Retail Banking Services in Gorakhpur District: Performance of Allahabad Bank Vis-À-Vis HDFC Bank: An Empirical Study

Abstract

Retail Banking, also known as consumer banking is the provision of services by a bank to individual consumers, rather than to companies, corporations or other banks services offered include savings and transactional accounts, mortgages, personal loans, debit cards and cards. Today retail banking is being considered as one of the most innovative financial services provided by the various commercial Public sector Banks (PSBs) Private sector and Foreign banks. This paper attempts to highlights the feedback of borrowers/executive of banks regarding popularity and suitability of retail banking products their satisfaction, problem faced by them in getting the loan sanctioned from the bank, co-operation extended by bank’s officials/employees, and for this a sample of 250 respondents has been taken on the basis of convenience sampling. Out of 250 respondents, 50 are bank officials (25 from Allahabad Bank and 25 from HDFC) and rest 200 respondents are borrowers of retail advances of Allahabad Bank & HDFC Bank both. Among 200 borrowers selected as sample 100 are form Allahabad Bank and balancing 100 are among the borrowers who have taken retail advances from HDFC in Gorakhpur.