Assessing the impact of green financial products and service quality on customer satisfaction: A comparative study of PNB and ICICI Bank in Bilaspur, Chhattisgarh

Abstract

This study investigates the impact of green financial products and service quality on customer satisfaction in PNB and ICICI banks in Bilaspur, Chhattisgarh. Using customer surveys and statistical methods, the research compares these bank types and evaluates relationships between green financial offerings, service quality dimensions, and overall customer satisfaction. Key findings reveal that while 70% of respondents are aware of green financial products, only 60% utilize them. Customer satisfaction levels are mixed, with 50% satisfied or delighted, 20% neutral, and 30% dissatisfied. Among service quality dimensions, reliability has the highest satisfaction rate (50%), followed by empathy (45%), tangibility and responsiveness (40% each), and assurance (35%). Dissatisfaction rates range from 30% to 40% across all dimensions, with assurance and responsiveness showing the highest dissatisfaction (35% each). The study highlights a gap between awareness and adoption of green financial products and identifies areas for improvement in service quality, particularly in assurance and responsiveness. Recommendations include enhancing marketing and education efforts for green financial products, addressing customer dissatisfaction, conducting further research to identify specific factors contributing to dissatisfaction, and strengthening staff training in weaker service quality dimensions. Additional suggestions involve developing strategies to increase the adoption of green financial products, tailoring products and services to different customer segments, regularly assessing and comparing service quality between PNB and ICICI Bank, and investigating barriers to the adoption of green financial products. This research contributes to the understanding of sustainable banking practices and their impact on customer perceptions in the context of Bilaspur, Chhattisgarh.