Customer is King

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Tags: Gandhi service consumer
"A customer is the most important visitor on our premises. he is not
dependent on us. We are dependent on him. He is not an interruption in
our work. He is the purpose of it. He is not an outsider in our business.
He is part of it. We are not doing him a favor by serving him. He is doing
us a favor by giving us an opportunity to do so."-Mahatma Gandhi
 Privacy Policy
Your privacy is important to Axis Bank. This is why, as a member of Axis Bank, we are committed to
the Axis Bank Privacy Promise for Consumers, which is as follows:

Axis Bank Privacy Promise for Consumers

While information is the cornerstone of our ability to provide superior service, our most important
asset is our customers' trust. Keeping customer information secure, and using it only as our
customers would want us to, is a top priority for all of us at Axis Bank. Here then, is our promise to
our individual customers:

• We will safeguard, according to strict standards of security and confidentiality, any information our
customers share with us.
• We will limit the collection and use of customer information to the minimum we require to deliver
superior service to our customers, which includes advising our customers about our products,
services and other opportunities, and to administer our business.
• We will permit only authorized employees, who are trained in the proper handling of customer
information, to have access to that information. Employees who violate our Privacy Promise will be
subject to our normal disciplinary process.
• We will not reveal customer information to any external organization unless we have previously
informed the customer in disclosures or agreements, have been authorized by the customer, or are
required by law.
• We will always maintain control over the confidentiality of our customer information. We may,
however, facilitate relevant offers from reputable companies. These companies are not permitted to
retain any customer information unless the customer has specifically expressed interest in their
products or services.
• We will tell customers in plain language initially, and at least once annually, how they may remove
their names from marketing lists. At any time, customers can contact us to remove their names
from such lists.
• Whenever we hire other organizations to provide support services, we will require them to conform
to our privacy standards and to allow us to audit them for compliance.
• For purposes of credit reporting, verification and risk management, we will exchange information
about our customers with reputable reference sources and clearinghouse services.
• We will not use or share - internally or externally - personally identifiable medical information for
any purpose other than the underwriting or administration of a customer's policy, claim or account,
or as disclosed to the customer when the information is collected, or to which the customer
consents.
• We will attempt to keep customer files complete, up-to-date, and accurate. We will tell our
customers how and where to conveniently access their account information (except when we're
prohibited by law) and how to notify us about errors which we will promptly correct.

We will continuously assess ourselves to ensure that customer privacy is respected. We will conduct
our business in a manner that fulfills our Promise in the many nations in which we do business.

1. Objective 
o To study the satisfaction level of consumers of three chosen banks. 
o To identify the perception of consumer about their banks with comparison to other banks. 
o Recommendations to increase customer satisfaction level. 
2. Research Methodology 
 o Descriptive Research. 
o Primarily based on Primary Data collection. 
o Follow Questionnaire method. 
o Quantitative Research. 
o Non Probabilistic­ convenience sampling 
3. Secondary Data 
o Sonia Billore’ had done a ‘ comparative study of Indian and Japanese consumers of banking sector’ in 
May 2007. Her objective was to discuss the consumer behaviour, using secondary data, with regard to 
the savings attitude of Japanese and Indian consumers. She founds that service quality is understood 
in terms of ‘friendliness’ of the bank and ‘timeliness’ with which the problems may be solved by a 
knowledgeable service provider. 
4.
o Lam Siew Yong and Jamil Bojei in 2007 done a study on ‘relationship of service quality, satisfaction 
and trust with customers and commitment towards their personal banks in Malaysia. Their objective 
was to assess the relative contributions of service quality (technical and functional quality), satisfaction 
and trust in shaping bank­clients relationship commitment. They concluded that banks could gain 
customer satisfaction and trust by attending both the technical (tangibles) and functional (human 
interaction) aspects of their service management. 
5.
o The survey conducted by FICCI asked the respondents (bankers) to rank their business strategies that 
have helped them in increased customer acquisition and retention. Technological up gradation was 
clearly identified as one of the most successful strategy in Customer Acquisition and Retention 
followed by Expansion of ATM Network, Advertisements and additional sales force 
6. Cross­sectional Study 
o I have analyzed current situation of customers at a given period. The whole research was done in a 
limited and short time. 
7. Sampling 
o Sampling Unit: The sampling units selected were all above 18 years of age with diverse socio­ 
economic background. 
o Sampling Technique : Samples were selected by way of convenient sampling and questions were 
asked to the respondents when they were coming out of their respective banks after availing the 
services there. 
8. Sample Size 
o Sample Size: A total sample size of 120 was selected which had the following break up: 
o AXIS bank customers: 40