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A
TERM PAPER
ON
“CUSTOMER SATISFACTION AT
PUNJAB NATIONAL BANK ”
Submitted in partial fulfillment for the award of
Degree of
Master of Business Administration
Department of Management StudiesJai Narain Vyas University, Jodhpur
(2011-2012)
Under the supervision of: Submitted by:Dr. Meeta Nihalani AMARJEET KAUR (Head of Department) MBA II Semester Dept. Of Management Studies
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ACKNOWLEDGEMENT
With regard to my term paper with “Customer Satisfaction at Punjab
National Bank” I would like to thank each and every one who offered
help, guideline and support whenever required.
I am extremely grateful to my supervisor, Dr. (Mrs.)Meeta
Nihalani, Head of Department for their valuable guidance and timely
suggestions and for providing me this opportunity, and all faculty members
of DEPARTMENT OF MANAGEMENT STUDIES, JODHPUR for the
valuable guidance& support.
I would also like to extend my thanks to all the respondents
who invested their valuable time in my study and my family and friends
for their support.
Amarjeet Kaur
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CERTIFICATE
DEPARTMENT OF MANAGEMENT STUDIES
JAI NARAIN VYAS UNIVERSITY, JODHPUR
This is to certify that Miss. Amarjeet kaur student of
Department of Management Studies, Jodhpur, has
completed project work on “CUSTOMER SATISFACTION AT
PUNJAB NATIONAL BANK IN JODHPUR” under my guidance
and supervision.
I certify that this is an original work and has not been copied
from any source.
Signature of Supervisor
Dr. (Mrs.) Meeta Nihalani
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INTRODUCTION
Punjab National Bank of India, the first Indian bank started only withIndian capital, was nationalized in July 1969 and currently the bank has
become a front-line banking institution in India with 4525 Offices including432 Extension Counters. The corporate office of the bank is at New Delhi.Punjab National Bank of India has set up representative offices at Almaty(Kazakhistan), Shanghai (China) and in London and a full fledged Branch inKabul (Afghanistan).
Punjab National Bank with 4497 offices and the largest nationalized bank is
serving its 3.5 crore customers with the following wide variety of bankingservices:
• Corporate banking• Personal banking• Industrial finance• Agricultural finance• Financing of trade• International banking
Punjab National Bank has been ranked 38th amongst top 500 companies byThe Economic Times. PNB has earned 9th position among top 50 trusted
brands in India.
Punjab National Bank India maintains relationship with more than 200leading international banks world wide. PNB India has Rupee DrawingArrangements with 15 exchange companies in UAE and 1 in Singapore.
1.1 HISTORY OF THE BANK
Punjab National Bank (PNB) was registered on May 19, 1894 under theIndian Companies Act with its office in Anarkali Bazaar Lahore. The Bank is the second largest government-owned commercial bank in India withabout 4,500 branches across 764 cities. It serves over 37 million customers.The bank has been ranked 248th biggest bank in the world by Bankers
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Almanac, London. The bank's total assets for financial year 2007 were aboutUS$60 billion. PNB has a banking subsidiary in the UK, as well as branchesin Hong Kong and Kabul, and representative offices in Almaty, Dubai, Oslo,and Shanghai.
• 1895: PNB commenced its operations in Lahore. PNB has thedistinction of being the first Indian bank to have been started solelywith Indian capital that has survived to the present. (The first entirelyIndian bank, the Ouch Commercial Bank, was established in 1881 inFaizabad, but failed in 1958.) PNB's founders included several leadersof the Swadeshi movement such as Dyal Singh Majithia and LalaHarKishen Lal,[1] Lala Lalchand, Shri Kali Prosanna Roy, Shri E.C.Jessawala, Shri Prabhu Dayal, Bakshi Jaishi Ram, and Lala DholanDass. Lala Lajpat Rai was actively associated with the management of
the Bank in its early years.• 1904: PNB established branches in Karachi and Peshawar.• 1940: PNB absorbed Bhagwan Dass Bank, a scheduled bank located
in Delhi circle.• 1947: Partition of India and Pakistan at Independence. PNB lost its
premises in Lahore, but continued to operate in Pakistan.• 1951: PNB acquired the 39 branches of Bharat Bank (est. 1942);
Bharat Bank became Bharat Nidhi Ltd.• 1961: PNB acquired Universal Bank of India.• 1963: The Government of Burma nationalized PNB's branch in
Rangoon (Yangon).• September 1965: After the Indo-Pak war the government of Pakistan
seized all the offices in Pakistan of Indian banks, including PNB'shead office, which may have moved to Karachi. PNB also had one or more branches in East Pakistan (Bangladesh).
• 1960s: PNB amalgamated Indo Commercial Bank (est. 1933) in arescue.
• 1969: The Government of India (GOI) nationalized PNB and 13 other major commercial banks, on July 19, 1969.
• 1976 or 1978: PNB opened a branch in London.• 1986 The Reserve Bank of India required PNB to transfer its London
branch to State Bank of India after the branch was involved in a fraudscandal.
• 1986: PNB acquired Hindustan Commercial Bank (est. 1943) in arescue. The acquisition added Hindustan's 142 branches to PNB'snetwork.
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• 1993: PNB acquired New Bank of India, which the GOI hadnationalized in 1980.
• 1998: PNB set up a representative office in Almaty, Kazakhstan.• 2003: PNB took over Nedungadi Bank, the oldest private sector bank
in Kerala. Rao Bahadur T.M. Appu Nedungadi, author of Kundalatha,one of the earliest novels in Malayalam, had established the bank in1899. It was incorporated in 1913, and in 1965 had acquired selectedassets and deposits of the Coimbatore National Bank. At the time of the merger with PNB, Nedungadi Bank's shares had zero value, withthe result that its shareholders received no payment for their shares.
PNB also opened a representative office in London.
• 2004: PNB established a branch in Kabul, Afghanistan.
PNB also opened a representative office in Shanghai.PNB established an alliance with Everest Bank in Nepal that permitsmigrants to transfer funds easily between India and Everest Bank's 12
branches in Nepal.
• 2005: PNB opened a representative office in Dubai.• 2007: PNB established PNBIL - Punjab National Bank (International)
- in the UK, with two offices, one in London, and one in South Hall.Since then it has opened a third branch in Leicester, and is planning a
fourth in Birmingham. Gatin Gupta became Chairmen of Punjab National Bank.
• 2008: PNB opened a branch in Hong Kong.• 2009: PNB opened a representative office in Oslo, Norway.
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1.2 ACHIEVEMENTS
• Punjab National Bank announced its Q1FY2010 results on 29 July2009, delivering 62% y-o-y growth in net profits to Rs832 crore
(Rs512cr), substantially ahead of expectations on account of largetreasury gains, apart from healthy operating performance.
• While the bank’s deposit growth was reasonably robust at 4.4%sequentially and 26.5% y-o-y, unlike the peers its growth inadvances also remained strong at 38% y-o-y.
• In spite of being at the forefront of PLR cuts, the bank posted a
healthy growth in Net Interest Income (NII) of 29% y-o-y.
• Other Income surged 113% y-o-y, driven by strong treasury gainsof Rs355 crore during the quarter in line with industry trends, evenas Fee income was also robust at 45% y-o-y, on the back of strong
balance sheet growth.
• Operating expenses were higher than expected on account of
Rs150 crore of provisions for imminent wage hikes.
• Gross and Net NPA ratios remained stable sequentially at 1.8%and 0.2%, with the bank not adopting the guidelines of treatingfloating provisions as part of tier 2 capital instead of adjustingagainst NPAs on express permission from the RBI.
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1.3 VISION AND MISSION
Vision
• To evolve and position the bank as a world class, progressive, costeffective and customer friendly institution providingcomprehensive financial and related services.
• Integrating frontiers of technology and serving various segments of society especially weaker section.
• Commited to excellence in serving the public and also excelling incorporate values
Mission
•
To provide excellent professional services and improve its positionas a leader in financial and related services.
• Build and maintain a team of motivated workforce with high work ethos.
•Use latest technology aimed at customer satisfaction and act as aneffective catalyst for socio economic development.
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VALUES AND ETHICS
• Bonding and Integrity
• Ethical conduct
• Periodic disclosure
•
Confidentiality and fair dealing
• Compliance with rules and regulations
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SWOT ANALYSIS
STRENGTH
Wide network
Large number of customers
Fast adaptability to technology
Brand image
WEAKNESS
Casual behaviour
Corruption and red tapism
Slow decision making due to large hierarchy
High gross NPA
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OPPORTUNITIES
Home to home banking services
Diversification towards other fields
Globalization
THREATS
Stiff competition from SBI and other private players.
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What Do Customers Want?
Before we begin to create tools to measure the level of satisfaction, it is
important to develop a clear understanding of what exactly the customer
wants. We need to know what our customers expect from the products and
services we provide.
Customer expectations have two types –
Expressed
Implied
Expressed Customer Expectations are those requirements that are written
down n the contract and agreed upon by both parties for example, product
specifications and delivery requirements. Supplier’s performance against
these requirements is most of the items directly measurable.
Implied Customer Expectations are not written or spoken but are the ones
the customer would ‘expect’ the supplier to meet nevertheless. For example,
a customer would expect the service representative who calls on him to be
knowledgeable and competent to solve a problem on the spot.
There are many reasons why customer expectations are likely to change
overtime. Process improvements, advent of new technology, changes in
customer’s priorities, improved quality of service provided by competitors
are just a few examples.
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The customer is always right. Supplier’s job is to provide the customer what
he/she wants, when he/she wants it. Customer satisfaction is customer’s
perception that a supplier has met or exceeded their expectations.
Major Attributes of customer satisfaction in banking industry can be
summarized as:
Product quality
Premium Outflow
Return on Investment
Services
Responsiveness and ability to resolve complaints and reject reports.
Overall communication, accessibility and attitude.
WHAT ARE THE TOOLS?
Customer expectations can be identified using various methods such as: Periodic contract reviews
Market research
Telephonic interviews
Personal visits
Warranty records
Informal discussions
Satisfaction surveys
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Depending upon the customer base and available resources, we can
choose a method that is most effective in measuring the customer’s
perceptions. The purpose of the exercise is to identify priorities for
improvements. We must develop a method or combination of methods that
helps to continually improve service.
CUSTOMER SATISFACTION SURVEYS
Formal survey has emerged as by far the best method of periodically the
customer satisfaction. The survey are not marketing tools but an information
—gaining tool. Enough homework needs to be before embarking on the
actual survey. This includes:
Defining Objectives of the Survey
Design Survey approach
Develop questionnaires and forms
Administer Survey (Email, Telephone or Post)
Method of compiling data and analyzing the findings
Format of the report to present the findings
There is no point in asking irrelevant questions on a customer satisfaction
questionnaire. The basic purpose is to find out what we are doing right or
wrong. Where is the scope for improvement, where do we stand vis-à-vis
other suppliers. How we can serve the customer better?
A customer satisfaction measurement survey should at least identify the
following objectives:
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Importance to customers (Customers priorities)
Customer’s perception of supplier’s performance
Your performance relative to customer’s priorities.
Priorities for improvement
Survey forms should be easy to fill out with minimum amount of time
and efforts on customer’s part. They should be designed to actively
encourage the customer to complete the questions. Yet they must provide
accurate data should also be sufficiently reliable for management decision
making. This can be achieved by incorporating objective type questions
where customer has to “rate” on scale of say 1 to 10. For repeated surveys,
you could provide the rating that was previously accorded by the customer.
This works like a reference point for the customer.
SCOPE OF THE STUDY
This study is limited to the consumers with in Jodhpur city. The study
will be able to reveal the preferences, needs, satisfaction of the customers
regarding the banking services, It also help banks to know whether the
existing products or services the are offering are really satisfying the
customers needs.
OBJECTIVE OF THE STUDY
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To have an insight into the attitudes and behaviors of customers.
To find out the differences among perceived service and expected
service.
To produce an executive service report to upgrade service
characteristics.
To understand consumer’s preferences.
To access the degree of satisfaction of the consumers
RESEARCH METHODOLOGY
To know the response, the researcher used questionnaire method. It
has been designed as a primary research instrument. Questionnaires were
distributed to respondents and they were asked to answer the questions given
in the questionnaire.
The questionnaires were used as an instrumentation technique,
because it is an important method of data collection. The success of the
questionnaire method in collecting the information depends largely on
proper drafting. So in the present study questions were arranged and
interconnected logically. The structured questionnaire will reduce both
interviewers and interpreters bias.
Research Design
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Secondary data- The secondary information was collected from the
published Sources such as Journals, Newspapers and Magazines and
websites...
Two types of secondary data were collected for the preparation of the project
work:
Internal Data was generated from company’s brochures, manuals and
annual reports
External Data, on the other hand, was generated from magazines, research
books, intranet and internet (websites).
Research instruments - A summated rating scale format was used, with
five choices per item ranging from "highly dissatisfied” to "highly satisfied.
In this all the questions were positively framed to study the impact of
independent variable like age, gender and education on the dependent
variable which is student development through knowledge.
Analysis of Data - All the data collected from the respondents was feeded
and tabulated and the analysis was done through the software of SPSS
version 16...
Research period - The research period of the study has from April 28, 2011
to May 25, 2011
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Hypothesis
Null hypothesis
H101: There is no significant difference about facilities provided by the
banks and customer satisfaction amongst customers classified by age
coming to the banks of Jodhpur.
H1a1: There is significant difference about the facilities provided by the
banks and customer satisfaction amongst customers classified by age
coming to the banks of Jodhpur
H102: There is no significant difference about facilities provided by the bank
and customer satisfaction amongst customers classified by gender
coming to the banks of Jodhpur.
H1a2: There is significant difference about the facilities provided by the
bank and the and customer satisfaction amongst customers classified
by gender coming to the banks of Jodhpur
H103: There is no significant difference about facilities provided by the
banks and customer satisfaction amongst customers classified by
occupation coming to the banks of Jodhpur.
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H1a3: There is significant difference about the facilities provided by the
bank and the and customer satisfaction amongst customers classified
by occupation coming to the banks of Jodhpur
Data analysis
1. Anova Linearity and Non-Linearity Test:-
Aim here is to find how Total Satisfaction varies in accordance to
change in each dimension, linearly or non-linearly, here both are scale
variables dependent and independent variable.
• The test for linearity if has a significance value smaller than 0.05,
indicates that there is a linear relationship.
• The test for deviation from linearity if has a significance value
smaller than 0.05, indicates that there is a non-linear relationship.
• If both relationships are present and if R 2<ETA2 it means non-linear
relationship exists.
2. One way Robust analysis of Variance:
• In the test for homogeneity of variance, if the significance value is
less than 0.05 than Welch and Brown-Forsythe is to be checked for
group difference, if significant value there is less than 0.05 then
Tamhane Post-hoc comparison for individual group difference will
be checked if it show significant value less than 0.05 than the
individual groups differs.
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• Now, if in the test for homogeneity of variance, if the significance
value is more than 0.05 than simply One way anova table will be
checked, if there the significant value is less than 0.05 then Tukey
HSD Post-hoc comparison for individual group difference will be
checked if it show significant value less than 0.05 than the
individual group differs.
• It is mandatory to look for test for homogeneity of variance only
when the group is of nearly equal size. Welch test is more accurate
than Brown-Forsythe test hence it would be given priority during
analysis. For all those independent variables where homogeneity
constraints was satisfied Tukey table for Post hoc comparison is
shown and where robust estimates of Welch and Brown-Forsythe
are looked, there Tamhane table for Post hoc comparison is shown
(Monday, Klein, Lee, 2005).
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(A) Descriptive statistics:Age
Frequency Percent Valid Percent Cumulative
Percent
Valid 20 to 30 54 54.0 54.0 54.0
30 to 40 36 36.0 36.0 90.0
above 40 10 10.0 10.0 100.0
Total 100 100.0 100.0Gender
Frequency Percent Valid Percent Cumulative
Percent
Valid male 50 50.0 50.0 50.0
female 50 50.0 50.0 100.0
Total 100 100.0 100.0
Qualification
Frequency Percent Valid Percent Cumulative
Percent
Valid under graduate 35 35.0 35.0 35.0
graduate 53 53.0 53.0 88.0
post graduate 12 12.0 12.0 100.0
Total 100 100.0 100.0
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Provide_service_immediately
Frequency Percent Valid Percent
Cumulative
Percent
Valid Strongly Dissatisfied 8 8.0 8.0 8.0Dissatisfied 24 24.0 24.0 32.0
Neutral 27 27.0 27.0 59.0
Agree 33 33.0 33.0 92.0
Strongly Agree 8 8.0 8.0 100.0
Total 100 100.0 100.0
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Avail_with_zero_bal
Frequency Percent Valid Percent Cumulative
Percent
Valid Strongly Dissatisfied 4 4.0 4.0 4.0
Dissatisfied 16 16.0 16.0 20.0
Neutral 46 46.0 46.0 66.0
Agree 24 24.0 24.0 90.0
Strongly Agree 10 10.0 10.0 100.0
total 100 100.0 100.0
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Easily_approachable
Frequency Percent Valid Percent Cumulative
Percent
Valid Strongly Dissatisfied 6 6.0 6.0 6.0Dissatisfied 18 18.0 18.0 24.0
Neutral 27 27.0 27.0 51.0
Agree 29 29.0 29.0 80.0
Strongly Agree 20 20.0 20.0 100.0
Total 100 100.0 100.0
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Continue_with_this_bank
Frequency Percent Valid Percent
Cumulative
Percent
Valid Strongly Dissatisfied 16 16.0 16.0 16.0Dissatisfied 18 18.0 18.0 34.0
Neutral 28 28.0 28.0 62.0
Agree 31 31.0 31.0 93.0
Strongly Agree 7 7.0 7.0 100.0Total 100 100.0 100.0
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satisfied_with_facilities_and_services
Frequency Percent Valid PercentCumulative
Percent
Valid StronglyDissatisfied
8 8.0 8.0 8.0
Dissatisfied 14 14.0 14.0 22.0
Neutral 36 36.0 36.0 58.0
Agree 32 32.0 32.0 90.0
Strongly Agree 10 10.0 10.0 100.0
Total 100 100.0 100.0
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(B) Inferential statistics
Part -1:
One Way Anova of total satisfaction by age
Test of Homogeneity of Variances
Total satisfaction
Levene Statistic df1 df2 Sig.
1.540 2 97 .220
ANOVA
Total satisfaction
Sum of
Squares df Mean Square F Sig.
Between
Groups148.745 2 74.373 5.226 .007
Within Groups 1380.415 97 14.231
Total 1529.160 99
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Robust Tests of Equality of Means
Total satisfaction
Statistica df1 df2 Sig.
Welch 9.947 2 31.679 .000
Brown-Forsythe7.223 2 75.389 .001
a. Asymptotically F distributed.
Post Hoc Tests
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Multiple Comparisons
Dependent Variable: Total
satisfaction
(I) Age (J) Age
Mean
Difference
(I-J)
Std.
Error Sig.
95% Confidence
Interval
Lower
Bound
Upper
Bound
Tamhan
e
20 to
30
30 to
401.481 .809 .197 -.49 3.45
above
40-2.763* .931 .022 -5.18 -.35
30 to
40
20 to
30-1.481 .809 .197 -3.45 .49
above
40-4.244* .943 .001 -6.69 -1.80
above
40
20 to
302.763* .931 .022 .35 5.18
30 to
404.244* .943 .001 1.80 6.69
*. The mean difference is significant at the
0.05 level.
Analysis: Groups are of nearly equal sizes (from descriptive), Homogeneityof variance shows ‘non-significant’ value, with anova table showing
significant value, hence Tamhane Post Hoc test is requested. 20-30 age
groups have significant lower satisfaction level than 30-40 & 40 and above
age groups.
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Part -2
One Way ANOVA of total satisfaction by gender
Test of Homogeneity of Variances
Total satisfaction
Levene Statistic df1 df2 Sig.
4.958 1 98 .028
ANOVA
Total satisfaction
Sum of Squares df Mean Square F Sig.
BetweenGroups 29.160 1 29.160 1.905 .171
Within Groups 1500.000 98 15.306
Total 1529.160 99
Robust Tests of Equality of Means
Total satisfaction
Statistica df1 df2 Sig.
Welch 1.905 1 88.121 .171
Brown-Forsythe1.905 1 88.121 .171
Analysis: Groups are of unequal sizes (from descriptive), we therefore
directly look at Welch and Brown-Forsythe test, and it shows significant
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value hence satisfaction differs in gender group. Male is having high
satisfaction than female (from descriptive).
Part -3
One Way ANOVA of total satisfaction by education
Toal_satisfactionLevene Statistic df1 df2 Sig.
2.290 2 97 .107
ANOVA
Total satisfaction
Sum of
Squares df Mean Square F Sig.BetweenGroups
115.727 2 57.864 3.971 .022
Within Groups 1413.433 97 14.571
Total 1529.160 99
Robust Tests of Equality of Means
Total satisfactionStatistica df1 df2 Sig.
Welch 3.563 2 43.198 .037
Brown-Forsythe 5.372 2 83.972 .006
a. Asymptotically F distributed.
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Post Hoc Tests
Multiple Comparisons
Dependent Variable:Total_satisfaction
(I)Qualification
(J)Qualification
MeanDifferenc
e (I-J)Std.
Error Sig.
95% ConfidenceInterval
Lower Bound
Upper Bound
Tamhane
under graduate
graduate -2.336* .874 .028 -4.47 -.20
postgraduate
-1.657 .897 .201 -3.89 .58
graduate under
graduate2.336* .874 .028 .20 4.47
postgraduate
.679 .792 .781 -1.31 2.67
postgraduate
under graduate
1.657 .897 .201 -.58 3.89
graduate -.679 .792 .781 -2.67 1.31
*. The mean difference is significant atthe 0.05 level.
Analysis: Groups are of unequal size, we therefore directly look at Welch
and Brown-Forsythe test, and it shows significant value, hence Tamhane
Post Hoc test is requested. Graduate education group has significant lower
satisfaction level than post graduate and above post graduate education
group.
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Part 4
T-Test
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One-Sample Statistics
N Mean Std. DeviationStd. Error
Mean
Provide_service_immedi
ately 100 3.09 1.102 .110Avail_with_zero_bal 100 3.20 .964 .096
Easily_approachable 100 3.39 1.171 .117
Continue_with_this_bank
100 2.95 1.192 .119
satisfied_with_facilities_ and_services
100 3.22 1.069 .107
Responsible_for_tasks__
services_its_customers
100 3.41 1.240 .124
Proper_records_of_all_tr ansactions
100 3.54 1.123 .112
Treat_u_politely 100 2.86 1.137 .114
Employees_perform_their_duty_on_time
100 3.27 1.109 .111
fulfil_ur_reqirement 100 3.13 1.089 .109
Communication_skill_ar e_important
100 3.72 .965 .096
Toal_satisfaction 100 35.78 3.930 .393
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One-Sample Test
Test Value = 2.75
t df Sig. (2-tailed)
MeanDifferenc
e
95% ConfidenceInterval of the
DifferenceLower Upper
Provide_service_ immediately
3.086 99 .003 .340 .12 .56
Avail_with_zero _bal
4.668 99 .000 .450 .26 .64
Easily_approacha ble
5.465 99 .000 .640 .41 .87
Continue_with_this_bank 1.677 99 .097 .200 -.04 .44
satisfied_with_facilities_and_services
4.396 99 .000 .470 .26 .68
Responsible_for_ tasks__services_its_customers
5.323 99 .000 .660 .41 .91
Proper_records_o
f_all_transactions
7.035 99 .000 .790 .57 1.01
Treat_u_politely -.967 99 .336 .110 -.12 .34
Employees_perform_their_duty_on_time
4.690 99 .000 .520 .30 .74
fulfil_ur_reqirement
3.491 99 .001 .380 .16 .60
Communication_ skill_are_importa
nt
10.054 99 .000 .970 .78 1.16
Toal_satisfaction 84.043 99 .000 33.030 32.25 33.81
Analysis: Factors number 8 having negative significant value that is bank
must be treat politely to customers so that they satisfied to this bank.
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8/6/2019 PNB Term Paper
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CONCLUSION:
The project entitled “A STUDY TO UNDERSTAND THE
CUSTOMER SATISFACTION AT PNB”has helped me in studying
satisfaction about services and products offered to consumers.
Since the opening up of the banking sector, private banks are in
the fray each one trying to cover more market share than the other.
Yet, PNB is far behind SBI. PNB must also be alert what with
Private Banks (ICICI, HDFC) breathing down its neck.
I am sure the bank will find my findings relevant and I sincerely
hope it uses my suggestions enlisted, which I hope will take them
miles ahead of competition.
In short, I would like to say that the very act of the concerned
management at PNB in giving me the job of critically examining
consumer satisfaction towards financial products and services of the
company is a step in their continual mission of making all round
improvements as a means of progress.
I am sure the bank has a very bright future to look forward to
and will be a trailblazer in its own right.
8/6/2019 PNB Term Paper
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References:
1. Reference by: Times of India
2. www.pnb.com