Banking Service in Rural Areas- Demographic Profile of Tamilnadu

Selvaraj N^*
*Correspondence: Selvaraj N, Assistant Professor of Commerce, Saraswathi Narayanan College, Madurai, India, Tel: + 919843727975, Email:

Keywords

Banks • Customers • Development • Trendy business and client angle

Introduction

“Banking in India has witnessed a shift over the last 20 years. Banks in India have currently accepted social responsibility and area unit creating innovations in banking. Banks have currently become active agents of economic development”. The non-public and therefore the public banks play an important role within the Indian economy. It’s an essential establishment within the trendy society. The non-public sector and therefore the public sector banks grant each direct and indirect advance for all the agricultural and allied operations and therefore the industrial activities. It offers totally different innovative schemes to the purchasers. It adopts totally different promoting techniques to plug its product and services.

Statement of the Matter

A bank is an establishment that deals with cash and credit. For a typical man, a bank suggests that a store house of cash, for a businessperson it's an establishment of finance and for on a daily basis to day client it's a facility for his savings. Really banks area unit business organizations commercialism bank services. Banks play an important role to serve the individuals and improve the economy of any country. Banks hold the savings of the general public give a method of payment permanently and services and finance development of the business and trade. So banks act as a negotiator within the flow of funds from server to users. Therefore, banks ought to render AN economical client service, to retain the current customers and additionally to draw in potential customers. It’s imperative to integrate the promoting of banking services and customers’ expectations however additionally evaluating ways that and suggests that to improvise the banking services supported the customers’ perceptions on the angle towards the service system of the banks. This study analyses such a drag. Thus the study was undertaken to know the varied factors in terms of promoting of banking services in Tamilnadu.

Objectives of the Study

The confined objectives of the current study are: 1. To check the demographic profile of the respondents. 2. To supply suggestions for improvement of banking services on the premise of findings of the study.

Period of the Study

The period of the study ranges from Sept 2018 to Sept 2019.

Methodology

Research methodology may be scientific and systematic thanks to solve analysis issues. The analysis methodology deals with analysis strategies and brought into thought the logic behind the strategies. In total, the analysis methodology of the study includes analysis style, sampling framework, knowledge assortment, framework of study and limitations.

Sources of Information

The current study is totally supported the first knowledge. The secondary knowledge collected from the books, journals, magazines and websites were accustomed type the theoretical framework of the study and therefore the review of literature. The first knowledge was collected in person with the assistance of structured form.

Review of Literature

Ramachandra Rao B [1] conducted a study on, “Current Trends in Indian Banking”. per him, the bank of India and therefore the Ministry of Finance area unit least inclined to work call makes whether or not it's associated with intense management or to portfolio management and disposal. It’s learnt from the study that the choice manufacturers area unit to undertake the responsibility of developing new services.

Parthasarathi [2] there's invariably an exact level of expectations by the purchasers from the bank’s services. Wider the gap between the expected and actual service provided, the additional is that the client discontent. If the gap is incredibly slim, the shopper feels glad or proud of the bank. Hence, it's invariably necessary for the bank to bridge the gap between what the purchasers expect and what the banks supply. In fact, what the client wants and or gets is additional necessary than what bank is bothered the requirements and offers [3].

Descriptive Analysis

Descriptive analysis is a vital tool accustomed assesses the promoting of banking services in Taminadu. Because it is expressed in proportion, it facilitates comparison [4]. This analysis is administrated client angle towards services within the banks, deficiencies in banking services and improvement in banking services severally and appropriate charts were additionally drawn for hand-picked tables to facilitate the understanding of the reader [5]. Demographic Profile of Respondents Age wise classification of respondents in this study Age is classed into four, below thirty years, thirty to forty years, forty to fifty years and higher than fifty years. Finding out the promoting of Banking Services in Tamilnadu supported Age is crucial for this study. The distribution of respondents on the premise aged is shown (Table 1, Figure 1).

From then on top of table it may be seen that twenty one.2% of respondents area unit below thirty years, 50.7% of respondents area unit thirty to forty years, 15.4% of respondents area unit forty to fifty years and twelve.7% of respondents area unit on top of fifty years. This means that majority of the respondent’s area unit thirty to forty years. Gender wise classification of respondents in this study Gender is classed into 2, male and feminine. Finding out the selling of Banking Services in Tamilnadu supported Gender is needed for this study. The distribution of respondents on the idea of Gender is shown (Table 2, Figure 2).

From then on top of table it is seen that fifty one.3% of respondents area unit male and forty 8.7% of respondents area unit feminine. This means that majority of the respondent’s area unit male. Occupation wise classification of respondents in this study Occupation is assessed into eight, Government worker, non-public Sector worker, Business man, raiser, professionalist, Unemployed, retiree and freelance. Finding out the promoting of Banking Services in Tamilnadu supported Occupation is vital for this study. The distribution of respondents on the premise of Occupation is shown (Table 3, Figure 3).

From then on top of table it is seen that 11.2% of respondents are government worker, 10.9% of respondents are non-public sector worker, 18.9% of respondents are business man, 10.3% of respondents are sodbuster, V-J Day of respondents are professionalist, 8.2% of respondents are pink-slipped, 4.5% of respondents are retiree and 21.4% of respondents are self-used. This means that majority of the respondents are self-used. Literacy Level wise classification of respondents In this study accomplishment Level is assessed into four, Illiterate, Up to Higher Secondary, Graduate and skilled / Technical. Learning the promoting of Banking Services in Tamilnadu supported accomplishment Level is very important for this study. The distribution of respondents on the idea of accomplishment Level is shown (Table 4, Figure 4).

From then on top of table it is seen that 10.3% of respondents area unit Illiterate, 42.2% of respondents area unit up to higher secondary, 34.6% of respondents area unit graduate and 12.9% of respondents area unit professional/technical. This means that majority of the respondent’s area unit up to higher secondary. Marital Status wise classification of respondents in this study legal status is classed into 3, Married, Widow and unwedded. Finding out the promoting of Banking Services in Tamilnadu supported legal status is needed for this study. The distribution of respondents on the premise of legal status is shown (Table 5, Figure 5).

From the higher than table it are often seen that sixty 8.5% of respondents area unit married, 17 November of respondents area unit widow and 14.5% of respondents area unit meatless. This means that majority of the respondent’s area unit married. Family sort wise classification of respondents in this study, Family sort is assessed into 2, nuclear and joint. Finding out the selling of Banking Services in Tamilnadu supported Family sort is very important for this study. The distribution of respondents on the premise of Family sort is shown (Table 6, Figure 6).

From then on top of table it will be seen that seventy 5.8% of respondents area unit nuclear and twenty 4.2% of respondents area unit joint. This means that majority of the respondent’s area unit nuclear. Size of Family wise classification of respondents in this study Size of Family is classed into four, Up to a few members, four members, 5 members and on top of 5 members. Finding out the selling of Banking Services in Tamilnadu supported Size of Family is vital for this study. The distribution of respondents on the idea of Size of Family is shown (Table 7, Figure 7).

From then on top of table it will be seen that thirty 1.6% of respondents area unit up to 3 members, 51.2% of respondents area unit four members, 8.2% of respondents area unit 5 members and Sept. 11 of respondents area unit on top of 5 members. This means that majority of the respondent’s size of the family area unit four members. Monthly financial gain wise classification of respondents In this study, Monthly financial gain is assessed into four, Upto Rs.15000, Rs.15,001 to Rs. 25,000, Rs.25,001 to Rs.50,000 and on top of Rs. 50,000. Learning the promoting of Banking Services in Tamilnadu supported Monthly financial gain is vital for this study. The distribution of respondents on the premise of Monthly financial gain is shown (Table 8, Figure 8).

From the higher than table it may be seen that thirty 8.2% of respondents area unit Up to Rs.15000, 27.9% of respondents area unit Rs.15,001 to Rs. 25,000, 18.9% of respondents area unit Rs.25,001 to Rs.50,000 and 15 August 1945 of respondents area unit higher than Rs. 50,000. this means that majority of the respondents monthly financial gain area unit Up to Rs.15000. Type of Account wise classification of respondents In this study, kind of Account is classed into 2, bank account and accounting. Finding out the selling of Banking Services in Tamilnadu supported kind of Account is needed for this study. The distribution of respondents on the idea of kind of Account is shown (Table 9, Figure 9).

From the higher than table it may be seen that ninety 3.3% of respondents square measure bank account and 6.7% of respondents square measure accounting. This means that majority of the respondent’s square measure bank account. Term deposit in bank wise classification of respondents in this study, Term deposit in bank is assessed into 2, yes and no. finding out the selling of Banking Services in Tamilnadu supported Term deposit in bank is vital for this study. The distribution of respondents on the idea of Term deposit in bank is shown (Table 10, Figure 10).

From the higher than table it is seen that 53.9% of respondent’s square measure having term deposit in bank and 46.1% of respondents aren't having term deposit in bank. This means that majority of the respondent’s square measure having term deposit in bank. Type of term deposit wise classification of respondents in this study form of term deposit is classed into 3, fastened Deposit and continual Deposit. Finding out the selling of Banking Services in Tamilnadu supported form of term deposit is crucial for this study. The distribution of respondents on the premise of form of term deposit is shown (Table 11, Figure 11).

From then on top of table it is seen that one year of respondent’s kind of term deposit square measure fastened deposit and eighteen of respondent’s kind of term deposit square measure continual deposit. This means that majority of the respondent’s kind of term deposit square measure fastened deposit. Accounts control in banks wise classification of respondents in this study, Accounts control in banks is classed into 3, Nationalized Bank, Co-operative Bank and personal Bank. Learning the selling of Banking Services in Tamilnadu supported accounts control in banks is needed for this study. The distribution of respondents on the idea of Accounts control in banks is shown (Table 12, Figure 12).

From then on top of table it are often seen that 52.5% of respondents are having accounts in nationalized bank, 25.3% of respondents ar having accounts in co-operative bank and 32.2% of respondents are having accounts privately bank. this means that majority of the respondents are having accounts in nationalized bank. Relationship with banks wise classification of respondents In this study, Relationship with banks is assessed into 3, but three years, three five|to five} years and on top of 5 years. Finding out the promoting of Banking Services in Tamilnadu supported Relationship with banks is vital for this study. The distribution of respondents on the premise of Relationship with banks is shown within the (Table 13, Figure 13).

From the higher than table it are often seen that 32.2% of respondents are but three years, 36.2% of respondents are three to five years and 31.6% of respondents are higher than five year. This means that majority of the respondent’s relationship with banks are three to five years. Frequency of visit to banks wise classification of respondents in this study, Frequency of visit to banks is classed into four, Daily, Weekly, Fortnightly and Monthly. Learning the selling of Banking Services in Tamilnadu supported Frequency of visit to banks is very important for this study. The distribution of respondents on the idea of Frequency of visit to banks is shown within (Table 14, Figure 14).

From then on top of table it are often seen that 31.5% of respondents visit banks daily, 23.5% of respondents visit banks weekly, 11th of September of respondents visit banks fortnightly and 12 months of respondents visit banks monthly. This means that majority of the respondent’s frequency of visit to banks square measure monthly. Persons influencing the purchaser’s wise classification of respondents in this study Persons influencing the purchasers is assessed into 3, Friends, Relatives and Bank staff. Finding out the selling of Banking Services in Tamilnadu supported Persons influencing the purchasers is very important for this study. The distribution of respondents on the premise of Persons influencing the purchasers is shown (Table 15, Figure 15).

From the higher than table it may be seen that 32.4% of respondent’s area unit friends, 19.3% of respondents’ area unit relatives and forty eight.3% of respondent’s area unit bank workers. This means that majority of the respondents influenced by bank workers.

Findings

i. 21.2% of respondents area unit below thirty years, 50.7% of respondents area unit thirty to forty years, 15.4% of respondents area unit forty to fifty years and twelve.7% of respondents area unit higher than fifty years. This means that majority of the respondent’s area unit thirty to forty years. ii. 51.3% of respondents area unit male and forty eight.7% of respondents area unit feminine. This means that majority of the respondent’s area unit male. iii. 11.2% of respondents area unit government worker, 10.9% of respondents area unit non-public sector worker, 18.9% of respondents area unit business man, 10.3% of respondents area unit raiser, 15 August 1945 of respondents area unit professionalist, 8.2% of respondents area unit dismissed, 4.5% of respondents area unit non worker and twenty one.4% of respondents area unit self- utilized. This means that majority of the respondent’s area unit self-utilized. iv. 10.3% of respondents area unit Illiterate, 42.2% of respondents area unit up to higher secondary, 34.6% of respondents area unit graduate and twelve.9% of respondents area unit professional/technical. This means that majority of the respondent’s area unit unto higher secondary. v. 68.5% of respondents area unit married, 17 November of respondents area unit widow and fourteen.5% of respondents area unit single. This means that majority of the respondents’ area unit married. vi. 75.8% of respondents area unit nuclear and twenty four.2% of respondents area unit joint. This means that majority of the respondent’s area unit nuclear. vii. 31.6% of respondents area unit up to 3 members, 51.2% of respondents area unit four members, 8.2% of respondents area unit 5 members and Sept. 11 of respondents area unit higher than 5 members. This means that majority of the respondent’s size of the family area unit four members. viii. 38.2% of respondents area unit Upto Rs.15000, 27.9% of respondents area unit Rs.15,001 to Rs. 25,000, 18.9% of respondents area unit Rs.25,001 to Rs.50,000 and 15 August 1945 of respondents area unit higher than Rs. 50,000. This means that majority of the respondent’s monthly financial gain area unit Upto Rs.15000. ix. 93.3% of respondent’s area unit bank account and six.7% of respondent’s area unit accounting. This means that majority of the respondent’s area unit bank account. x. 53.9% of respondent’s area unit having term deposit in bank and forty six.1% of respondents don't seem to be having term deposit in bank. This means that majority of the respondent’s area unit having term deposit in bank. xi. one year of respondents kind of term deposit area unit fastened deposit and eighteen of respondents kind of term deposit area unit revenant deposit. This means that majority of the respondent’s kind of term deposit area unit fastened deposit. xii. 42.5% of respondents area unit having accounts in nationalized bank, 25.3% of respondents area unit having accounts in co-operative bank and thirty two.2% of respondents area unit having accounts privately bank. This means that majority of the respondent’s area unit having accounts in nationalized bank. xiii. 32.2% of respondents area unit but three years, 36.2% of respondents area unit three to five years and thirty one.6% of respondents area unit higher than five year. This means that majority of the respondent’s relationship with banks area unit three to five years. xiv. 31.5% of respondents visit banks daily, 23.5% of respondents visit banks weekly, Sept. 11 of respondents visit banks fortnightly and one year of respondents visit banks monthly. This means that majority of the respondent’s frequency of visit to banks area unit monthly. xv. 32.4% of respondents area unit friends, 19.3% of respondents area unit relatives and forty eight.3% of respondents area unit bank workers. This means that majority of the respondents influenced by bank workers.

Suggestions

Now-days, banking sector acts because the backbone of contemporary business. Development of any country principally depends upon the banking industry. A bank could be a financial organization that deals with deposits and advances and alternative connected services. It receives cash from people who need to save lots of within the style of deposits and it lends cash to people who would like it. The banking is one in every of the foremost essential and necessary elements of the human life. In current quicker mode peoples might not do correct transitions while not developing the right bank network. The banking industry in Asian country is dominated by nationalized banks. The performance of the banking sector is a lot of closely connected to the economy than maybe that of the other sector . supported the findings, the current study offers some suggestions to the bankers so as to boost the potency of the promoting of the banking services. 1. tho' the bankers area unit increasing the quantity of shoppers their rate of growth isn't satisfactory. So as to hide the population of the Taminadu, the bankers ought to take the mandatory steps to extend the quantity of shoppers within the Tamilnadu. 2. Ancient banks have introduced mobile technology to boost potency, continue with digital trends, and satisfy client demands. Digital transformation within the monetary services sphere has created vital progress, with most mobile banking apps containing essential options. 3. However, competitor banks create a big threat to ancient banks amid customers rising expectations for a direct and seamless user expertise. Within the digital age, customers can systematically price convenience and digital potency over loyalty to long monetary establishments. 4. The study confirms that there are a unit variations within the opinions on the services. The bank marketers showed promotional message, policy and communications ought to be tailored to the assorted segments, specifically to the agriculturists. 5. Monetary sector reforms motor-assisted spectacular development of the Indian industry. However within the recent international competitive surroundings, wherever it's serving to tremendous advancements with potency enhancements banking sector reforms in Asian country area unit complete. 6. Delivery of services to a client by a bank in his workplace or home mechanically could also be termed as e-banking. The standard, vary and worth of those e-services decide a bank’s competitive position within the business. 7. The banks ought to rent the services of anti-Cybercrime skilled to avoid cybercrime to require the responsibility of customer’s transactions. 8. A Security set up ought to embody reviewing intrusion detection systems, maintaining well-trained employees to handle any pc problems and shield the integrity of the info, and worker verification, as well as background checks if necessary bank ought to upgrade the system and network and increase the national wide information measure the mainframe host capability, server and therefore the main frame storage capability to support the growing demand of shoppers. 9. Banks ought to make sure that on-line banking is safe and secure for monetary dealing like as ancient banking. Structure bulletin boards could contain the subsequent like circulars, undesirable parties, hot list, bulletins, missing security things, confidential circulars on tried frauds. 10. Net banks ought to seek for opportunities to lower the fees and transfer the value savings to customers. 11. The banker’s area unit suggested producing comfortable employees and monetary help to modernize the operating conditions. The supply of modernized infrastructural facilities is that the ‘mantra’ for the success of the promoting of the banking services. For that they need to produce a lot of infrastructure facilities impermanent the operating conditions and therefore the appointment of technical employees all told the branches of banks within the Tamilnadu. 12. Nowadays, once any bank is willing to open a replacement branch or willing to shift the present branch to new location, they realize comfortable area for the branch premises in addition as for ATM machines. This can be for the aim of serving to customers to induce immediate withdrawal of funds from the machines. Normally, they supply cash for cheques higher than the essential limit prescribed for withdrawal from ATM machines. 13. In cases wherever ATMs don't choose the cardboard, the officers managing money ought to remember enough to handle the matter. ATM machines ought to maintain and repaired now. ATMs ought to be put in close to searching complexes, hospitals Malls, collection centres, business institutions and straightforward accessibility from the road, not nearer to ponds, factories managing flammable merchandise and perishable things. 14. Once a client goes to a bank he interacts with workers of that bank. For him, he's not interacting with an individual however with the bank. Therefore, the employees of the bank ought to be friendly, polite and trained enough to guide the client effectively. 15. The promotional measures like personal merchandising, loan melas, ad through newspapers, co-operative bank employees, the posters and pamphlets could also be increased so as to retain existing customers and attract new customers within the State. 16. Regular feedbacks ought to be taken by the shoppers concerning the operating of the banks such feedback offers AN insight of shopper’s expectation from banks and offers scope for more improvement. 17. The banks ought to correct usage of data Technologies and fashionable amenities like ATM, Mobile Banking, SMS, banking, and Electronic payment, money Dispensers, Real- Time Gross Settlement Systems (RTGS), and National Electronic Fund Transfer (NEFT). Electronic Clearing Systems (ECS), Electronic Fund Transfer Systems, personal identification number primarily based Transactions for Magnetic cards- sensible cards, Credit cards and Debit cards. Offshore Banking/ Overseas Banking services.

Conclusion

In the days to return, banks area unit expected to play a really necessary role within the economic development and therefore the rising market can offer business and promoting opportunities to harness. As banking in Asian country can become a lot of and a lot of information supported, capital can emerge because the finest assets of the banking industry. Ultimately banking is folks and not simply figures. To conclude it the entire banking sector in Asian country is progressing with the magnified growth in client base, because of the recently improved and innovative facilities offered by banks. The economic process of the country is AN indicator for the expansion of the banking sector. The Indian economy is projected to grow at a rate of 5-6 p.c the country’s industry is anticipated to reflects this growth. The in cumbrance for this lies within the capabilities of the banking company of Asian country as a ready central regulatory agency, whose policies have secure Indian banks from excessive leverage and creating high risk investments. By the govt support and a careful re-evaluation of existing business ways will set the stage for Indian banks to become larger and stronger, thereby setting the stage for enlargement into a worldwide client base. The future success by any bank can't be achieved while not the event of recent business ideas, innovative product AN services and intense target client retention. Banks need to instill in their DNA the enablement of a positive and consistent client expertise which will rework them into trusty advisers. Banking is one in every of the various services during which client satisfaction has had AN everincreasing importance within the corresponding analysis areas. This can be primarily as a result of the banking sector is turning into a lot of and a lot of competitive. Retail banks area unit following this strategy, in part, due to the problem in differentiating supported the service providing. Client satisfaction in banking has not been neglected by researchers.

References

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