Several studies have revealed that there is a relationship between the quality of service offered by the service provider and the level of satisfaction among their customers. But as we know that service quality from the customer's perspective is very subjective. Therefore, service quality dimensions cannot be generalized for all types of services. Though the SERVQUAL model of measuring service quality has proven its applicability across all services, there is a need to have sector-specific Service Quality Management (SQM) Model. This paper attempts to find out the SQM model for the Indian banking sector covering public, private and foreign banks. Principal factors of banking service quality have been identified which are important for customer satisfaction in a particular type of bank.