International Journal Of Core Engineering & Management Volume-6, Issue-7, 2020 ISSN No: 2348-9510 19 A STUDY ON EFFECTIVENESS OF CUSTOMER RELATIONSHIP MANAGEMENT IN THE NAINITAL BANK LTD. (AT VIKASNAGAR BRANCH) Kishore Meghani M.B.A. Finance, M.A. Economics., M.Com. Accounts &Law, CBSE-UGC-NET (Commerce) NSE Academy Certified Market Professional (NCMP)Level 1 Research Scholar Ex-Branch Head, The Nainital Bank Ltd. Abstract Customer Relationship Management (CRM) is a new technique in marketing where the marketer tries to develop long term relationship with the customers to develop them as life time customers. This research check the impact of customer relationship management activities on bank's customer retention in The Nainital Bank Ltd.,Vikasnagar . For the purpose of study, a sampling analysis was conducted among (400) customers selected with the help of a structured questionnaire. (370) questionnaires were usable. Statistical answers give support on the high positive relationship between customer relationship management (CRM) and customer satisfaction. Thus, this paper aims to identify the reasons for the customers to prefer The Nainital Bank Ltd. at Vikasnagar. Further, this paper focuses the service provided by the staff in the bank. This paper is an attempt to find out CRM role in The Nainital bank Ltd. Few recommendations were suggested from this study were to create an awareness of loan facility, internet banking and locker service. Keywords: CRM, NTBThe Nainital Bank Limited, Loyalty, Customer. I. INTRODUCTION The customer is the most important person on our premises. He is not dependent on us, we are dependent on him. He is not an interruption to our work he is the purpose of it. He is not an outsider to our business he is a part of it. We are not doing favour by serving him. He is doing a favour by giving an opportunity to do so. -Mahatma Gandhi When talking about the value of customer to a business, Mahatma Gandhi said, "A customer is the most important visitor on our premises. He is not dependent on us. We are dependent on him. He is not an interruption in our work. He is the purpose of it. We are not doing him a favour by serving him. International Journal Of Core Engineering & Management Volume-6, Issue-7, 2020 ISSN No: 2348-9510 20 He is doing us a favour by giving us an opportunity to serve him". If a banking firm can follow the above valuable words given by Gandhi, it will definitely become the best bank in the world for customer service. To analyze the significance of customer relationship management in banking sector, its principles and benefits to their customers, challenges for CRM implementation and the method of its effective implementation. The effective relationship between customers and banks depends on the understanding of the different needs of customers at different stages. CRM is the most important tool for better future growth. Customers‟ requirements and complaints are part of their banking business life. Customers are the backbone of any kind of business activities, maintaining relationship with them yield better result. II. REVIEW OF LITERATURE Berry (1983), defined relationship marketing as attracting, maintaining and enhancing the customers‟ relationships in multiservice organization. After a few decades, the evolution in relationship marketing philosophy changed the word relationship marketing to CRM. Brown (2000), CRM is a process of acquiring new customers, retaining the existence customers, and at the same time understands, anticipates and manages the needs of an organization‟s current and potential customers. Mylonakis (2009), described CRMas an innovative process to create a long term relationship and gaining trust. Bansal and Sharma( 2008), A clear vision of CRM along with appropriate strategies if applies in banking sectors found out that beneficial in maintaining the customer service quality, customer satisfaction and customer retention which ultimately leads to the growth of the organization and profitability. Girdhar (2009), observed that by satisfying the internal customers and building good relationship with them, the relationship with the external customers can also be retained and satisfied by the banks. Kumar & Rajesh (2009), reveals that any bank that wishes to either grow in size of its banking operation or improve its profitability must consider the challenges affecting its customer relationship. The challenge before the banks is not only to obtain updated information for each customer, but also to use the information to determine the best time to offer the most relevant products. Lau et al., (2003), It is also important to understand that if customers bring in profits for the bank, it becomes imperative for the bank to provide excellent services to those customers, otherwise they switch to other banks. Ray, (2007), Service quality in banking implies consistently anticipating and satisfying the needs International Journal Of Core Engineering & Management Volume-6, Issue-7, 2020 ISSN No: 2348-9510 21 and expectations of customers. Parasuraman et al. (1985), also hold the view that high quality service gives credibility to the field sales force and advertising, stimulates favourable word-of-mouth communications, enhances customers‟ perception of value, and boosts the morale and loyalty of employees and customers alike. Puccinelli (1999), looks the financial services industry as entering a new era where personal attention is decreasing because the institutions are using technology to replace human contact in many application areas. Sherif, (2002),Over the last few decades, technical evolution has highly affected the banking industry. Sachdev et al., (2004),In today‟s competitive banking industry, customers have to make a choice among various service providers by making a trade-off between relationships and economies, trust and products, or service and efficiency. Roger Hallowell (1996), conducted a research on customer satisfaction, loyalty, and profitability And found that as compared to public sector, private sector bank customers‟ level of satisfaction is comparatively higher. Dr. S. Shrilatha(2016),conducted a research on a study on effectiveness of customer relationship management in Karur Vysya bank (KVB)at Vellore branch. The Nainital Bank Ltd: The Oldest Private Sector Bank in India. The Nainital Bank Ltd has been ranked as the Oldest Private Sector Bank (Founded: 1922) in India.Chairman & CEO, Shri Dinesh Pant Sir received the award on behalf of the Bank of Baroda. III. What is CRM? "Customer Relationship Management is the process of attracting, maintaining and enhancing customer relationships". --Berry (1995) "Customer Relationship Management is a comprehensive strategy and process of acquiring, retaining and partnering with selective customers to create superior value for the company and for the customers". --Sheth & Parvatiyar (2001). CRM IN BANKS Customer relationship management helps banking sector to use of technology and human resources. Customer satisfaction is an important variable in evaluation and control in a bank marketing management. Poor customer satisfaction will lead to a decline in customer loyalty. CRM is a powerful management tool that can be used to exploit sales potential and maximize the value of the customer to the bank. The recent development in this field is the introduction of CBS (Core Banking Solutions). A CBS helps in centralizing the transactions of branches and International Journal Of Core Engineering & Management Volume-6, Issue-7, 2020 ISSN No: 2348-9510 22 different banking channels and the customers start banking with the bank instead of at different branches. This is the only way to offer seamless transactions across different channels (branches, the Internet, the telephone and Automated Teller Machines or ATMs). As such nowadays a customer is called a customer of the bank rather than that of a branch. NEED FOR CUSTOMER RELATIONSHIP MANAGEMENT (CRM)  A satisfied customer in 10 years will bring 100 more customers to the company.  It costs 7 times more to attract a new customer than to serve an old one.  20% of the company‟s loyal customers account for 80% of its revenues. (Pareto‟s principle).  The chances of selling to an existing customer are 1 in 2; the chances of selling to a new customer are 1 in 16. Customer Relationship Management and Service Quality Source: Aldaigan A H and Buttle F A (2002)[2] From the above Figure: A customer first considers the quality of the product offered to start off his dealings with retail banks. Secondly, the customer develops a relationship with the retail banks based on the quality of services offered, which the bank exhibits through its performance, serviceability, conformance, aesthetics and quickness of response. International Journal Of Core Engineering & Management Volume-6, Issue-7, 2020 ISSN No: 2348-9510 23 CRM – Creating Customer Focus Source: Barnes, J. (1994), [3] Above Figure explains the creation of new customer base, focusing on the efficiency of functional departments of a retail bank. The major parameters coded for efficiency are customer driven vision, mission, rewards, appraisals, goals, strategy and values. CRM – Benefits to Customers  Optimization of the use of bank resources, such as alternative channels of distribution (internet and home banking),  CRM permits businesses to leverage information from their databases to achieve customer retention and to cross-sell new products and services to existing customers.  Banks that implement CRM make better relationships with their customers, achieve loyal customers and a substantial pay back, increased revenue and reduced cost. According to a study conducted at vikasnagar branch in the sector of banking, convenience of location, price, recommendations from others and advertising are not important selection criteria for banks. From customers‟ point of view, the important criteria are: account and transaction accuracy and carefulness, efficiency in correcting mistakes and friendliness and helpfulness of personnel. Thus, CRM, high-quality attributes of the product / service and differentiation proved to be the most important factors for customers. International Journal Of Core Engineering & Management Volume-6, Issue-7, 2020 ISSN No: 2348-9510 24 "Another study conducted in a European bank shows that with CRM, the bank was able to focus on profitable clients through efficient segmentation according to individual behaviour. Information about „who buys what and how much‟ enabled the bank to have a commercial approach based on the client and not solely on the product. Thus, the bank was able to better satisfy and retain its customers". CRM results both in higher revenues and lower costs, making companies more effective and efficient: effective in targeting the right customer base with the right services via the right channels, and they are efficient in doing this at the lowest costs. IV. OBJECTIVES OF THE STUDY  To identify the reasons to choose a particular bank by the customers.  To know about the responsiveness of the staff members in rendering service to customers.  To simplify marketing and sales process.  To provide better customer service.  To discover new customers and increase customer revenue and to cross sell products more effectively. The CRM processes should fully support the basic steps of customer life cycle. The basic steps are:  Attracting present and new customers  Acquiring new customers  Serving the customers  Retaining the customers  To build this momentum banks are focusing on customer relationship management initiatives to improve  Customer satisfaction and loyalty  Customer insight/ 360o view of customer  Speed to market products and services  Increase products-to-customer ratio  Improve up sales and cross sales and  capitalizing on new market opportunities TECHNOLOGICAL ACCOMPLISHMENTS The Nainital Bank Ltd is one of the earliest banks in the country to achieve full networking of its branches under Core Banking Solutions, offering services through alternate delivery channels. Some of the noteworthy accomplishments of The Nainital Bank Ltd are:  Any Branch Banking.  Multicity Account facilities for both current and savings bank customers.  Internet Banking. International Journal Of Core Engineering & Management Volume-6, Issue-7, 2020 ISSN No: 2348-9510 25  Online utility bill payments and shopping facilities  e-commerce facilities  Mobile Banking with Interbank Mobile Payment Services enabled by NPCI  Point of sale machines  Real Time Gross Settlement (RTGS) and National Electronic Funds Transfer (NEFT) facilities at all branches.  Rupay Debit card facility with a card base of huge customers.  On-line rail and air ticket booking using NTBL Rupay Debit card. V. DATA ANALYSIS AND INTERPRETATION SAMPLE SIZE The sample size of this study is 370. The information was collected from 370 respondents of The Nainital Bank Ltd.,Vikasnagar Branch. SOURCES OF DATA The researcher basically used two sources of data for the study. Primary data: Primary data required for the study has been collected through Questionnaire. Secondary Data: Secondary data was collected from the journals, magazines and website resources. NUMBER OF YEARS BEEN AS A CUSTOMER TABLE No. 1 No. of Years No. of respondents Percentage <1 year 111 30 <5 years 137 37 <10 years 72 19 >10 years 50 14 Total 370 100 From the above table and chart, it is inferred that 30% of the respondents have been as a customer for less than 1 year, 37% of the respondents have been as a customer for less than 5 years, 19% of the respondents have been as a customer for less than 10 years, and 14% of the respondents have been as a customer for more than 10 years. International Journal Of Core Engineering & Management Volume-6, Issue-7, 2020 ISSN No: 2348-9510 26 TYPE OF ACCOUNT TABLE 2 Type of Account No. of respondents Percentage Savings 198 54 Current 29 8 Fixed Deposit 60 16 Others 30 8 Two or More Accounts 53 14 Total 370 100 From the above table and chart, it is inferred that 54% of the respondents are having a savings account, 8% of the respondents are having current account, 16% of the respondents are having fixed deposit, 8% of the respondents are having other account, and 14% of the respondents are having more than one account. INFRASTRUCTURE FACILITIES TABLE 3 Infrastructure No. of respondents Percentage Excellent 41 11 Good 63 17 Average 266 72 Total 50 100 From the above table and chart, it is inferred that 11% of the respondents feel that Infrastructure facilities are Excellent, 17% of the respondents feel that Infrastructure facilities are good, and 72% of the respondents feel that Infrastructure facilities are average. STAFF AVAILABILITY TABLE 4 Staff availability No. of respondents Percentage Yes 361 98 No 9 2 Total 370 100 From the above table and chart, it is inferred that 98% of the respondents feel that the staff members are available at all counters and 2% of the respondents feel that the staff members are not available at all counters. International Journal Of Core Engineering & Management Volume-6, Issue-7, 2020 ISSN No: 2348-9510 27 STAFF KNOWLEDGE TABLE 5 Staff Knowledge No. of respondents Percentage Excellent 91 25 Good 95 25 Average 184 50 Total 370 100 From the above table and chart, it is inferred that 25% of the respondents feel that Staff has an excellent Knowledge, 25% of the respondents feel that Staff has a good Knowledge, and 50% of the respondents feel that Staff has an average Knowledge. REASONS MOTIVATED TO CHOOSE NTB TABLE 6 Reasons No. of respondents Percentage Nearness to home 99 27 Quality of service 68 18 Security 62 17 Recommended by your Friends and Relatives 75 20 Two or More Reasons 66 18 Total 370 100 From the above table and chart, it is inferred that 27% of the respondents have selected NTB due to Nearness to home, 18% of the respondents have selected NTB due to Quality of service, 17% of the respondents have selected NTB due to Security, 20% of the respondents has selected NTB due to Recommendation from Friends and Relatives, and 18% of the respondents have selected NTB due to two or more reasons. ADDITION TO NTB OTHER BANK A/c TABLE – 6 (i) Addition to NTB No. of respondents Percentage OBC 157 42 SBI 178 48 None 24 7 Others 11 3 Total 370 100 From the above table and chart, it is inferred that 42% of the respondents have an account in International Journal Of Core Engineering & Management Volume-6, Issue-7, 2020 ISSN No: 2348-9510 28 Oriental Bank of Commerce in addition to NTB, 48% of the respondents have an account in SBI in addition to NTB, 7% of the respondents do not have accounts in any bank other than NTB, and 3% of the respondents have accounts in other Banks. CUSTOMER WAITING TIME TABLE 7 Customer Waiting time No. of respondents Percentage Within 15mts 91 25 15-30mts 210 57 More than 30mts 69 18 Total 370 100 From the above table and chart, it is inferred that 25% of the respondents are waiting for 15 minutes for issue, receipts and payment of cash, cheque, 57% of the respondents are waiting for 15 minutes to 30 minutes for the transactions like making fixed deposits receipt and demand draft, and 18% of the respondents waiting for more than 30 minutes for the transactions like RTGS/NEFT or any Customer ID / Transaction Account modification and issuing Debit Cards. TIME TAKEN FOR FIXED DEPOSIT RECEIPT TABLE 8 FD Receipt time No. of respondents Percentage Within 15mts 81 22 15-30mts 168 45 More than 30mts 121 33 Total 370 100 From the above table and chart, it is inferred that 22% of the respondents are receiving a fixed deposit receipt within 15 minutes, 45% of the respondents are receiving a fixed deposit receipt from 15 minutes to 30 minutes, and 33% of the respondents are receiving a fixed deposit receipt for more than 30 minutes. International Journal Of Core Engineering & Management Volume-6, Issue-7, 2020 ISSN No: 2348-9510 29 LOAN PROCEDURE NTB,Vikasnagar TABLE 9 Loan procedure No. of respondents Percentage Yes: Difficult 241 65 Average 67 18 Easy 24 7 Very easy 7 2 No: Not availing 31 8 Total 370 100 From the above table and chart, it is inferred that 65% of the respondents feel that Loan procedure is so much difficult at NTB Vikasnagar – too much formalities as compared to other banks (Bank of Baroda) at vikasnagar and many said due to lack of knowledge (Managers NTB), villagers and poor people face so much problem while taking Kisan Credit Card loan. 18% of the respondents feel that Loan procedure is Average, 7% of the respondents feel that Loan procedure is Easy, only 2% of the respondents feel that Loan procedure is Very Easy and 8% do not avail any loan in NTB NO OF DAYS FOR THE ISSUE OF ATM CARD TABLE 10 Days for ATM card issue No. of respondents Percentage Yes: Less than 1 month 298 80 More than 1 month 2 1 No: Not availing 70 19 Total 370 100 From the above table and chart, it is inferred that 80% of the respondents say that the issue of ATM card takes less than 1 month, 1% of the respondents say that the issue of ATM card takes more than 1 month, and 19% of the respondents do not avail the ATM facility in NTB. PROBLEMS FACED WHILE DEALING WITH NTB TABLE 11 Problems faced in KVB No. of respondents Percentage ATM is not working/delay in OTP 99 26 Rigid requirements 139 38 Less Customer dealing time 19 5 Long queues at teller counter 8 2 Taking more time to resolve the queries 63 17 International Journal Of Core Engineering & Management Volume-6, Issue-7, 2020 ISSN No: 2348-9510 30 Two or More Problems 36 10 No problem 6 2 Total 370 100 From the above table and chart, it is inferred that 26% of the respondents have problem in NTB regarding ATM/OTP Delay, 38% of the respondents have problem in NTB regarding Rigid requirements, 5% of the respondents have problem in NTB regarding Less customer dealing time, 2% of the respondents have problem in NTB regarding Long queues at the teller counter, 17% of the respondents have problem in NTB regarding More time to resolve the queries, 10% of the respondents have Two or More problems in NTB, and 2% of the respondents does not have any problems in NTB. VI. FINDINGS The findings of the study are presented below:  33% of the respondents have been a customer for more than 5 years.  54% of the respondents are having Savings account.  98% of the respondents feel that staff members are available at all the counters.  25% of the respondents feel that Staff has a Good Knowledge.  17% of the respondents feel that Infrastructure facilities are Good.  18% of the respondents have selected NTB due to two or more reasons like Quality of service, Nearness to home, Security, Technology etc.,  25% of the respondents are waiting for 15 minutes for the issue, receipts and payment of cash, cheque and demand draft.  65% of the respondents are saying difficult to take loan from NTB and 8%not availing loan from NTB.  80% of the respondents are availing ATM facility from NTB.  Only2% of the respondents does not have any problems in NTB. VII. SUGGESTIONS A Few recommendations to improve Customer Relationship Management are given below from the analysis:  The bank must try to promote current account and focus on low cost deposits.  The bank must try to attract more fixed deposits.  The bank must try to provide specialised (90% practical training and 20% theoretical lecture) to managers on all NTB loan products especially Kisan Credit Card, with attractive features to attract the customers to avail loan facilities.  It is suggested that bank must create some awareness and benefits about Net banking International Journal Of Core Engineering & Management Volume-6, Issue-7, 2020 ISSN No: 2348-9510 31 Google Pay, Phone Pe and Paytm digital platform, Insurance and locker services.  It is suggested that bank must launch NTB Mobile Application in the era of digitalization, in vikasnagar 90% other banks have their own mobile application and we (NTB) unable to retaining existing customers.  NTB should more focus on retaining existing customers. NTB Vikasnagar Branch focusing on customer relationship management initiatives to improve:  Customer satisfaction and loyalty.  Customer insight/ 360o view of customer.  Speed to market products and services.  Increase products-to-customer ratio.  Improve up sales and cross sales.  Capitalizing on new market opportunities. VIII. CONCLUSION "Progress is impossible without change, and those who cannot change their mind cannot change anything" George Bernard Shaw  In the current market scenario, especially in banking sector „Customer Relationship Management‟ is regarded as the nerve system.  The Nainital Bank Ltd (NTB) one among the private sector banks, since its inception has come up on with very good achievements.  If The Nainital Bank Ltd (NTB), Vikasnagar takes some steps to create awareness about the products and services, improve infrastructure facilities, increase net banking facilities etc., it would be able to remove small pitfalls and defects and try to attract more number of customers.  The Nainital Bank Ltd (NTB) has used CRM not only as a tool, but also a strategy to gain competitive advantage over other new generation private sector banks.  The Management of The Nainital Bank Ltd (NTB) should conduct more products & services awareness campaign.  They should increase the level of providing personal attention to individual customers in order to maintain a long term relationship. 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