CUSTOMER LOYALTY AND SERVICE QUALITY IN RETAIL BANKING WITH REFERENCE TO YES BANK

Abstract

This investigation employs Yes Bank to illustrate the influence of consumer trust on the quality of retail banking. It is essential to prioritize clients in order to achieve long-term success in the fiercely competitive financial industry. A growing number of individuals acknowledge the importance of providing exceptional customer service in order to retain devoted and satisfied customers. This research investigates the relationship between the trust of Yes Bank's retail clients and the characteristics of exemplary service, including tangibility, assurance, responsiveness, and empathy. Formal surveys were disseminated to clients of Yes Bank in order to acquire primary information. The bank's publications and reports were used to disseminate additional information. In order to examine the correlation between consumer trust and service quality, statistical specialists implemented regression and correlation analysis. The paper's results suggest that improved service provision promotes customer loyalty, retention, favorable word of mouth, and repeat business. These findings underscore the importance of implementing customized strategies to attract, retain, and grow their clientele. Retail banks, including Yes Bank, may develop innovative strategies to improve client loyalty, service excellence, and competitiveness in the changing banking industry by utilizing comprehensive data.