A STUDY OF CRM PRACTICES BY STATE BANK OF INDIA
Customers plays a very important role in the growth of the banking industry, as for designing financial products or services bankers required professional skills and face tough challenges. Among the all available financial services sectors banking is the most older and important financial-service sector in India. The present economic conditions in India combined with globalization, promises extraordinary growth prospects, so Customer Relationship Management (CRM) has a massive influence in the banking sector. CRM proves a very profitable strategy for maintaining the existing customers effectively rather than looking for new customers. The main role of CRM is to make sustainable relationship with the existing customers; Therefore Indian banks are now focusing more on customer’s satisfaction. Hence the researcher attempt to study the level of satisfaction on CRM practices of SBI. As SBI is the largest and one of the oldest commercial bank in India for more than 200 years and it plays a very important role in the economic development and growth of banking sector. The absence of CRM understanding in banking sector is always a matter of concern for researchers. Banks have their own techniques for managing customers relationships, as a major player in banking industry SBI have to attend the customers need without any time delay so it can create more customers awareness and have a very useful customer database. Hence for a loyal customers group how SBI emphasize CRM practices and whether SBI need to improve the satisfaction level of their customers for utilizing various modern customer friendly banking services to make modern banking activity a great pleasure for the existing customers.
Keywords: Customer Relationship Management (CRM), loyal customers, Banking service quality and satisfaction.
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