The term ‘Retail Banking’ encompasses various financial products.
Different types of deposit accounts, housing-consumer-auto and other types of loan accounts, demat facilities, insurance, mutual funds, Credit and Debit Cards, ATM and other technology-based services, stock-broking, payment of utility bills, reservation of railway tickets, etc.,) catering to diverse customer groups, offering
Approach to the Problem The Hypothesis testing has been done by applying F test and Factor Analysis. We have Drawn 12 Hypothesis . Ho ( Null Hypothesis) Ha (Alternative Hypothesis) The entire data analysis consists of several stages. Hypothesis Hypothesis Testing Data Analysis
Research Design Exploratory Research Sampling & Sample Size Data Collection Procedure Steps taken for Research Design
Consumer purchase behavior Model
Sources of Transactions
Awareness of the bank
Security factor RURAL URBAN
Services RURAL URBAN
Activities RURAL URBAN
Technology RURAL URBAN
Networking RURAL URBAN
Customized Products RURAL URBAN
Conclusion(Rural) Rural consumer relies on secondary facts majorly through word of mouth Rural customers prefer security over services 1 Rural people usually prefer personalized banking. 2 . 3 For Rural Customer Does not prefer Easy Location 4 5 The prime concern for rural customer is “interest rates”
Conclusion(Urban) Media has become the primary source of information for urban customers The urban customers seek for the multiple services 1 The urban customers are more tech savvy 2 . 3 Urban Customer prefer quick services 4 5 Urban customers opt for the bank whose networking is very strong
Rural areas should not be ignored & given equal attention as of the urban areas.
Ambience should be admired by the rural as well as urban customers.
There’s lot of scope in retail banks which the people are not aware of ,hence customer service should be provided.
Emphasis should be laid on the promotions in retail banking sector.
There should exist a corporate social responsibility towards rural customers as well as urban customers.
Lack of awareness among people regarding banks products and services.
People may not give correct information regarding their income etc .
Unwillingness from the side rural of people to cooperate.
Bank may not give correct information regarding their product and services.