Assessing Service Quality Dimensions of Public and Private Sector Banks in Indore – An Empirical Study

India is becoming one of the fastest growing banking markets in world due to various financial sector reforms, growth in the economy, rising foreign investments, favourable regulatory climate etc. This study evaluates the quality of service of public and private banks in the city of Indore from the perspective of the customer on the basis of framework of factors considered in early study of the public and private sector banks. Results of the pilot study explored eight factors namely security, empathy, services, and reliability, responsive, tangibles, accessible, considerate. Factors identified were further analyzed by applying Analysis of Variance (Anova). For measuring Service quality scale of SERVQUAL (as proposed by Chase, et al., 2001) was slightly modified and the target groups were administered with a structured questionnaire containing 22 quality items. The implication of this study is to highlight the importance of improving the service quality delivered by banking industry for the customer satisfaction.