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Banking plays an important and vital role in the Indian Economy not only in Independent India but since the Vedic period. Remarkable performance has been noticed during the Pre Independence, Post Independence, Post Nationalized period and in the recent times too. The Success and failure of banking sector like any other service sector organization fully depends on the customer satisfaction of the service provided by that sector.
The purpose of this study is to find out the satisfaction level of customers with the uses of internet banking services facilities provided by the banks across the state which leads to make more loyal customer and hence loyalty leads to the attracting more customer, expansion of business and increase in net profit.
Data were collected with the help of open ended questionnaire in and around Vadodara city. The Snow ball sampling has been used to identify the respondents.
The finding of the study shows that there is a significant variation in the level of satisfaction among internet banking users across the state.
The overall satisfaction of an Internet banking users totally depends upon Reliability, Responsiveness, Security, Ease of use, Access and Tangible. Study also suggests some necessary steps need to be taken to improve the satisfaction level of customers with the use of Internet banking across the state.
Internet Banking in India Internet Banking can provide speedier, faster and reliable services to the customers for which they are relatively happy.
Internet Banking Services not only can create new competitive advantages, it can improve its relationships with customers. At present, the total Internet users in the country are estimated at 9 lakh.
However, this is expected to grow exponentially to lakh by This increased to The growth potential is, therefore, immense. The facility of accessing their accounts from anywhere in the world by using a home computer with Internet connection, is particularly fascinating to Non-Resident Indians and High Net worth Individuals having multiple bank accounts.
Costs of banking service through the Internet form a fraction of costs through conventional methods. Rough estimates assume teller cost at Re. The cost-conscious banks in the country have therefore actively considered use of the Internet as a channel for providing services.
Fully computerized banks, with better management of their customer base are in a stronger position to cross-sell their products through this channel. Internet Banking in India: Compared to banks abroad, Indian banks offering online services still have a long way to go.
For online banking to reach a critical mass, there has to be sufficient number of users and the sufficient infrastructure in place. Though various security options like line encryption, branch connection encryption, firewalls, digital certificates, automatic signoffs, random pop-ups and disaster recovery sites are in place or are being looked at, there is as yet no Certification Authority in India offering Public Key Infrastructure which is absolutely necessary for online banking.
The customer can only be assured of a secured conduit for its online activities if an authority certifying digital signatures is in place. The communication bandwidth available today in India is also not enough to meet the needs of high priority services like online banking and trading.
Banks offering online facilities need to have an effective disaster recovery plan along with comprehensive risk management measures. Banks offering online facilities also need to calculate their downtime losses, because even a few minutes of downtime in a week could mean substantial losses.
Some banks even today do not have uninterrupted power supply unit or systems to take care of prolonged power breakdown. Proper encryption of data and effective use of passwords are also matters that leave a lot to be desired.
Systems and processes have to be put in place to ensure that errors do not take place. Users of Internet Banking Services are required to fill up the application forms online and send a copy of the same by mail or fax to the bank.
A contractual agreement is entered into by the customer with the bank for using the Internet banking services. In this way, personal data in the applications forms is being held by the bank providing the service. The contract details are often one-sided, with the bank having the absolute discretion to amend or supplement any of the terms at any time.
For these reasons domestic customers for whom other access points such as ATMs, tele- banking, personal contact, etc. Non-resident Indians for whom it is expensive and time consuming to access their bank accounts maintained in India find net banking very convenient and useful.
The purpose of this study is to find out the Customer satisfaction of internet banking users which leads to make more loyal customer and hence loyalty leads to the attracting more customer, expansion of business and increase in net profit.
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