A Study on Customer Satisfaction of Old Generation and New Generation Private Sector Banks With Reference To Salem City

MARKETING

Banking system occupies an important place in a nation’s economy. A banking institution is indispensable in a modern society. It plays a pivotal role in the economic development of any country and forms the core of the money market. A Bank is an institution that provides financial services particularly taking deposits and extending credit. Currently the term bank is generally understood as an institution that holds a banking license. Under most jurisdictions, a banking license is a prerequisite for a financial institution that wants to provide banking services, such as taking deposits from the general public. Banking sector performs three primary functions in economy, the operation of the payment system, the mobilization of savings and the allocation of saving to investment products. Banking industry has been changed after reforms process. The Government has taken this sector in a basic priority and this service sector has been changed according to the need of present days. Banking sector reforms in India strive to increase efficiency and profitability of the banking institutions as well as to bring the existing banking institutions face to face with global competition in globalization process. Different types of banks differ from each other in terms of operations, efficiency, productivity, profitability and credit efficiency. Indian banking sector is an important constituent of the Indian financial system. The banking sector plays a vital role through promoting business in urban as well as rural area in recent years. Without a sound and effective banking system, India cannot be considered as a healthy economy.

This work is licensed under a Creative Commons Attribution-ShareAlike 4.0 International License.