Reconnoitering the Relationship between Service Quality and Customer Retention with respect to selected Private Sector Banks in Chennai City M. Sasikala S.*, Dr. Umarani P.** *Research Scholar, Department of Management Sciences, Anna University, Chennai, India **Research Supervisor, Department of Management Sciences, Anna University, Chennai, India Online published on 3 May, 2016. Abstract In the last three decades, the growth of banking industry is enormous, earlier the banks were the place which provides the safety to the public money, but now 21st century banks provides variety of information technology based services and allied financial services to their customers. This study attempted to evaluate the quality of services provided by the selected private banks located in Anna Nagar, Chennai and its impact on customer retention. The study followed descriptive research design. The sample size of the 600, 200 samples from each selected private bank. The self-constructed questionnaire was developed with 27 items to evaluate the service scale and customer retention scale. The data were analyzed through IBM SPSS 22.0 and IBM AMOS 23.0 software packages. The findings of study revealed that, the service efficiency plays a vital role in customer retention, followed by physical infrastructure and environment, responsiveness, assurance and empathy. Hence it is concluded that the factors of service quality has high impact on retaining the customers in the context of banking industry in India. Top Keywords Service quality, customer retention, private banks, banking industry. Top |