MEASURING THE SERVICE: OBJECTIVES

Primary Objective: To measure the service gap between the perceived and expected services provided by the retail banks in the top five cities of Tamilnadu.

Secondary Objectives:
• To find which bank provides better services in the following attributes: Tangibility, Reliability, Responsiveness, Empathy, Assurance and Communication.
• To identify the factors influencing customer retention.
• To determine the differences in service level provided by the retail banks among the top five cities in Tamilnadu.


Fig1Measuring The Service Quality_decrypted
METHODOLOGY

Research Design: Descriptive. The research design is descriptive since an attempt is made to explain/ describe the gap between the perceived and expected services provided by the retail banks.

Sampling method: Non-probability purposive sampling method. This method is followed because the population is very large and not clearly defined.

Sampling Technique: The study was conducted in top five cities in Tamilnadu in terms of retail deposit among the Top four banks in Tamilnadu ( two public sector and two private sector ), in terms of number of branches present in Tamilnadu, using a structured questionnaire following convenience sampling technique.

Sample Distribution:

LOCATION/ BANK SBI INDIAN BANK ICICI BANK HDFC TOTAL
COIMBATORE 45 50 47 45 187
MADURAI 42 42 40 45 169
TRICHY 40 38 35 37 150
SALEM 43 40 43 42 168
CHENNAI 40 50 50 47 187
TOTAL 210 220 215 216 861

Primary data were collected by direct oral investigation method. Tools used: To analyse the data, the following tools were used:
• ‘Z’ Test
• One Way ANOVA
• Two Way ANOVA
• Garrett’s Ranking Techniques were appropriately applied.

Representative APR 391%

Let's say you want to borrow $100 for two week. Lender can charge you $15 for borrowing $100 for two weeks. You will need to return $115 to the lender at the end of 2 weeks. The cost of the $100 loan is a $15 finance charge and an annual percentage rate of 391 percent. If you decide to roll over the loan for another two weeks, lender can charge you another $15. If you roll-over the loan three times, the finance charge would climb to $60 to borrow the $100.

Implications of Non-payment: Some lenders in our network may automatically roll over your existing loan for another two weeks if you don't pay back the loan on time. Fees for renewing the loan range from lender to lender. Most of the time these fees equal the fees you paid to get the initial payday loan. We ask lenders in our network to follow legal and ethical collection practices set by industry associations and government agencies. Non-payment of a payday loan might negatively effect your credit history.

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