TRANSFORMATION IN BANKING SERVICES CUSTOMER’S CHOICE VS CUSTOMER’S SHIFTING OF A BANK

With an ever-expanding competitive market place, domestically and internationally, customer service is gaining the pride of place in all the sectors of the economy. The emphasis is more on a service industry like banking. The Indian banking scenario has witnessed a significant transformation in recent years. The impact of banking sector reforms in the country is noticed in the area of the quality of banking services and customer satisfaction. The technological breakthrough has imparted new dimensions to the banking services in the form of computerized branches, on-line banking, home banking, electronic transfer of funds, ATMs, plastic cards, etc. Technology in banking services contributes to quickness of services, accuracy of information, anytime and anywhere banking, total convenience on the part of employees and customers, etc. Hence Customer’s Choice of a Bank and the Customer’s Shifting of a Bank have prompted the “‘Transformation in the Banking Services”. The aim of this study is to analyze the transformation in Banking Services in relation to Customer’s Choice of a Bank and Customer’s Shifting of a Bank. It has been concluded that a banker has to respond promptly and has to be sensitive to the needs of the customers because the dissatisfied customers may defect to other banks and a satisfied customer will be willing to stay till something better emerges in the future