AN EMPIRICAL ANALYSIS OF CUSTOMER RETENTION STRATEGIES WITH REFERENCE TO MUTHOOT FINANCE

Abstract: In the highly competitive financial services sector, customer retention plays a pivotal role in sustaining long-term business growth and profitability. This study offers an empirical analysis of customer retention strategies adopted by Muthoot Finance, one of India's leading non-banking financial companies (NBFCs). The research aims to identify the key factors influencing customer loyalty and retention, including service quality, trust, customer satisfaction, and relationship management. A structured questionnaire was administered to a sample of Muthoot Finance customers across different branches, and the data collected were analyzed using statistical tools such as regression analysis and correlation analysis. The findings highlight the significance of personalized services, transparent communication, and prompt grievance redressal mechanisms in enhancing customer retention. The study concludes with practical recommendations for improving customer engagement and building long-term relationships, which can be applied not only within Muthoot Finance but also across the broader NBFC sector. This research contributes to the growing body of knowledge on customer relationship management in financial institutions.