Customer Satisfaction in Public and Private Sector Banks: A Comparative Study in Bilaspur, Chhattisgarh

Abstract

As a cornerstone of the financial system, the banking sector drives economic expansion by providing essential financial services. Customer satisfaction is vital for maintaining an existing clientele and drawing new customers to expand operations. As competition intensifies daily across business sectors, an organisation’s ultimate success hinges on customer contentment. In Bilaspur, Chhattisgarh, both public and private banks offer financial services, with differing policies and strategies that result in varying levels of customer satisfaction. This study aims to assess customer satisfaction levels in “various public and private sector” banks in Bilaspur, Chhattisgarh. This research seeks to determine how satisfied people are with public and private banks. It will examine differences in satisfaction levels and explore why people feel satisfied or dissatisfied with each type of bank. The study utilised primary data collected through a structured field survey involving 150 customers from both public and private banks to assess satisfaction levels. Overall, customers of both types of banks expressed satisfaction, although certain tangible aspects and employee behaviours still need improvement due to strategic issues and employee inefficiencies. Enhancements in these areas are essential. This research can help develop strategies to improve the quality of banking services. The findings will be valuable for creating approaches to upgrade banking activities and service levels.

Keywords: Public Sector Banks, Private Sector Banks, Customer Satisfaction

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