RBI asks REs to improve customer service and reduce grievances

The Reserve Bank of India (RBI) as an additional measure has asked banks and other regulated entities to improve customer service and reduce grievances. It has announced to hold a two-month campaign from 1st January next year with to resolve all grievances pending for more than a month with the RBI Ombudsman.

“We have been focusing on improving customer services. We have taken a large number of measures in this regard. Re-KYC, financial inclusion and “Aapki Poonji, Aapka Adhikar” campaigns are some of the initiatives taken in association with other stakeholders,” RBI Governor Sanjay Malhotra said.

“Earlier in the year, we reviewed our Citizens Charter too. We made applications for all our services online. We are publishing the summary of our monthly disposal and pendency of various applications on the first of every month. I am happy to note that more than 99.8% of the applications are disposed of within stipulated timelines,” he said.

“However, in the recent past, as a result of receipt of a large number of grievances, pendency with the RBI Ombudsman has increased. I exhort all regulated entities to keep customers central in their policies and operations, improve customer service and reduce grievances,” he said. 

“Further, we propose to hold a two-month campaign from 1st January next year with an aim to resolve all grievances pending for more than a month with the RBI Ombudsman. I elicit the support of all regulated entities in this endeavour,” he added.