ABSTRACT
Banking is the backbone of financial intermediation in the course of mobilization and channeling of financial resources. The role of banks in the economy facilitate financial settlement through the payment system, influence money market rates, and provide a means for international payment. Banks are finding it tough to get new customers, and retain existing customers. To survive in the competitive world, banks are realizing the importance of customer relationship management to create the customer loyalty. The liberalization and financial sector reforms force the Indian banks to revisit their goals and strategies. Most of the banks realize the importance of customer relationship management. The present market scenario of the banking sector is highly complex and competitive with little stability due to the entry of national and international financial institutions in the emerging economies. At this juncture, the researchers have made an attempt to examine the perception of employees towards customer relationship management of the new-generation private banks in Puducherry. The study is confined to 6 new generation private banks namely HDFC Bank, ICICI Bank, Axis Bank, Yes Bank, Kotak Mahindra Bank, and IndusInd Bank. For collecting primary data from the bankers, a multi-stage sampling technique was adopted. In the first stage, 2 regions namely Puducherry and Karaikal were selected out of 4 regions. In the second stage, 60 per cent of the branches i.e. 11 branches were selected out of 18 branches of 6 new generation private banks in the Puducherry and Karaikal regions. In the final stage, from each of the branches 6 employees i.e. 2 managers and 4 staff were selected. The primary data were collected from 66 employees with the help of a schedule. The findings of the study show that 33.33% of the employees neither agree nor disagree with CRM practices adopted in the new generation private banks, followed closely by agree (25.76%) and disagree (25.76%). Out of 66 respondents, 31.80% of the respondents agree with the practical utility of CRM practices, followed by neither agree nor disagree (28.80%) and disagree (19.70%). 12.10% and 7.60% of the respondents strongly agree and strongly disagree respectively with the practical utility of CRM practices. The employees suggest various measures to improve the customer relationship management in the new generation of private banks.
Keywords: Customer relationship management, relationship marketing, marketing of banking services, customer satisfaction, etc.
Received : April 2022
Accepted : April 2022
Published : May 2022