A STUDY ON ASSESSMENT OF SERVICE QUALITY AND CUSTOMER SATISFACTION IN BANKING INDUSTRY- A COMPARATIVE STUDY BETWEEN SBI AND ICICI

Paper ID: EIJTEM_2025_12_2_1-8

Author's Name: Dr R Muthukrishnan, Ashwin Kumar R, Ancy Fausteena J, Aayesha Safa B

Volume: 12

Issue: 2

Year: 2025

Page No: 1-8

Abstract:

The Indian banking industry has undergone significant transformations due to economic liberalization, technological advancements, and rising customer expectations. This study aims to assess service quality and customer satisfaction in the banking sector, focusing on a comparative analysis between State Bank of India (SBI), a leading public sector bank, and ICICI Bank, a dominant private sector bank. The research evaluates key service quality dimensions, including reliability, responsiveness, assurance, empathy, and tangibility, using the SERVQUAL model. A structured questionnaire was administered to customers of both banks to gather primary data, while secondary data sources, such as bank reports and regulatory guidelines, supplemented the analysis. Statistical tools like percentage analysis, descriptive statistics, chi-square tests, and t-tests were employed to measure service quality gaps and customer perceptions. The findings reveal that ICICI Bank demonstrates superior service quality in digital banking, customer responsiveness, and personalized services, whereas SBI excels in accessibility, trust, and financial inclusion. Despite technological advancements, both banks exhibit service gaps, particularly in responsiveness and assurance. The study highlights areas for improvement, suggesting that SBI should enhance digital banking efficiency and employee training, while ICICI Bank should focus on increasing trust and accessibility for customers in semi-urban and rural areas. Addressing these service gaps can significantly enhance customer satisfaction, loyalty, and competitive advantage for both banks. This research contributes valuable insights for banking institutions to refine their service strategies, ensuring higher customer satisfaction in a competitive financial landscape. Future studies can expand the scope by incorporating additional banks and exploring emerging factors such as artificial intelligence and fintech-driven banking services.

Keywords: SERVICE QUALITY, CUSTOMER SATISFACTION, BANKING INDUSTRY

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