3.1       Objectives of the Study

i)          To examine the significance of the customer experience of commercial banks.

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ii)         To  study the role of commercial banking to execute Jan Dhan Yojana Scheme.

iii)        To understand the problems of the customers’ and make suggestions for further     improvement.             

 

3.2 Assumption of the Study           

H0 :        Commercial banks are failure to provide satisfactory services to the customers  those         opened accounts under the Jan Dhan Yojana Scheme.             

H1 :        Commercial banks providing satisfactory services to the customers those opened    accounts under the Jan Dhan Yojana Scheme.    

 

3.3 Limitations of the Study

            The scope of the study was confined with few retail commercial banking operations and, therefore only selected parameters have been evaluated. Due to time and cost constraints, a survey was restricted to only 100 respondents of commercial banks of Thane District, especially accounts opened under the Jan Dhan Yojana Scheme. The spill over effects of the overall banking industry has not been included in the study.

 

4.         Data Analysis

4.1       The researcher wants to understand the demographic profile of the respondent and accordingly questionnaire has been framed and recorded maximum information from the respondent.  An easy to understand and quick response, closed ended questions were set to gather quality information which was helpful to draw logical conclusion.  Information collected from the 100 samples of commercial bank customers those were opened, their accounts under the Jan Dhan Yojana Scheme.   The following table shows detailed information of the respondents.                                                                         Table No. 1

                                    Demographic Profile of the respondents.

Sr.No.

Particulars

Count

Percentage

1.

Male

77

77%

 

Female

23

23%

2.

Residence at –  Kalyan (Semi-Urban)

25

25.4%

 

                         Bhiwandi ()

30

30.2%

 

                         Shahapur (Rural)

45

44.4%

3.

Age –   upto 15 years

10

9.5%

 

            Between 16-35 years

35

35.1%

 

            Between 36-59 years

47

47.3%

 

            Above 60 years.

08

8.1%

4.

Education-  Illiterate

24

23.7%

 

                    Upto 8th Std.

26

26.3%

 

                    9th Std to SSC/HSC

29

28.9%

 

                   Graduate and above

21

21.1%

5

Occupation – Farmer

08

8.1%

 

                       Worker

47

47.3%

 

                       Self employed

28

28.4%

 

                       Housewife

17

16.8%

6.

Monthly Income-Upto  2000                 

02

1.6%

 

                             2000-4000

03

3.1%

 

                 4000-6000

25

25.0%

 

                             Above  6000

70

70.3%

          (Source : Compiled from primary data)

 

            Table No.1, it described that 47 percent respondents’ were in the  age group of 35-59 years are active in financial operations. The respondents belong to self employed groups were availing benefits of the scheme and transacting through accounts successfully. Respondents those having monthly income between  2000/- to  6,000/- and above.  In this segment, 70 percent respondent earning monthly more than  6000/- and therefore, they need secured monetary operations for personal as well as commercial activities including micro-finance.

 

4.2       Commercial banks are providing  a variety of services to their customers in an easy manner.  To find out the operations of the commercial banks, especially for account opened under the JDY Scheme, a five point rating scale was used and measured the satisfaction level of the respondents.   The following table shows the access of commercial banks to 100 respondents duly equally divided among nationalized and commercial banks.

                                                               Table No. 2

             Respondent’s response on access of retail transaction through commercial banks.

Types of Bank

 

       Access of retail transaction  

 

 

Strongly

Agree

Don’t

Disagree

Strongly

Total

 

 

Agree

 

Know

 

Disagree

 

Nationalized Banks.

Count

30

12

3

3

2

50

 

% within

60%

24%

6%

6%

4%

 100%

Private Banks.

Count

23

17

5

3

2

50

 

% within

46%

34%

10%

6%

4%

 100%

Total

Count

53

29

8

6

4

100

 

% within

53%

29%

8%

6%

4%

100%

  (Source: Compiled from primary data)

 

 

                     (Source: Compiled from primary data)

 

            From the table  and graph No.2, describe the access of the respondent’s  response on retail transactions of commercial banking. Within the nationalized banks, 60 percent of the respondents  (30 numbers) and private banks 44 percent (22 numbers) respondents enjoying easy access of banking operations and operating regularly for their various types of monetary transactions.  However, the remaining few respondents from both the banks said that banking transactions had not as per their level of satisfactions due to non-operative ATMs machines, rude behaviour of the staff and doesn’t have the capacity to purchase a smart phone due to cost constraints.  It is concluded that more than 92 percent of the total respondents from nationalized and private banks said that they have greater satisfaction from access of retail transactions of commercial banks. Moreover, respondents have shown their greater experience with nationalized banks, i.e., 53 percent as compared to private banks 29 percent.    

 

4.3       Commercial banks undertake the Jan Dhan Yojana Scheme in accordance with the financial inclusion mission.  Whereas, nationalized banks have more significance as compared to private banks, and stake of nationalized banks is more than private banks. The following tables show the accounts opened by both the banking sectors for 100 sample size.

                                                                        Table No. 3

                                         Status of banks under Jan Dhan Yojana Scheme.

 

Count

Percentage

Nationalized bank

71

71.4%

Private bank

29

28.6%

                                                     (Source : Compiled from primary data)

 

From the table No.3, it’s revealed that nationalized banks operating in more numbers as compared to private banks. Nationalized banks spread over the geographical areas and established branches/business correspondents in rural/remote areas also. Second thought described that there is strong trust of customers on nationalized banks as compared to private banks.

                                                            Table No.4

                         Respondents’ experience of banking transactions.

Parameter

Count

Percentage

Strongly Agree

45

45.4%

Agree

42

41.7%

Can’t say

08

7.6%

Disagree

03

3.3%

Strongly disagree

02

2.0%

                                   (Source: Compiled from primary data)

 

 

(Source: Compiled from primary data)

 

            Table and Graph No.4, represent the data about the respondent experience of banking transactions.  Responses were collected from 100 respondents about the experience of retail services offered by commercial banks.  Accordingly, 87 percent respondent (87 numbers) was said about easy and convenient experience of banking operations, whereas 5 percent respondent expressed their dis-satisfaction due to the cash disbursement issue.  The remaining respondent said that traditional banking is safe and secured.  It is to be noted that respondents feels unsecured due to risk of hacking of bank accounts and loss of RuPay debit card.  Staff behaviour is  another areas which discouraging customers to operate bank accounts easily. It is concluded that more than 87 percent of the total respondents said that they are experiencing access of retail transactions of commercial banks.    

 

4.1       Findings

a)                  Findings from this study indicate about high levels of satisfaction of retail operations offered by commercial banks to the customers opened their account under the Jan Dhan Yojana Scheme.   Customer satisfaction level recorded at  87 percent in the case of operation of bank accounts.  

b)                 Around 87 percent customers having  a strongly agree opinion about the retail services offered by commercial banks where as 5 percent just are showing  their dis-satisfaction. Hence, there is a strong need to develop the innovative strategy to maintain customer’s satisfaction level.

c)                  Retail services offered by commercial banks are more friendly among the customers whose monthly income level             is more than  8,000/- per month.  This kind of segment is operating their monetary  transactions through banks and trusted on institutional banking system.

 

4.2       Future scope of the study

            Commercial banks have made a significant impact on the payment system, especially to the poor and vulnerable population. Banks have simplified the operations and made it more convenient for people those were excluded so far.   This study has wider scope for research in the various geographical areas and digital retail banking. This topic is applicable to all the sections of the society, therefore, an outreach of the customer satisfaction level of commercial banks and its impact can be available for further research.  The study is also helpful to the policy makers and researcher of social science, management and economics to understand the level of experience with commercial bank, especially for the Jan Dhan Yojana. Scheme. 

 

5. Conclusion and Suggestion.

            In this paper, an attempt has been made to study customer experience with commercial banks, especially for those opened accounts under the Jan Dhan Yojana Scheme.  The present study is focused on various banking services and their subsequent impacts on the socioeconomic development.  National Payment Corporation of India, which is operating various 12 payment services, recently announced record value of  1 billion in various financial transactions from the clearing of cheques, ATMs, IMPS, UPI, BHIM, RuPay, PoS, e-commerce and Aadhaar based payments.

 

Thus, we may conclude that commercial banks offering plethora of services which has significant impact on the customer to saving and investment opportunities.  Commercial banks need to concentrate on neglected areas. The financial literacy campaign should strengthen on a regularly basis to gain customer’s confidence.  Banks should adopt latest technology for extensive coverage of the excluded population in general and achieve the objectives of financial inclusion in particular.  

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