Customer Complaints Resolution: A Comparative Analysis of Paytm Payments Bank for the years 2023-24 & 2024-25

Title

Customer Complaints Resolution: A Comparative Analysis of Paytm Payments Bank for the years 2023-24 & 2024-25

Author

1. Dr. Anosh Paul, Professor, De Paul Institute of Science & Technology, Angamaly, India

Abstract

Customer satisfaction is not just a fact but it is a powerful strategy for every organization to survive. It is also applicable in the banking industry regardless nationalized banks, commercial banks or any other kinds of banks. Paytm Payments Bank who is concentrating more in digital payments is not free from this phenomenon. This study is aimed to compare the redressal of customer complaints raised for the years 2023-24 and 2024-25 against Paytm Payments Bank. Secondary data is used and tools such as Efficiency Metrics, Comparative Analysis, and Pareto Analysis are used to analyses the data. The analysis as well as testing of Hypothesis proved that the Paytm Payments Bank has much improvement in resolving the customer complaints. It is also found out that they should have a plan to reduce the number of complaints which is with more than 30 days pending in its resolution.

Keywords

Conclusion

Redressal of customer complaints are very much important to retain the existing customer with an organization. This study reveals the comparative analysis of customer complaints redressal for the years 2023-24 and 2024-25. The hypothesis tested proved that there is significant improvement in the complaint resolution mechanism of Paytm banks for the year 2024-25. The Pareto Analysis applied the 80:20 rule and is identified the major areas of complaints which occupies more than 80% of total complaints. It is recommended that the Paytm Payments Bank should be more vigilant about the customer complaints with respect to Internet or Mobile Banking (prepaid instruments), Account Opening / Operation of Accounts and Internet / Mobile / Electronic banking and it is also suggested that such areas should be their prime focused areas. Even though the efficiency metrics proved the Paytm Payments bank is efficient in redressal of complaints for the year 2024-25, the percent of complaints with more than 30 days pending are severe. Therefore, the Paytm Payments Bank should be considered this fact more seriously. If all those things are positive, we are sure that the Paytm Payments Bank can be a leading player in the Indian economy.

Author Contrubution

Original Work done by Dr. Anosh Paul

Funding

No funding

Conflict of Interest

I have no conflict of interest

Data Sharing Statement

I have no objection to share my paper

Software And Tools Use

Acknowledgements

I would like to thank each and every person who have helped to complete this research paper.