A Study on Customer Relationship Management Practices in Indian Banks With Special Reference to Chennai City

The banking landscape has undergone a paradigm shift from welfare oriented banking to profit oriented banking over a period of three decades. The deregulation has completely transformed a very complexion of commercial banks in the early nineties. Prior to deregulation syndrome, the customers were given short shrift in the social sector banking era. The customers were made to run from pillar to post to get an ordinary personal loan. Only those who can afford to offer security were made eligible for big ticket loans. The borrowers had to wait endlessly for various types of consumer loans. The customers in the current era of liberalized environment are enjoying the privilege of choosing their banks in terms of various considerations. The main objectives of the study is to examine the current customer relation strategies adopted in Indian Banks, to identify the deficiencies in the existing customer satisfaction variables which lead to Bridge the customers and the bank, to study the difference in perception of the customers of the bank toward various services provided by bank and to analysis the satisfaction level of customer services provided by the bank. The survey reveals that assenters are satisfied in most of the aspects and they want to continue with their respective banks. So now if the banks use proper strategies to overcome the shortcomings faced by customers, the banks can easily build a strong relationship and that will allow the bank to earn profit in the competitive environment.


Introduction
Customer Relationship Management is the process of managing detailed information about individual customers and carefully managing all the customer touch points. CRM is sound strategy to find out the most profitable customer and retain them by providing most valuable services. Over the few decades, the nature and scope of services provided so much. Modern technology can develop innovative customer solutions to attain growth and profitability within the frame work of sound risk-management practices. Recent development in critical area of IT, have changed the way the banks are managing their customer relationships. This study helps in understanding the perception of customers towards the bank's CRM strategies.

Objectives of the Study
In order to have a clear understanding on the customer Relationship Management in Indian Banks objectives are as follows.
• To evaluate the current customer relation strategies adopted in Indian banks Shanlax International Journal of Management s h a n l a x # S I N C E 1 9 9 0 • To find out the deficiencies in the existing customer satisfaction variables which lead to building relate with customers in Indian banks. • To study the difference in perception of the customers of the bank toward various services provided by banks. • To analysis the various satisfaction level of customer with respect to the basic services provided by the banks.

Scope of the Study
• The basic need for the study of CRM is collecting the data on the satisfaction level of the customers. • The study helps customers in being aware of the banking operation of Indian banks.
• To find what made people to choose this specified Bank especially. • Helps to improve in the place where they think they lack in diplomacy. • This study helps to provide necessary information required finding out the current position of the Bank and the scope is to better understand needs of expectation of consumers. The banking company is gaining a lot of important of India. The banking market shows stable growth and tough competition industry analysis say volumes have picked up in the country in the past 5 years with the entry of foreign banks. There is a sharp growth rate in the rural market as per the survey.

Research Methodology
The methodology includes collection of primary data, secondary data, sampling design and tools for analysis. The researcher has attempted to collect both the primary and secondary data as both data are vital to this study.

Sample Design
The present study is infinite; hence, it was decided to use Random sampling technique. Samples chosen are 120 assenters representing different status viz., businessmen, students, professional, employees, etc.

Statistical Tools used for the Study
The collected data were analysed with the help of various statistical measures such as percentage, weighted average ranking technique, Garrett' ranking technique and Chi-square test. It reveals the status of the assenters 67 (56 percent) assenters are private employees, 25 (21 percent) assenters are government employee, 15 (12 percent) are business people and 13 (11 percent) are students. It shows the distribution of assenters based on their monthly income. Out of 120assenters, 50 (41 percent) income is below Rs.10,000. 43 (36 percent) income earn is Rs.20,000, 14 (12 percent) earn Rs.20,000-50,000. and 13 (11 percent) earn above Rs.50,000. Total 120 100

Shanlax
International Journal of Management s h a n l a x # S I N C E 1 9 9 0 From the above table reveals that total 120 assenters, 38 (32 percent) assenters are having 1 to 3 years of relationship with the bank, 29 (24 percent) assenters have 5 to 10 years of relationship with the bank, 27 (22 percent) for 3 to 5 years, 14 (12 percent) assenters for a period of more than 10 years and the remaining 12 (10 percent) are having relationship with the bank for less than 1 year. From the above table reveals the 105 (88 percent) assenters savings account, 13 (11 percent) assenters current account and the remaining 2 (1 percent) Assenters maintain recurring account.
The below table inferred that 58 (49 %) assenters visit bank monthly, 30 (25 percent) assenters visit the bank situations required by, 25 (21 percent) assenters visit the bank on weekly basis and the remaining 7 (5 percent) assenters visit the bank fortnightly.  The above table is inferred that 90 (75 percent) assenters have account in less than 2 banks, 25 (21 percent) assenters have account in 2-4 banks and 5 (4 percent) assenters have account in more than 4 banks.

Shanlax
International Journal of Management s h a n l a x # S I N C E 1 9 9 0 It can be inferred from table, that is complaint and grievance handling procedures 'customer meeting' ranks first, 'grievance handling' ranks second, 'suggestion box' ranks third, 'redressal of complaints' ranks fourth and 'placement of suggestion box' ranks last.

Chi-Square Test
This is the formula used for the study.
(r -1) (c -1) degrees of freedom O = Observed frequency E = Expected frequency r = No. of rows in contingency table c = No. of columns in contingency table The calculated value χ 2 is compared with the table value of χ 2 , for a given level of significance, usually at 5 percent level. If at the stated level the calculated value is less than the table value, the null hypothesis is accepted. Otherwise, it is rejected.

Null Hypothesis
The null hypothesis is framed to find out whether the demographic factors of the assenters are independent of their level satisfaction. The above table analysis, it is seen that the calculated value is less than the table value and hence the null hypothesis is accepted. Thus, it is revealed the demographic factors like age, sex, education, occupation, and monthly income do not influence the satisfaction level of customer relationship management practices in commercial banks. e-mail and this ranks first in the information accessibility provided by the commercial banks. • In complaints and grievance handling procedures 'Customer meeting' ranks first and "Good grievance handling' the second rank.

Suggestion
The study reveals that the banks maintain a good relationship with customers in general, but they need to improve in certain areas, in order to improve their relationship with the customers by overcoming certain problems as given below:

Shanlax
International Journal of Management s h a n l a x # S I N C E 1 9 9 0 • The place where suggestion box kept is not easily identifiable. To overcome this, the banks should keep the suggestion box in the place where customers can identify very easily. • The interest rate should be displayed and updated in the notice board properly. • Modified interest rate should be displayed.
• The banks should take immediate action to redress the customer's complaints.

Conclusion
A Study on CRM and the service provided in Indian banks with special reference to Chennai. Reveals that assenters are satisfied in most of the aspects and they want to continue with their respective banks. So if the banks use proper strategies to overcome the shortcomings faced by customers, the banks can easily build a strong relationship and that will allow the bank to earn profit in the competitive environment.