A Survey Of Bank Customers' Perceptions Towards Demonetization In India

Abstract

Customer is the king of market. Customers of public sector banks in Rajkot, India, were surveyed before, during, and after the demonetization program was enacted to determine their thoughts and experiences. The goals of the study are to take a snapshot of how people generally feel about demonetization, how difficult it has been for them, and how those feelings and experiences differ depending on whether they are male or female. One hundred and twenty clients of the five largest public sector banks in the Rajkot area participated in this cross-sectional study by completing questionnaires. Customers' perspectives and experiences changed significantly before and after demonetization, according to the study's results. During the time of demonetization, there was a notable rise in both emotional and physical stress, as well as in time wasted. In addition, the survey shows differences in how women and men see the benefits of demonetization. Opportunities seen as a result of this policy shift were seen quite differently by male and female bank clients. These findings provide light on how demonetization has affected bank customers and highlight the need to account for gender variations when analysing policy. These results have important implications for policymakers and financial institutions as they consider and execute future financial reforms.