The IUP Journal of Management Research
The Impact of Service Quality on Customer Satisfaction: A Study of Retail Banking in Mumbai

Article Details
Pub. Date : Jan, 2022
Product Name : The IUP Journal of Management Research
Product Type : Article
Product Code : IJMR010122
Author Name : Devaki Nadkarni and Dinesh D Harsolekar
Availability : YES
Subject/Domain : Arts & Humanities
Download Format : PDF Format
No. of Pages : 16



Retail banking is facing challenges because of economic uncertainties, rapidly changing technologies, tech-savvy, well-informed demanding customers and fierce competition. It is crucial for banks to understand changing customer expectations and comply with them. Service quality is the ability of a service provider to satisfy its customers efficiently, and it affects customer loyalty. The study aims to find out the important attributes of service quality in retail banking that can be used to assess the quality of service as perceived by customers and influences customer satisfaction. It includes the perceptions of 220 customers of all the three types of banks, namely, public sector, private sector and cooperative in Mumbai. After analysis, five dimensions of service quality emerged. It is found that 'Service delivery' has the maximum influence on customer satisfaction, followed by 'Net banking'. This validates that a bank that focuses on providing excellent and genuine customer service will differentiate itself from its competitor and would be successful in improving the brand's reputation and creating customer loyalty and trust.


Banks play an important role in the economic development of the country. The financial institution accepts deposits and channels them into lending activities either directly or through capital markets (Nagabhushanam, 2011-12). Being a customer-oriented service industry, it has evolved over a period of time. However, it is facing challenges because of economic uncertainties, rapidly changing