An Investigation on the level of Customer Satisfaction with E-Banking Services with a special focus on the Delhi - NCR Region

The expansion of electronic banking (E-banking) in India has been facilitated by the government and the Reserve Bank of India, with the IT Act of 2000 establishing the legal validity of electronic transactions. Customer satisfaction with E-banking is influenced by factors such as service quality, performance, security/privacy, and website design. The criteria with the highest correlation with customer satisfaction include performance, device accessibility, and rewards. The objective of this study was to investigate the correlation between demographic factors and customer happiness, assess the level of risk experienced by customers, and identify elements that promote increased usage of E-banking services. The findings showed that mobile banking was the preferred method for conducting electronic transactions for 38% of participants, followed by ATMs (34%), internet banking (28%), and debit/credit cards (5%). The main motivations for using E-banking services were to see transaction status (43%), save time (28%), pay utility bills (21 %), and for security considerations (8%). PNB Bank, ICICI Bank, SBI Bank, HDFC Bank, and Federal Bank were the preferred banks for E-banking services. A survey revealed that 47% of respondents agreed with the security of E-banking transactions, while 53 % either had a neutral stance or disagreed. The majority of respondents (82%) expressed satisfaction with online banking, while a minority (18%) reported dissatisfaction. Overall, the study highlights the growing popularity and satisfaction with E-banking services in India.