Business Management Essay

2709 Words Jan 28th, 2013 11 Pages
International Journal of Business and Management

Vol. 5, No. 4; April 2010

Influence of Service Quality on Customer Satisfaction Application of Servqual Model
K. Ravichandran College of Business Administration in Alkharj, King Saud University P O Box 165, 11942, Alkharj, Saudi Arabia E-mail: varshal2@yahoo.com B. Tamil Mani Reader, Gandhigram University Dindugul, Tamilnadu, India E-mail: dr_tamilmani@rediffmail.com S. Arun Kumar Department of Management Studies, Saranathan College of Engineering Trichy, Tamilnadu, India E-mail: arunkanthh@yahoo.co.in S. Prabhakaran College of Business Administration in Alkharj, King Saud University P O Box 165, 11942, Alkharj, Saudi Arabia E-mail: jopraba@gmail.com Abstract Financial liberalization
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1.1 About private retail banking in India Initially all the banks in India were private banks, which were founded in the pre-independence era to cater to the banking needs of the people. In 1921, three major banks i.e. Banks of Bengal, Bank of Bombay, and Bank of Madras, merged to form Imperial Bank of India. In 1935, the Reserve Bank of India (RBI) was established and it took over the central banking responsibilities from the Imperial Bank of India, transferring commercial banking functions completely to IBI. In 1955, after the declaration of first-five year plan, Imperial Bank of India was subsequently transformed into State Bank of India (SBI). In 1994, the Reserve Bank of India issued a policy of liberalization to license limited number of private banks, which came to be known as New Generation

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International Journal of Business and Management

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tech-savvy banks. Global Trust Bank was, thus, the first private bank after liberalization; it was later amalgamated with Oriental Bank of Commerce (OBC). At present, Private Banks in India includes leading banks like ICICI Banks, ING Vysya Bank, Jammu & Kashmir Bank, Karnataka Bank, Kotak Mahindra Bank, SBI Commercial and International Bank, etc. Undoubtedly, being tech-savvy and full of expertise, private banks have played a major role in the development of Indian banking industry. This paper endeavors’ to fill the gap in the service quality

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