1.1 INTRODUCTION TO PRIVATE SECTOR BANKSPrivate Banks have played a major role in the development of Indian banking industry. They have made banking more efficient and customer friendly. In the process they have jolted public sector banks out of complacency and forced them to become more competitive.Axis Bank began its operations in1994, after theGovernment of Indiaallowed new private banks to be established. The Bank was promoted in1993jointly by the Administrator of theUnit Trust of India(UTI-I),Life Insurance Corporation of India(LIC), General Insurance Corporation Ltd., National Insurance Company Ltd.,The New India Assurance Company, The Oriental Insurance Corporation andUnited India Insurance Company. The Unit Trust of India holds a special position in the Indian capital markets and has promoted many leading financial institutions in the country.Axis Bank (erstwhile UTI Bank) opened its registered office in Ahmedabad and corporate office in Mumbai in December 1993. The first branch was inaugurated on 2 April 1994 in Ahmedabadby Dr.Manmohan Singh, then Finance Minister of India.In 2001 UTI Bank agreed to merge with and amalgamateGlobal Trust Bank, but theReserve Bank of India(RBI) withheld approval and nothing came of this. In 2004 the RBI put Global Trust into moratorium and supervised its merger intoOriental Bank of Commerce.UTI Bank opened its first overseas branch in 2006 Singapore. That same year it opened a representative office inShanghai, China.UTI Bank opened a branch in theDubai International Financial Centrein 2007. That same year it began branch operations in Hong Kong. The next year it opened a representative office in Dubai.Axis Bank opened a branch in Colombo in October 2011, as a Licensed Commercial Bank supervised by the Central Bank of Sri Lanka. Also in 2011, Axis Bank opened a representative offices in Abu Dhabi.In 2013, Axis Bank's subsidiary, Axis Bank UK commenced banking operations. Axis Bank UK has a branch in London.In 2014, Axis Bank upgraded itsrepresentative office in Shanghai to a branch.

Introduction of IDBI Bank:

The Industrial Development Bank of India Limited, now more popularly known IDBI Bank, was established as a wholly-owned subsidiary of Reserve Bank of India. The foundation of the bank was laid down under an Act of Parliament, in July1964. The main aim behind the setting up of IDBI was to provide credit and other facilities for the Indian industry, which was still in the initial stages of growth and development. In February 1976, the ownership of IDBI was transferred to Government of India. After the transfer of its ownership, IDBI became the main institution, through which the institutes engaged in financing, promoting and developing industry were to be coordinated. In January 1992, IDBI accessed domestic retail debt market for the first time, with innovative Deep Discount Bonds, and registered path-breaking success. The following year, it set up the IDBI Capital Market Services Ltd., as its wholly-owned subsidiary, to offer a broad range of financial services, including Bond Trading, Equity Broking, Client Asset Management and Depository Services. In September 1994, in response to RBI's policy of opening up domestic banking sector to private participation, IDBI set up IDBI Bank Ltd., in association with SIDBI. In July 1995, public issue of the bank was taken out, after which the Government's shareholding came down (though it still retains majority of the shareholding in the bank). In September 2003, IDBI took over Tata Home Finance Ltd, renamed IDBI Home finance Limited, thus diversifying its business domain and entering the arena of retail finance sector The year 2005 witnessed the merger of IDBI Bank with the Industrial Development Bank of India Ltd. The new entity continued to its development finance role, while providing an array of wholesale and retail banking products (and does so till date). The following year, IDBI Bank acquired United Western Bank (which, at that time, had 230 branches spread over 47 districts, in 9 states). In the financial year of 2008, IDBI Bank had a net income of Rs 9415.9 crores and total assets of Rs120,601 crores.The PresentToday, IDBI Bank is counted amongst the leading public sector banks of India, apart from claiming the distinction of being the 4th largest bank, in overall ratings. It is presently regarded as the tenth largest development bank in the world, mainly in terms of reach. This is because of its wide network of 509 branches, 900 ATMs and319 centers. Apart from being involved in banking services, IDBI has set up

Yes Bank, incorporated in 2004 by Rana Kapoor and Late Ashok Kapur, is a new age private sector bank. Since inception Yes Bank has fructified into a Full Service Commercial Bank that has steadily built Corporate and Institutional Banking, Financial Markets, Investment Banking, Corporate Finance, Branch Banking, Business and Transaction Banking, and Wealth Management business lines across the country, and is well equipped to offer a range of products and services to corporate and retail customers.YES BANK offers a fullrange of clientfocused corporate banking services, including working capital finance, specialized corporate finance, trade and transactional services, treasury risk management services, investment banking solutions and liquidity management solutions among others to a highly focused client base.The bank is part of global thought leadership forums like the Clinton Global Initiative (CGI), Triple Bottom Line Investing (TBLI) and Tallberg Forum. Recently, it became the first Indian Bank to become a signatory with the United Nations Environment Programme (Financial Initiative).As part of the differentiated strategy, Yes Bank has had a strong focus on Development Banking, as is evident from the cuttingedge work that the Bank has done in the area of Food & Agribusiness, Infrastructure, Microfinance, and Sustainability which in most cases has been firstofits kind in IndiaYes Bank has partnered with various companies for delivering quality products and services namely Cash Tech, Cisco Systems, Gartner, Intel, iflex, Reuters, VSNL, Wipro, De La Rue, Murex, Wincor Nixdorf and Sanovi.The bank also has a widespread branch network of over 331 branches across 200 cities, with over 420 ATM's and 2 National Operating Centres in Mumbai and Gurgaon.Business AreasCorporate and Institutional Banking The bank offers a broad range of financial and risk management solutions to clients such as large Indian corporates and groups, multinational companies, central and state governments, government bodies and public sector enterprises.Business Banking Yes Bank offers a range of products, services and resources to small and medium businesses.Corporate Finance It offers corporate finance solutions to various clients such as local corporates, multinational companies, financial institutions and public sector undertakings.Retail Banking Under this, the bank offers wide range of products and services such as saving account, current account, fixed deposit, retail loan, depository services and many more.Investment Banking Yes Bank offers investment banking services in area of mergers and acquisitions, divestitures, private equity syndication and IPO advisory.Awards & Recognitions :In March 2014 The Bank was awarded the Ramkrishna Bajaj National Quality (RBNQ) Business Excellence Award 2013 in the Services Category. Organized by Indian Merchants Chamber, YES BANK is the only bank to win this prestigious award in the history of the RBNQ Award.Outstanding Business Sustainability Achievement Karlsruhe Sustainable Finance Awards Germany, 2013Jamnalal Bajaj Uchit Vyavahar Puraskar (Service EnterprisesLarge) Council for Fair Business Practices (CFBP) 2012Financial Institutions Syndicated Deal of the Year, Asia Pacific Region Asia Pacific Loan Market Association (APLMA) 2012Global Business Excellence Award, Dubai, 2013Sustainability Award, London, 2012 Golden PeacockInstitutional Excellence YES BANK receives the 'Fastest Growing Bank' Award third year in a row at the Business world Best BankAwards 2011 YES BANK receives the Best Private Sector Bank Award at Dun & Bradstreet Polaris Software Banking Awards 2011 YES BANK receives Sustainable Bank of the Year (Asia/Pacific) Award at FT/IFC Sustainable Finance Awards 2011, LondonBusiness Excellence1) YES BANK won seven awards at Asias Best Employer Brand Awards and the CMO Asia Awards for Excellence in Branding and Marketing that were held on July 22, 2011 in Singapore. The bank received awards in the following categories: Continuous Innovation in HR Strategy at Work Talent Management Best HR Strategy in Line with Business Excellence in HR through Technology CEO of the Year Award to Mr. Rana Kapoor Brand Excellence in Banking, Financial Services & Insurance Best Corporate Social Responsibility Practice (Overall)2) YES BANK received 'The Asian Banker Technology Implementation Awards 2011' Won the Best Multichannel Capability Project Award for increasing its distribution and optimizing its mobile banking services Won the Best Financial Supply Chain Project Award for streamlining a clients business processes into a single work flow, automating remittances and allowing for faster and more accurate reconciliation3) YES BANKs Chief Information Security Officer ranked as one of the Top 100 CISOs at the TOP 100 CISO Awards 2011.4) YES BANK receives significant recognition at The Banker Technology Awards 2011 Wonthe Commercial Banking Project of the Year Award Innovation in Cash and Treasury Technology1.2 INTRODUCTION TO CUSTOMER RELATIONSHIP MANAGEMENTCustomer Relationship Management has been with us over the ages, for as long as people traded with each other. In those days, the physical closeness in location between the customer and the supplier led to the relationship. Even in less developed countries and traditional societies such business models currently still exist. People congregated on market days and the customers usually buy from people they know, have bought from before. The supplier also knew his customers well, what they liked, how they liked it, what they did not want, and was able to deliver the customer's needs and wants. And based on their knowledge of the customer, they could also add sweeteners to ensure customer loyalty, and bring in related samples to introduce their existing customers to new things. Their loyal customers then spread the word and introduced other customers to them. And gradually they became well known for what they sold or provided.As countries developed and urbanization took place, the physical distance between the supplier and the customer increased. Intermediaries and merchants developed to transport the product from the producer to the customer. To pay for their efforts they added their margins on top of the supplier's price.With increasing urbanization and industrialization, suppliers could no longer deal with their customers directly. They could no longer know their customers' needs, wants, preferences, habits, and other characteristics that helped them to compete. The problem then arose of how to compete with products that are not tailored to customers' needs. So they started building brands, and using advertising and mass marketing to persuade remote customers and compete for a greater share of the market. The flavor of the times was mass production, standardization, strong universal brand, and a deep penetration of the market. However this involved a lot of guess work, and some big mistakes were sometimes made. The disconnection with the customer also meant that direct-feedback from the individual customer was not available.Over the years, competition became so fierce that mass marketing became inadequate in ensuring the brand, as customers could easily move to a competitor at any time. Relying on customers to remain with a business without bothering to interact with them is risky. It also became clear that not all customers are equally valuable to a business, and the focus moved to finding out what made a customer valuable. The way a customer interacts with the business can have significant impact on their loyalty and retention, so customer service gained prominence. Costs of acquiring and retaining a customer became really important, and it became clear that selling to an existing customer is cheaper than acquiring and selling to a new customer. Reducing the cost of selling and improving profits required more precise marketing, and this required the firm to be able to gather, retain, analyze and interpret customer data. However, this information gathering, analysis, and interpretation was very complex, expensive and could not be easily done manually.And then computerization came, followed by the Internet. And it became possible again for suppliers to reach individual customers, connect with them and understand their needs and wants. This enabled the firm to build a relationship with the individual customer, similar to that seen in the old days, and the field of Customer Relationship Management (CRM) was born. The aims of CRM for the supplier/firm is to deliver value to the customer at a profit, and to deliver that value so well that the customer remained loyal, and the supplier became a first choice for the product/service, with an enhancement of the supplier's reputation and brand. For the customer, the value of CRM is to have a supplier who understands the customer's needs and wants so well, that value was delivered at every interaction, with fewer mistakes. Since technology is very essential for delivery of the supplier's CRM aims, for some people CRM became synonymous with the technological tools. And some CRM technology vendors and practitioners insisted that their interpretation of CRM was the truth. These differing views affected the implementation and use of CRM technology. Companies and suppliers using these different CRM technologies also judged and defined them by their experience of how it met their business needs.CRM stands for Customer Relationship Management. It is a strategy used to learn more about customers' needs and behaviors in order to develop stronger relationships with them. Good customer relationships are at the heart of business success. There are many technological components to CRM, but thinking about CRM in primarily technological terms is a mistake. The more useful way to think about CRM is as a strategic process that will help you better understand your customers needs and how you can meet those needs and enhance your bottom line at the same time. This strategy depends on bringing together lots of pieces of information about customers and market trends so you can sell and market your products and services more effectively.Customer relationship management (CRM) is a broad term that covers concepts used by companies to manage their relationships with customers, including the capture, storage and analysis of customer, vendor, partner, and internal process information.

1.3 What is the goal of CRM?The idea of CRM is that it helps businesses use technology and human resources to gain insight into the behavior of customers and the value of those customers. With an effective CRM strategy, a business can increase revenues by: providing services and products that are exactly what your customers want offering better customer service cross selling products more effectively helping sales staff close deals faster Retaining existing customers and discovering new ones.

1.4Three Key Phases in CRM:1. Customer Acquisition2. Customer Retention3. Customer Extension1. Customer Acquisition - This is the process of attracting our customer for the first their first purchase. We have acquired our customer.Growth - Through market orientation, innovative IT and value creation we aim to increase the number of customers that purchase from us for the first time.2. Customer Retention - Our customer returns to us and buys for a second time. We keep them as a customer. This is most likely to be the purchase of a similar product or service, or the next level of product or service.Growth - Through market orientation, innovative IT and value creation we aim to increase the number of customers that purchase from us regularly.3. Customer Extension - Our customers are regularly returning to purchase from us. We introduce products and services to our loyal customers that may not wholly relate to their original purchase. These are additional, supplementary purchases. Of course once our loyal customers have purchased them, our goal is to retain them as customers for the extended products or services.Growth - Through market orientation, innovative IT and value creation we aim to increase the number of customers that purchase additional or supplementary products and services.

2.1REVIEW OF LITERATURENumber of researches has been conducted on role of customer relationship management. This section covers few of the studies conducted by different researchers at different times.Ryals et al. (2001) studied that there was a major change in the way companies organize themselves as firms switch from product-based to customer-based structures. A key driver of this change was the advent of Customer Relationship Management which, underpinned by information systems convergence and the development of supporting software, promises to significantly improve the implementation of Relationship Marketing principles. It was found that the three main issues that can enable (or hinder) the development of Customer Relationship Management in the service sector are the organizational issues of culture and communication, management metrics and cross-functional integration especially between marketing and information technology.Chen et al. (2003) analyzed that Customer relationship management (CRM) is a combination of people, processes and technology that seeks to understand a company's customers. It is an integrated approach to managing relationships by focusing on customer retention and relationship development. CRM has evolved from advances in information technology and organizational changes in customer-centric processes. Companies that successfully implement CRM will reap the rewards in customer loyalty and long run profitability. However, successful implementation is elusive to many companies, mostly because they do not understand that CRM requires company-wide, cross-functional, customer-focused business process re-engineering. Although a large portion of CRM is technology, viewing CRM as a technology-only solution is likely to fail. Managing a successful CRM implementation requires an integrated and balanced approach to technology, process, and people.

Zineldin (2005) examined the product and service quality and customer relationship factors that influence the customer selection and image of the principal banks. The purpose of the study was to theoretically and empirically develop a better understanding of quality and customer relationship management (CRM) impact on banking competitiveness. It was suggested that a bank has to create customer relationships that deliver value beyond that provided by the core product. This involves added tangible and intangible elements to the core products, thus creating and enhancing the product surrounding. One necessary condition for the realisation of quality and the creation of value added is quality measurement and control which is an important function to ensure the fulfillment of given customer requirements. The key ways to building a strong competitive position are through CRM, product/service quality and differentiation.

Geib et al. (2006) identified key issues and successful patterns of collaborative customer relationship management (CRM) in financial services networks. The study took the form of a multi-case analysis. It was found that key issues of CRM in financial services networks are redundant competencies of partnering companies, privacy constraints, CRM process integration, customer information exchange, and CRM systems integration. To address these issues, partnering companies have to agree on clear responsibilities in collaborative processes. Data privacy protection laws require that customer data transfer between partnering companies has the explicit approval of customers. For process integration, companies have to agree on process standards and ajoint integration architecture. Web services and internet-based standards can be used for inter-organizational systems integration. Data integration requires the development of a joint data model. Either a unique customer identification number or a matching algorithm must be used to consolidate customer data records of partnering companies.

Bennani et al. (2007) aimed to provide insights on the core components of CRM and the implementation of CRM strategy. A case study of CRM implementation at a large Swedish firm was carried out using open-ended, face-to-face and telephone interview methods to collect data from key informants at both strategic and operative levels. The empirical studies focused on technical and cognitive aspects necessary for successful implementation of a sustainable CRM strategy. It was found that relationships were not only a tactical weapon, but represent a different, strategic approach to buyer-seller exchange. It was also found that implementing sustainable CRM strategy requires the endorsement by and commitment from top management, systematic cross-functional communication, and mandatory customer loyalty training programmes for all employees.

Rangone et al. (2007) aimed to estimate the size of the Italian market for mobile customer relationship management (mCRM) services and tried to evaluate some benefits that could be obtained through the use of mCRM applications by companies. The research involved a census of mCRM applications in order to construct a typology of mCRM applications being used and the analysis of some case studies to assess the impact of such applications on the perspective adopted by the company. The second phase involved interviews with managers of the companies. It was found that in 2005, 1,077 mCRM services were used by 405 companies in Italy. The main benefits found were the improvement of customer satisfaction, an increase in the efficiency of internal processes and an increase in revenue.Top of Form

Sinisalo et al. (2007) presented a conceptualization of mobile CRM delineating its unique characteristics. Second, the authors developed the empirically grounded framework of the underlying issues in the initiation of mobile CRM. A single-case-study method was used for the empirical component of the study. Semi-structured interviews of the key informants of the company formed the main data source through which the issues were identified and the proposed framework was built. The proposed framework identified issues that could be divided into three categories (exogenous, endogenous and mobile CRM-specific) the company had to take into account when moving towards mobile CRM.

Bellou et al. (2008) examined the internal service quality has on employees' prosocial customer behavior displayed, which is crucial for customers' perception of service quality. This effect was examined both for publicly and for privately held banks. Out of 19 banks that operated in a major Greek city, 16 agreed to cooperate. The researchers personally administered 10 questionnaires to front-line employees of every branch, on a random basis, and gathered 113 usable questionnaires. It was found that employees were more likely to improve their general performance and were more cooperative when internal service quality existed. Despite the fact that employees in both sectors agreed to the fact that reliability and access were critical for displaying role-prescribed customer behavior, there was significant difference with regards to cooperation and extra-role customer behavior.

Khan et al. (2008) explored the satisfaction variables within the banking industry. The key findings of an empirical research were based on the data collected from 555 customers. Systematic methodology, including design and validation of questionnaire, factor analysis and regression analysis were utilized to enhance reliability of the findings. The study reinforced that customer satisfaction is linked with performance of the banks. The authors demonstrated how adaptation of satisfaction variables can lead to better performance.

Top of FormKevork et al. (2009) studied the customer relationship management (CRM) to obtain a comprehensive framework of mutually exclusive CRM research areas and sub-areas free of all potentially disruptive factors. The keywords reported in 396 CRM articles published during the period 2000-2006 were used to uncover first a great number of detailed keyword sub-groups and, by subject summation, the CRM-related research areas. This classification scheme was considered unbiased, in contrast with any direct classification of articles alone among CRM research areas fixed in advance. It was found that an up-to-date conceptual and functional CRM framework emerged, consisting of a total of nine distinct research areas having their own weights, importance and popularity among the research community. Newly emerging CRM research areas were self-identified as attracting the interest of the researchers and managers.

Previous studies revealed that majority of the researchers have focused on the impact of customer relationship management, the previous studies provide insights on the core components of CRM and the implementation of CRM strategy but they had not covered the role of customer relationship management in private banks.

3.1NEED OF THE STUDYThe researches conducted earlier focused on the impact of customer relationship management on banks competitiveness. They aimed to provide insights on the core components of CRM and the implementation of CRM strategy. Considering the ample importance of CRM, the need was felt to know its effectiveness in private sector banks. So, the study was conducted to know the concept of customer relationship management and its role in the private sector banks. This study also covered the satisfaction that customers derived from the services and facilities provided by banks.3.2SCOPE OF THE STUDYThe scope of the study was limited to the role of customer relationship management in private banks carried out in Jalandhar.3.3OBJECTIVES OF THE STUDYEvery study is conducted with a view to fulfill our objective and each study has some objective to achieve. Whenever we do study a particular topic or conduct a research, we have reasons for it that why we our conducting that research. The current study has been undertaken in order to achieve the following objectives:1. To analyze the opinion of the customers for the various services and benefits provided by bank with a view to promote customer relationship management.2. To judge the satisfaction level of customers from services and facilities provided by banks.3. To know the various shortcomings/problems felt by customers while dealing with their respective banks.4. To know the future expectations of customers regarding services of the private banks.

4. RESEARCH METHODOLOGYResearch is a procedure of logical and systematic application of the fundamentals of science to the general and overall questions of a study and scientific technique, which provide precise tools, specific procedures, and technical rather philosophical means for getting and ordering the data prior to their logical analysis and manipulation different type of research designs is available depending upon the nature of research project, availability of manpower and circumstances.4.1RESEARCH DESIGN:The research design for the present study was descriptive because it was based on the facts and findings of different kinds. 4.2SAMPLING DESIGN:4.2.1Sample Universe: The Universe for the current study were the various customers of private banks.4.2.2Sample Size: It was of 100 respondents from Jalandhar city.4.2.3Sample unit: Customers of Private Banks who belongs to Jalandhar City from the following category: students, businessmen, professionals and service class people.4.2.4Sampling Technique: Convenience sampling had been used for this study. 4.3SOURCES OF DATA COLLECTION:i) Secondary data: Secondary data are those which have already been collected by someone else and which have already been passed through the statistical process. Secondary data is collected from govt. publications, journals, magazines, financial records, web sites and annual publications of the company. In this study secondary source used was websites and journals.

ii) Primary data: Primary data are those, which are collected afresh and for the first time, and thus happen to be original in character. It is the backbone of any study. Primary data has been collected by conducting surveys through questionnaire. Survey questionnaire was self-administered and was distributed personally. The respondents were debriefed for the objectives of the research and were informed that the returned questionnaires would be treated confidentially.The questionnaire was distributed to 100 respondents. It was divided into two sections. Section A consisted of the demographic profile of the respondents and Section B consisted of the major portion covering the entire questions to know people views regarding Customer Relationship Management in private banks. The questionnaire consisted of rank questions, 5 point liker scale etc. had been used which consisted of a number of statements which consists of various factors affecting customer relationship. The respondent responded to in terms of several degrees of interest and experience.

Table 5.1: Demographic Profile of Customers

DEMOGRAPHIC FACTORSCATEGORIESNUMBERPERCENTAGE

AGEBelow 25 years65 65.00%

25-40 years2525.00%

41-55 years77.00%

Above 55 years33.00%

Total100100

QUALIFICATIONUnder Graduate88.00%

Graduate2525.00%

Post Graduate6565.00%

Diploma00.00%

Other Discipline22.00%

Total100100

OCCUPATIONStudent6565.00%

Business2020.00%

Professional1010.00%

Others55.00%

Total100100

AVERAGE ANNUAL INCOME (Rs.)Below Rs. 50,0004040.00%

Rs. 50,001 to1,00,0003030.00%

Rs. 1,00,001 to 3,00,0002020.00%

Rs. 3,00,001 to 5,00,00088.00%

Above 5,00,00022.00%

Total100100

1. Private Sector bank that is largely availed by respondents.

Table 5.2: Customer Preference for Private Sector Bank Private Banks No. of Respondents Percentage

HDFC Bank3030.00%

ICICI Bank4040.00%

Axis Bank1515.00%

Standard Chartered Bank22.00%

IDBI Bank88.00%

YES Bank55.00%

Total100100%

Figure 5.1: Customer Preference for Private Sector Bank

Analysis and Interpretation: The above table and graph depict that out of 100 respondents, 30.00% of respondents prefer HDFC bank, followed by 40.00% in ICICI Bank, 15.00% in AXIS Bank, 2% in Standard Chartered Bank, 8.00% in IDBI Bank and 5% in YES Bank Therefore majority of customers of private banks prefer ICICI among others.

2. Types of account operated by respondents.

Table 5.3: Types of Account Operated by Respondents

Type of AccountNo. of RespondentsPercentage

Savings Account8585.00%

Current Account1010.00%

Term Deposits Account55.00%

Total100100%

Figure 5.2: Types of Account Operated by Respondents

Analysis and Interpretation: On the basis of the above graph & table it can be analyzed that majority of the respondents i.e. 85.00% are operating savings account, followed by 10.00% respondents who are operating current account and 5.00% operating term deposits account. Therefore, savings account is operated most by respondents

Number of respondents differs because multiple choices were invited.

3. Type(s) of service encounters provided by specified bank.

Table 5.4: Type(S) of Service Encounter Provided

Service Encounters No. of Respondents Percentage

Personal encounter4040.00%

Mail encounter3030.00%

Telephonic encounter2020.00%

Home delivery1010.00%

Total100100%

Figure 5.3: Type(S) of Service Encounter Provided

Analysis and Interpretation: It is clear from the above graph and table that when asked for type of service encounter used by them, most of the respondents i.e. 40.00% respondents replied that they were using personal encounter to get the details of their account followed by telephonic encounter, mail encounter and home delivery. Therefore, most of the respondents are provided with service of personal encounter by banks.

Number of respondents differs because multiple choices were invited.4. Helped by customer service representative in financial planning.

Table 5.5: Help Provided by Customer Service Representative or Not

Customer Service Representative Help No. of Respondents Percentage

Yes8080.00%

No2020.00%

Total100100%

Figure 5.4: Help Provided by Customer Service Representative or Not

Analysis and Interpretation: From the above table and graph it is clear that 80.00% respondents are helped by customer service representative in financial planning and 20.00% respondents are not at all helped. Therefore, it is clear that customer service representatives are helping the customers in financial planning.

5. Timely guidance and knowledge about new schemes and services provided by Customer service representative.

Table 5.8: Timely Guidance and Knowledge Provided to Customers

Guidance About New Services No. of Respondents Percentage

Yes9090%

No1010%

Total100100%

Figure 5.5: Timely Guidance and Knowledge Provided to Customers

Analysis and Interpretation: It is clear from the graph and table that 90% respondents agreed and 10% respondents didnt agreed that timely guidance and knowledge is provided to them by customer service representative. Therefore, it is clear that customer service representatives are guiding the customers about new services.

6. Ratings given by the customers to the customer service representative they speak to generally.

Table 5.7: Satisfaction Level Regarding Customer Service Representative

Sr. no.Attributes5Strongly agree4Agree3Neutral2Disagree1Strongly disagreeSummated score

8.1The CSR is very courteous403020100440

8.2The CSR is very knowledgeable452515150400

8.3The CSR attend me quickly254015200370

Score=100*5=500(Strongly Agree)Score=100*3=300(Neutral)Score=100*1=100(Strongly Agree)

Analysis and Interpretation

8.1Majority of the respondents agreed that the customer service representatives they speak are very courteous.8.2The customers agreed that the CSR with whom they speak are knowledgeable.8.3Majority of the respondents agreed that the CSR attended their call quickly.

Majority of the respondents agreed that the Customer service representative they speak to is courteous (Summated score 125), knowledgeable (Summated score 124) as well as attend them quickly (Summated score 113). 7. Problems faced in the bank out of the following.

Table 5.8: Types of Problems Faced by Respondents

Problems faced in bankNo. of RespondentsPercentage

Slow Service1515.00%

Long waiting time/ lines3030.00%

More guarantee requirements2020.00%

Unfriendly Staff1010.00%

Difficulty in accessing account1515.00%

No timely solution1010.00%

Total100*100%

Figure 5.6: Types of Problems Faced by Respondents

Analysis and Interpretation: The above table and graph shows that majority i.e. 43.47% respondents have faced problem regarding long waiting lines, 33.17% respondents think that requirements of guarantees is the major problem, followed by difficulty in accessing the account, slow service and unfriendly behavior of staff. Therefore, it is clear that most of the respondents have faced the problem of long waiting lines.

Number of respondents differs because multiple choices were invited.8. Level of satisfaction among customers.

Table 5.9: Satisfaction Level of Customers

Sr. No.Attributes5Highly Satisfied4Satisfied3Neutral2Dissatisfied1Highly dissatisfiedSummated score

10.1Quick and Fast service204010300350

10.2Ease in accessing the account403015105390

10.3Good Staff3030201010360

10.4Guarantee requirement204025105360

10.5Transfer facility of your account in any other branch352025100350

10.6Renewing the account20403082368

10.7Loan Facility152550105350

10.8Reliability40302055395

Score=100*5=500(Strongly Agree)Score=100*3=300 (Neutral)Score=100*1=100(Strongly Agree)

Analysis and Interpretation10.1The respondents are satisfied with the service of private banks.10.2As regard ease in accessing the account respondents are falling in agree side.10.3Majority of the respondents are satisfied with the services of staff.10.4 Respondents are not satisfied with the guarantee requirements demanded by Banks.10.5Most of the respondents are satisfied with the facility of transfer of account in any other branch.10.6Respondents are satisfied with the facility of renewal of account.10.7The respondents are not satisfied with the loan facilities provided by bank.10.8As far as attribute of reliability is concerned the respondents think that private banks are not at all reliable.

9. Future expectations of Customers regarding services of bank.Table 5.10: Future Expectations of Customers from BankFuture expectations of customers from bankNo. of RespondentsPercentage

Quick and quality Service2525.00%

Ease in accessing the account 1515.00%

Less guarantee requirements1010.00%

True representation of all charges3535.00%

Timely solution to the problem1515.00%

Total100*100%

Figure 5.7: Future Expectations of Customers from Bank

Analysis and interpretation: From the above graph and table it is clear that 35% of the respondents expect true representation of all charges from the bank, 25% of the respondents want quick and quality service, 10% want there should be less guarantee requirements followed by timely solution to the problem and ease in accessing the account. Therefore, true representation of all charges is expected mostly by the customers from the bank. Number of respondents differs because multiple choices were invited.

6. FINDINGS OF THE STUDYAfter a detailed study of role of customer relationship management in private banks, the above analysis revealed the following findings: Among various private sector banks, ICICI bank is largely availed bank, followed by HDFC bank. Majority of the respondents are operating savings account, followed by current account and Term deposit account. In case of different types of service counters provided by banks, majority of the respondents are provided with personal counter, followed by respondents with mail counters. Majority of the respondents agreed that they are being helped by customer service representative of their bank in financial planning, Most of the respondents agreed that the customer service representative of their bank guides them and provide them knowledge about latest schemes and services whereas some of them disagreed. Majority of the respondents agreed that the customer service representatives they speak to are courteous, knowledgeable and also they attend customers quickly. Majority of the respondents said that long waiting time/lines is the major problem, whereas some of respondents said that more guarantee requirements of the banks is their major problem. Majority of the respondents are expecting that the sales representatives of banks should tell them about all the charges i.e. no hidden charges should be there, and also people are expecting quick and quality services from the banks. The respondents said that there should be provided with true representation of all the charges along with quick and quality service for timely solution of their problems.

7.1CONCLUSION

Many researches were conducted earlier also on customer relationship management, but the previous studies provide insights on the core components of CRM and the implementation of CRM strategy but they had not covered the role of customer relationship management in private banks. So the study was conducted to know the effectiveness of CRM in private sector banks. The study conducted was descriptive in nature and it consisted of 100 respondents from Jalandhar city.

The respondents were chosen by using non probability- judgmental sampling technique and the information was collected by interviewing them and by using well structured questionnaire. It was found that with the advent of various Private Banks in India, the competition among banks has increased very much. There are number of facilities that are provided by the private banks to their customers now days. CRM plays an important role behind the success of every bank.

Sales representatives of the banks are influencing the people to open their account in private banks. Customer service representatives are helping people in financial planning and also they are guiding and providing knowledge to the people regarding new services. Therefore CRM is used by the banks for attracting new customers, maintaining the existing customers and afterwards extending their reach of customers by satisfying customers by providing timely and quality services.

7.2RECOMMENDATIONSAfter conducting a detailed study on the role of customer relationship management in private banks, the following recommendations can be made:1. Most of the respondents are availing services of ICICI and HDFC bank and the other banks are not preferred much by customers. Therefore the other banks should also provide quick and quality services to the customers.2. Many of the respondents were not even aware of banks like AXIS bank so the less preferred banks should increase their promotional activities so that people become aware and start using its services.3. The customers are facing the problem of long waiting time/lines. Therefore, banks should focus more on promotion of net banking, so that people get aware of the service and use it more, so that problem of long waiting time/lines can be solved.4. Today the customers mainly prefer a particular bank because of its better services and friendly behavior of staff, and staff will behave well only if they are properly satisfied and motivated. Therefore the banks should keep their employees satisfied through monetary and non-monetary benefits.5. Generally the customers complain about the hidden charges charged from their account by banks. Therefore, the banks should avoid this practice and they should make clear about all the charges to the customers.6. In case the customer is facing any problem the banks should take the steps to solve the problems of customers timely, the problem should not be delayed. It will help bank retaining its existing customers.

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