Banks play a role of considerable economic significance as intermediaries in mobilizing public savings and channel sing the flow of funds for productive purposes, keeping on the process of the economic growth of the country. Realizing the vital of the role of the banks in economic development, Government of India and Reserve Bank of India took several major initiatives after the country attained independence to gear the banking system to serve the national objective. The objective of this study why service quality is essential in banking sector and this study focused on comparative study between national and private banks. Retail banking is banking in which banking institutions execute transactions directly with consumers, rather than corporations or other banks. Services offered include transactional savings accounts, mortgages, personal loans, debit cards, and credit cards. Post liberalization, Indian banking sector which was traditionally dominated by public sector banks has become very competitive with the advent of private sector banks. In a new competitive scenario, service quality has become an important competitive tool.
Key words: Retail Banking, Service Quality, Customer Service, Banking, SERVQUAL, hospitals, assurance, reliability, responsiveness.
Hemant Kumar Shrotriya, Dr. George Thomas