Emerging Trends on Customer’s Satisfaction towards Value Added Services of Indian Post Payment Bank in Selected Region of Gujarat

Abstract

Payment Bank is a new type of banking being promoted with the express purpose of expanding the reach of banking services to the vast majority of unbanked and under bank segments of the population.  Payment banking promoted by India Post is expected to utilize the physical postal network as well as digital platforms like mobile banking, internet, debit cards, point of sale, etc. to provide low-cost specified financial services to the target population. Marketing today is customer-oriented. Therefore, the customer is considered as the profit center of the organization. All employees, including management, should be involved in providing quality service to customers. Providing quality service is key to customer satisfaction and loyalty. India Post is one of the oldest and best-known public institutions with a solid customer base. It is to have a brand image and to have trust in the minds of customers. Due to globalization, India Post faces stiff competition from other strong competitors. India Post should make a conscious effort to improve the overall quality of service. The postal department is trying to make the necessary improvements to the service. Indian Post Payment Banks can provide last-mile connectivity, especially in areas where there are no bank branches but post offices. Its huge presence in rural areas and the trust it has earned among large sections of the population could help it succeed where commercial banks have failed. This study focuses on customer satisfaction with various value-added services provided by IPPB.