A Structural Compendium on Service Quality and Customer Satisfaction: A Comparative Study between Public and Private Sector Banks in India

The core objective of the study is to be acquainted with how bank services quality affects the customer satisfaction. In particular, to measure and analyze the quality of services offered by public and private sector top three banks in India. After meticulous review of germane literature on service quality and customer satisfaction, by administering questionnaires along with personal interviews, researchers garnered the data related to the selected topic for the study. Total 600 respondents' opinions collected with random and convenience sampling methods. First time, the researchers applied BANKQUAL after checking the reliability with Cronbach's Alpha and the selected hypotheses were proved with Chi-Square test and t-test. 81 percent of SBI and 75 percent of ICICI customers are leading the overall satisfaction levels in the selected banks for the study. Startlingly, all the public sector banks chosen for the study are leading in the satisfaction index over the private sector banks by demonstrating the difference in the dimensions of credibility, influence and geographical spread. The research is most precious to diverse stakeholders of Indian banking industry particularly to banks who have plans to review their existing service quality for further improvement and to government for introducing necessary precautionary measures to control the industry. This research is first of its kind with the application of comprehensive BANKQUAL statement for checking the service quality of banks in India.