Public sector banks score over private ones
public sector banks have long been chastised as the black sheep of the financial sector. But while a lot of experts might deride these institutions for their non-performing assets and lower productivity, at the end of the day, public sector banks have far happier customers compared to their counterparts in the private sector. According to Reserve Bank of India's (RBI's) latest report, Trend and Progress of Banking in India, public sector banks rule the roost in customer satisfaction.
The report should make those singing hosannas for private sector banks sit up. It shows that the State Bank of India (SBI) recorded 0.1 "complaints per branch' while the corresponding figure for icici was 1.39