %
45 %
4%
It is evident that customers are more satisfied after conversion and are more likely
to recommend it to their known relatives and friends. As after conversion 96%
people say that Union Bank of India is better than any other bank as compared to
84% such responses from Non-experience branches.
35
CHAPTER IV
LIMITATIONS OF THE
STUDY
36
1. Research quality is heavily dependent on the individual skills of the researcher and more
easily influenced by the researcher's personal biases and idiosyncrasies.
2. Rigor is more difficult to maintain, assess, and demonstrate.
3. The volume of data makes analysis and interpretation time consuming.
4. It is sometimes not as well understood and accepted as quantitative research within the
scientific community
5. The researcher's presence during data gathering, which is often unavoidable in qualitative
research, can affect the subjects' responses.
6. Issues of anonymity and confidentiality can present problems when presenting finding.
7. Findings can be more difficult and time consuming to characterize in a visual way
This study is geographically restricted to Delhi and NCR only. The sample size is small (310
respondents) due to the specified reasons. Finding are based on sample survey through
questionnaires method. Hence there is a scope for the respondents to be biased or pretentious
37
CHAPTER V
FINDINGS AND
RECOMMENDATIONS
38
FINDINGS
Customer satisfaction level is higher in Xperience Union Bank Branches as compared with the
Non-experience Union Bank Branches. Thus , our alternate hypothesis proves to be true.
Reasons of Dissatisfaction in Non-experience Union Bank Branches
Behaviour and attitude of the staff is the first reason of customer dissatisfaction.
Time taken to process the transaction is the second reason of customer dissatisfaction.
Many of the services are not provided by the Non-experience Union Bank Branches
when compared to Xperience Union Bank Branches. e.g. Cash Deposit Machine, Self
passbook printer, phone banking etc. is not provided by Non Experience Branches of
Union Bank of India.
39
RECOMMENDATIONS
The staff should be adequately trained to deal with the customer on one to one basis in
Non-experience Branches.
Many branches need to revive their infrastructure to have pace with the competing
environment.
Many of the services needs improvement in Non-experience branches.
Staff should be adequately trained to encourage face to face dealing in Non-experience
branches.
Staff should be friendly and approachable in Non-experience branches.
Clearly defined customer policy should be adopted by the branches.
Customers needs should be anticipated in advance so that they can be helped out in a
better way.
Treat your customers like your friends and they'll always come back.
Honour your promises.
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BIBLIOGRAPHY
Books:
Internet websites:
http://www.gktoday.in/brief-history-of-banking-in-india/
www.iba.org.in
www.rbi.gov.in
www.unionbankofindia.com/
http://en.wikipedia.org/wiki/Union_Bank_of_India
http://en.wikipedia.org/wiki/Customer_satisfaction
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email id
Age
Sex
product /service being availed
Occupation
appx. Annual family income
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