Although a great number of research studies for service quality take place in the context of developed countries, similar studies in the context of developing counties are limited. This descriptive study focuses on the issue of measuring of service quality in banking sector in a India. In line with the above stated purpose, this paper attempts to examine the applicability of two popular measures of service quality in the banking sector in Indian context. The two popular multi-item scales of measuring service quality are SERVQUAL (developed and modified by Parasuraman et al. 1985, 1988, 1991, 1994) and SERVPERF (a performance-only measure of service quality suggested by Cronin and Taylor, 1992, 1994). While measuring service quality through these scales, the dimensionality, reliability and validity of the said scales are checked in Indian context. Also, the correlations of service quality with customer satisfaction, positive word-of-mouth and loyalty are examined. From a diagnostic standpoint, SERVPERF shows empathy dimension needs more resources as it is having lowest performance score (P). However, SERVQUAL shows the greatest gap occurs in reliability dimension, which requires more resources.