A STUDY ON CUSTOMER SATISFACTION OF BANCASSURANCE IN ANDHRAPRADESH

Abstract

The business sector has made some significant gains in productivity and efficiency, but a new challenge has emerged. There has been a significant drop in productivity and efficiency and the banking sector's profitability. The quality of the loan portfolio has deteriorated, thereby hampering bank income generation and supporting capital funds. As a result of little capital and lack of loan loss provisions, depositorsand investors confidence has been undermined. So, the Government of India established the Narasimham Committee to investigate the financial system's issues and offer possible solutions in the year 1991 (Uppal & Kaur, 2006). Previously highly regimented and over bureaucratic banking systems have undergone a complete transformation into market-driven and highly competitive ones due to the acceptance of the Narasimham Committee recommendations by the government.The biggest development was the introduction of private sector banks in India.The goal was to make the Indian financial sector more efficient, productive, and profitable. Overall monetary policy framework, strengthened financial institutions, and integrated financial system to attract capital and current technology are among the recommendations (Rajneesh De and Padmanabhan,2002).