Analysis of Factors Influencing Customer Perception towards Selection of Bank

The rapid development of the banking sector with strong competition has given a powerful push to traditional banking services in India. Banking sector with traditional banking services started providing innovative, value added financial services which adds value to customers satisfaction in terms of better quality of service offerings and at the same time enable the banks gain more competitive advantage over other competitors. This paper investigates the relative importance of the factors determining customer perception towards the selection of bank. The sample survey has been conducted in Navi Mumbai city. Data has been analyzed using descriptive statistics, factor analysis and t-test. The present study shows that some factors highly influence the customers' choice of banks. The present research paper concludes that customer perception becomes an important phenomenon in the banking industry so various measures should be put in place to ensure more customer satisfaction by providing innovative and timely availability of product and services so as to increase efficiency of banking sector.