INTRODUCTION

According to the Department of Marketing at Washington University, there is no single definition of consumer satisfaction. However, all the definitions in the literature and from consumers describe consumer satisfaction as a reasoned or emotional response to a product, service or consumer experience at a particular time. Essentially, consumer satisfaction is the extent to which consumers are happy with the products or services provided by a business. It is an important concept in business, because happy customers are those most likely to place repeat orders and explore the full range of services offered.

FACTORS
Consumers are most likely to report satisfaction with goods and services if they are made to feel "special" by the provider. In other words, if the staff of a company pays attention to the individual needs of its customers, before, during and after the sales process, they are more likely to return.

MEASUREMENT
Consumer satisfaction can be measured using survey techniques and questionnaires. Questions typically include an element of emotional satisfaction coupled with an element of behavioral satisfaction, or loyalty to a particular product or service.

CONSUMER SATISFACTION PROCESS Five Step of consumer satisfaction Understanding Customer Expectations Promises to customer Execution Ongoing dialog with the customer Consumer satisfaction surveys

HISTORY

Imperial Bank of India. The roots of the State Bank of India lie in the first decade of 19th century, when the Bank of Calcutta, later renamed the Bank of Bengal, was established on June 2, 1806. The Bank of Bengal was one of three Presidency banks, the other two being the Bank of Bombay (incorporated on April 15, 1840) and the Bank of Madras (incorporated on July 1, 1843). All three Presidency banks were incorporated as joint stock companies and were the result of the royal charters. These three banks received the exclusive right to issue paper currency in 1861 with the Paper Currency Act, a right they retained until the formation of the Reserve Bank of India. The Presidency banks amalgamated on January 27, 1921, and the re-organized banking entity took as its name Imperial Bank of India. The Imperial Bank of India remained a joint stock company.

Pursuant to the provisions of the State Bank of India Act of 1955, the Reserve Bank of India, which is India's central bank, acquired a controlling interest in the Imperial Bank of India. On April 30, 1955, the Imperial Bank of India became the State Bank of India. The government of India recently acquired the Reserve Bank of India's stake in SBI so as to remove any conflict of interest because the RBI is the country's banking regulatory authority. In 1959, the government passed the State Bank of India (Subsidiary Banks) Act, enabling the State Bank of India to take over eight former stateassociated banks as its subsidiaries. On September 13, 2008, the State Bank of Saurashtra, one of its associate banks, merged with the State Bank of India. SBI has acquired local banks in rescues. For instance, in 1985, it acquired the Bank of Cochin in Kerala, which had 120 branches. SBI was the acquirer as its affiliate, the State Bank of Travancore, already had an extensive network in Kerala.

RESEARCH METHODOLOGY A. RESEARCH OBJECTIVE

Exploring the customer satisfaction of state bank of India. Recent policies and services of state bank of India Opportunities and challenges for SBI. Analysis on the basis of Survey Conducted with the consumer of SBI which determine consumer satisfaction of SBI.

B.RESEARCH DESIGN

For the purpose of the present study consumer satisfaction of SBI

both descriptive and explorative research were used. In descriptive research, we can make use of both case study and statistical study. Causal or experimental research seeks to unearth cause and affect relationships. A good causal research design seeks to minimize the interference of external variables while studying the relationship between variables. There is, however, a third type of research, also termed as performance monitoring research, that is an important part of marketing research activity of a firm. It typically requires a longitudinal research design, in which a fixed sample of population elements in measured repeatedly.

In the traditional panel, the same variables are measured every time, as opposed to an omnibus panel where different variables are measured each time. In both types of panels, the sample of respondents remains fixed.

C. DATA COLLECTION METHOD For this research study, primary data as well as secondary data was collected. Primary Data is that which is collected for the very first time. It has been collected through personal contact. For this purpose questionnaire method was used to know preferences of consumers about stata bank services. Secondary data is already being published by some one else. It has collected from magazines, newspaper, company literature and websites. D.QUESTIONNAIRE DESIGN / FORMULATION

Questionnaire has questions about the service usage, services by SBI before and after purchases,. The questionnaire is formed to find out the needs and preferences of the customers and what they want from in the product and also the level of knowledge about different services of state bank in market.

Questionnaire is close-ended. 100 units have been surveyed E.SAMPLE DESIGN

Sample Units-respondents Sample extent-Delhi Time Frame-25 days Sampling technique - Convenience sampling (Non Probability sampling technique) Sample size-100 units LIMITATIONS

Sometime respondents refuse to cooperate and it may possible

that they give biased and dishonest answers.

Primary Research takes so much time

It may possible that personality and caliber of two researchers

are different and thus their findings could also vary.

Hypotheses
After my prolong research ,i came to know that state bank of india is playing a provital role for satisfying coustmer in efficient manner and also playin a very important role in upliftment of indian economy on my preception the future prospectives of state bank is going to be more and more bright. It had assets of US$370 billion with over 13,000 outlets including 150 overseas branches and agents globally SBI provides a range of banking products through its vast network of branches in India and overseas, including products aimed at non-resident Indians (NRIs). The State Bank Group, with over 16,000 branches, has the largest banking branch network in India. SBI has 14 local head offices situated at Chandigarh, Delhi, Lucknow, Patna, Kolkata, Guwahati (North East Circle), Bhuwaneshwar, Hyderabad, Chennai, Trivandram, Banglore, Mumbai, Bhopal &

Ahmedabad and 57 Zonal Offices that are located at important cities throughout the country. It also has around 130 branches in all over India its main competitors are ICICI bank ,HDFC bank and Punjab national bank.

STATE BANK OF INDIA

State Bank of India

Type Traded as

Public NSE: SBIN BSE: 500112 LSE: SBID BSE SENSEX Constituent Banking, Financial services July 1, 1955

Industry Founded

Headquarters Mumbai, Maharashtra, India Area served Key people Worldwide Pratip Chaudhuri (Chairman) Credit cards, Consumer banking, corporate banking,finance and insurance,investment banking, mortgage loans, private

Products

banking, wealth management Revenue Profit Total assets Total equity Owner(s) Employees Website US$32.44 billion (2011)[1] US$2.34 billion (2011)[1] US$369.56 billion (2011)[1] US$18.71 billion (2011)[1] Government of India 222,933 (2011)[1] www.statebankofindia.com

State Bank of India (SBI) (NSE: SBIN, BSE: 500112, LSE: SBID) is the largest banking and financial services company in India by revenue, assets and market capitalization. It is astate-owned corporation with its headquarters in Mumbai, Maharashtra. As of March 2011, it had assets of US$370 billion with over 13,000 outlets including 150 overseas branches and agents globally. The bank traces its ancestry to British India, through the Imperial Bank of India, to the founding in 1806 of the Bank of Calcutta, making it the oldest commercial bank in the Indian Subcontinent. Bank of Madras merged into the other two presidency banksBank of Calcutta and Bank of Bombayto form the Imperial Bank of India, which in turn became the State Bank of India. The Government of India nationalized the Imperial Bank of India in 1955, with theReserve Bank of India taking a 60% stake, and renamed it the State Bank of India. In 2008, the government took over the stake held by the Reserve Bank of India. SBI is ranked 292 globally in Fortune Global 500 list in 2011. SBI provides a range of banking products through its vast network of branches in India and overseas, including products aimed at non-resident Indians (NRIs). The State Bank Group, with over 16,000 branches, has the largest banking branch network in India. SBI has 14 local head offices situated at Chandigarh, Delhi, Lucknow, Patna, Kolkata, Guwahati (North East Circle), Bhuwaneshwar, Hyderabad,

Chennai, Trivandram, Banglore, Mumbai, Bhopal & Ahmedabad and 57 Zonal Offices that are located at important cities throughout the country. It also has around 130 branches overseas. SBI is a regional banking behemoth and is one of the largest financial institutions in the world. It has a market share among Indian commercial banks of about 20% in deposits and loans. The State Bank of India is the 29th most reputed company in the world according to Forbes. Also, SBI is the only bank featured in the coveted "top 10 brands of India" list in an annual survey conducted by Brand Finance and The Economic Times in 2010. The State Bank of India is the largest of the Big Four banks of India, along with ICICI Bank,Punjab National Bank and HDFC Bankits main competitors.

INTERNATIONAL PRESENCE

The Israeli branch of the State Bank of India located in Ramat Gan. As of December 31, 2009, the bank had 157 overseas offices spread over 32 countries. It has branches of the parent in Colombo, Dhaka, Frankfurt, Hong Kong, Tehran, Johannesburg, London, Los Angeles, Male in the Maldives, Muscat, Dubai, New York, Osaka, Sydney, and Tokyo. It hasoffshore banking units in the Bahamas, Bahrain, and Singapore, and representative offices inBhutan and Cape Town. It also has an ADB in Boston, USA. SBI operates several foreign subsidiaries or affiliates. In 1990, it established an offshore bank: State Bank of India (Mauritius). In 1982, the bank established a subsidiary, State Bank of India (California), which now has ten branches nine branches in the state of California and one in Washington, D.C. The 10th branch was opened in Fremont, California on 28 March 2011. The other eight branches in California are located in Los Angeles, Artesia, San Jose, Canoga Park, Fresno, San Diego, Tustin and Bakersfield. The Canadian subsidiary, State Bank of India (Canada) also dates to 1982. It has seven branches, four in the Toronto area and three in British Columbia. In Nigeria, SBI operates as INMB Bank. This bank began in 1981 as the Indo-Nigerian Merchant Bank and received permission in 2002 to commence retail banking. It now has five branches in Nigeria. In Nepal, SBI owns 55% of Nepal SBI Bank, which has branches throughout the country. In Moscow, SBI owns 60% of Commercial Bank of India, with Canara Bank owning the rest. In Indonesia, it owns 76% of PT Bank Indo Monex. The State Bank of India already has a branch in Shanghai and plans to open one in Tianjin. In Kenya, State Bank of India owns 76% of Giro Commercial Bank, which it acquired for US$8 million in October 2005 The State Bank of India (with 74% of the total capital) alongwith the largest global banking groupBNP Paribas (with 26% of the remaining capital) headquatered in Parisformed a joint venture which established India's most reputed and trusted life insurance company named SBI Life Insurance company Ltd. in March 2001.

ASSOCIATE BANKS

SBI has five associate banks; all use the same logo of a blue circle and all the associates use the "State Bank of" name, followed by the regional headquarters' name:

State Bank of Bikaner & Jaipur State Bank of Hyderabad State Bank of Mysore State Bank of Patiala State Bank of Travancore

Earlier SBI had only seven associate banks that constituted the State Bank Group. Originally, the then seven banks that became the associate banks belonged to princely states until the government nationalised them between October 1959 and May 1960. In tune with the first Five Year Plan, emphasising the development of rural India, the government integrated these banks into the State Bank of India system to expand its rural outreach. There has been a proposal to merge all the associate banks into SBI to create a "mega bank" and streamline operations. The first step towards unification occurred on August 13, 2008 when State Bank of Saurashtra merged with SBI, reducing the number of state banks from seven to six. Then on June 19, 2009 the SBI board approved the merger of its subsidiary, State Bank of Indore, with itself. SBI holds 98.3% in State Bank of Indore. (Individuals who held the shares prior to its takeover by the government hold the balance of 1.77%.) The acquisition of State Bank of Indore added 470 branches to SBI's existing network of 12,448 and over 21,000 ATMs. Also, following the acquisition, SBI's total assets will inch very close to the 10 trillion mark. The total assets of SBI and the State Bank of Indore stood at 9,981,190 million as of March 2009.

The process of merging of State Bank of Indore was completed by April 2010, and the SBI Indore branches started functioning as SBI branches on August 26, 2010.

NON BANKING SUBSIDIARIES Apart from its five associate banks, SBI also has the following non-banking subsidiaries: 1. SBI Capital Markets Ltd 2. SBI Funds Management Pvt Ltd 3. SBI Factors & Commercial Services Pvt Ltd 4. SBI Cards & Payments Services Pvt. Ltd. (SBICPSL) 5. SBI DFHI Ltd 6. SBI Life Insurance Company Ltd. 7. SBI General Insurance

CURRENT BOARD OF DIRECTORS After the end of O. P. Bhatt's reign as SBI chairman on March 31, 2011, the post was taken over by Pratip Chaudhuri, who is the former deputy managing director of the international division of SBI. As of August 4, 2011, there are twelve members in the SBI board of directors, including Subir Gokarn, who is also one of the four deputy governors of the Reserve Bank of India. The complete list of the Board members is: 1. 2. 3. 4. 5. 6. 7. 8. 9. 10. 11.
12.

Pratip Chaudhuri (Chairman) Hemant G. Contractor (Managing Director) Diwakar Gupta (Managing Director) A Krishna Kumar (Managing Director) Dileep C Choksi (Director) S. Venkatachalam (Director) D. Sundaram (Director) Parthasarathy Iyengar (Director) G. D. Nadaf (Officer Employee Director) Rashpal Malhotra (Director) D. K. Mittal (Director) Subir V. Gokarn (Director)

BRANCHES OF SBI State Bank of India has 172 foreign offices in 37 countries across the globe. SBI has about 25,000 ATMs (25,000th ATM was inaugurated by the then Chairman of State Bank Shri O.P. Bhatt on 31 March 2011, the day of his retirement); and SBI group(including associate banks) has about 45,000 ATMs. SBI has 21,500 branches, including branches that belong to its associate banks. SBI includes 99345 offices in India. India's number one ADB is in bellary i e State bank of India bellary ADB

SYMBOL AND SLOGAN The symbol of the State Bank of India is a circle and not key hole and a small man at the centre of the circle. A circle depicts perfection and the common man being the centre of the bank's business. Slogans : "Pure banking nothing else"

also includes : "With you - all the way" and : "a bank of common man"

RECENT AWARDS AND RECOGNITION Best Online Banking Award, Best Customer Initiative Award & Best Risk Management Award (Runner Up) by IBA Banking Technology Awards 2010 The Bank of the year 2009, India (won the second year in a row) by The Banker Magazine Best Bank Large and Most Socially Responsible Bank by the Business Bank Awards 2009 Best Bank 2009 by Business India The Most Trusted Brand 2009 by The Economic Times Most Preferred Bank & Most preferred Home loan provider by CNBC Visionaries of Financial Inclusion By FINO Technology Bank of the Year by IBA Banking Technology Awards SKOCH Award 2010 for Virtual corporation Category for its epayment solution The Brand Trust Report: 11th most trusted brand in India.

yes 85%

No 15%

ANALYSIS OF SURVEY
1. Do you think that SBI caters all your banking needs

Yes No

2.For past how many years you have account with SBI?
1 to 3 years 3 to 5 years 5 to 10 years More than 10 years 32% 28% 40% 10%

1 to 3 years 3 to 5 years 5 to 10 years more than 10 years

3.what kind of account you are maintaining Current account Savings account Loan account Demat account Credit card account 6% 52% 20% 8% 14%

current A/c Savings A/C Loan A/C Demat A/C Credit crd A/C

4.Which of the following facility gives more importance in SBI? Loan facilities Overdraft facilities ATM facility 50% 15% 35%

5.does SBI listed its share in stock exchange Yes No Not Aware 6.do they charge unnecessarily for not maintaining minimum balance in your account?