Customer Satisfaction and Complaint Resolution in the Indian Banking Sector: An Empirical Analysis
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Abstract
In order to determine the main factors driving consumer unhappiness and how they affect complaint filing, this study examines customer dissatisfaction and complaint filing behaviour in the Indian banking industry. To investigate satisfaction levels, complaints made, and their frequency in both public and private sector banks, information was gathered from 300 bank clients. According to the report, the main causes of discontent include things like poor customer service, transaction problems, fraud and security difficulties, unanswered complaints, and insufficient customer support. While private sector banks like Axis and HDFC also had significant complaint submissions, public sector banks like SBI, PNB, and Canara Bank had greater complaint rates. According to the results, a large number of respondents complained more than once, suggesting that their discontent was persistent. The report highlights how important it is for banks to enhance customer security, communication, complaint resolution procedures, and service quality. According to managerial implications, managing complaints well and finding quick solutions can increase client loyalty and satisfaction. The report also makes recommendations for further investigation into the effects of online banking services and how demographic characteristics influence consumer expectations. In addition to offering helpful suggestions for enhancing the customer experience in the Indian banking industry, this study includes insightful information about customer discontent.