Welcome to Open Science
Contact Us
Home Books Journals Submission Open Science Join Us News
A Study on the Impact of Banking Ombudsman Scheme on Service Quality Provided by Banks
Current Issue
Volume 3, 2015
Issue 6 (December)
Pages: 324-329   |   Vol. 3, No. 6, December 2015   |   Follow on         
Paper in PDF Downloads: 89   Since Oct. 23, 2015 Views: 1756   Since Oct. 23, 2015
Authors
[1]
P. Malyadri, Government Degree College, Rayalaseema University, Kurnool, A. P. India.
[2]
S. Sirisha, Institute for Technology and Management - Business School, Warangal, India.
Abstract
The banking system in India today has perhaps the largest outreach for delivery of financial services and is also serving as an important conduit for delivery of financial services. The Reserve Bank of India set up the Bank Ombudsman in year 1995 to provide an expeditious and inexpensive forum to bank customers for resolution of their complaints relating to deficiency in banking services. The Ombudsman Scheme is a system of expeditious and inexpensive resolution to customer complaints. The customers who are unhappy with the services rendered by a bank or face problems while dealing with one can apply to the banking ombudsman for redressal under the RBI’s Banking Ombudsman Scheme. Banking ombudsman exploits the Redressal policy to reach out to the large number of customers which are beyond the reach of traditional Redressal systems. In this regard the paper evaluates the performance of Banking Ombudsman Scheme 2006 in terms of complaints received on Deposits, Loans, ATM Debit cards and credit cards, pension, Non observance of fair practices, total complaints and region wise complaints and in this paper we have analyzed the impact of Banking Ombudsman Scheme on service quality provided by banking institutions. For this purpose Trend analysis technique have been employed. The study indicates that the number of complaints against banking institutions has been continuously increasing under the Banking Ombudsman Scheme in regions like Patna, Kanpur Bhubaneshwar, Guwahati, Mumbai and continuously decreasing in regions like Ahmedabad Chandigarh, Chennai, Jaipur, Kolkata and New Delh. The total complaints against foreign banks have been decreasing while the total complaints against private sector banks have been increasing. No doubt, the scheme will gain more popularity in future and its impacts on service quality by banks will be positive.
Keywords
Banking Performance, Banking Ombudsman, Customer Complaints, Grievances
Reference
[1]
Bhaskar, P. V. (2004). Customer service in banks. IBA Bulletin, 36(8), 9- 13.
[2]
Chhikara, Kuldip S.; Kodan, Anand S.Banking Ombudsman Scheme In India: An Evaluation, International Journal of Global Management; Feb2012, Vol. 2 Issue 2, p18.
[3]
Ganesh, C., & Varghese, M. E. (2003). Customer service in banks: An empirical study. Vinimaya, 36(2), 14-26.
[4]
Goyal, S., & Thakur, K. S. (2008). A study of customer satisfaction public and private sector banks of India. Journal of Business Studies, 3(2), 121-127.
[5]
Hasanbanu, S. (2004). Customer service in rural banks: An analytical study of attitude of different types of customers towards banking services. IBA Bulletin, 36(8), 21-25.
[6]
Jain, A. K., & Jain, P. (2006). Customer satisfaction in retail banking services. Journal of Business Studies, 1(2), 95-102.
[7]
Kamakodi, N. (2007). Customer preferences on e-banking services: Understanding through a sample survey of customers of present day banks in India contributors. Banknet Publications, 4, 30-43.
[8]
Malyadri. P & Sirisha. S, Success of banking ombudsmen scheme: Myth or reality, International Journal of Research Studies in Management 2012 April, Volume 1 Number 1, 17 - 24.
[9]
Mishra, J. K., & Jain, M. (2007). Constituent dimensions of customer satisfaction: A study of nationalized and private banks. Prajnan, 35(4), 390-398.
[10]
Shankar, A. G. (2004). Customer service in banks. IBA Bulletin, 36(8), 5-7.
[11]
Singh, S. (2004). An appraisal of customer service of public sector banks. IBA Bulletin, 36(8), 30-33.
[12]
Singh, S. B. (2006). Customer management in banks. Vinimaya, 37(3), 31 - 35.
[13]
Sujatha Sussana Kumari, D, Customer Service Through The Banking Ombudsman Scheme - An Evaluation, International Journal of Research in Computer Application & Mana; Oct2013, Vol. 2 Issue 10, p78.
[14]
Uppal, R. K. (2010). Customer complaints in banks: Nature, extent and strategies to mitigation. Journal of Economics and International Finance, 10, 212-220.
Open Science Scholarly Journals
Open Science is a peer-reviewed platform, the journals of which cover a wide range of academic disciplines and serve the world's research and scholarly communities. Upon acceptance, Open Science Journals will be immediately and permanently free for everyone to read and download.
CONTACT US
Office Address:
228 Park Ave., S#45956, New York, NY 10003
Phone: +(001)(347)535 0661
E-mail:
LET'S GET IN TOUCH
Name
E-mail
Subject
Message
SEND MASSAGE
Copyright © 2013-, Open Science Publishers - All Rights Reserved