The ombudsman should be sensitive while the redressal of customer complaints. The RBI Ombudsman and Regulated Entities (REs) must first identify the root causes of persistent customer complaints. Then necessary systemic measures should be taken to fix it. In addition, the RE and RBI Ombudsman should be impartial and prompt in resolving customer complaints.
RBI Governor Shaktikanta Das made this appeal in the annual conference of the RBI Ombudsman held in Jodhpur recently. According to Das, complaints of wrong selling, lack of transparency in pricing, unreasonable service charges, exorbitant fines, etc., are constantly coming in. There was also a concern that a large number of complaints were about traditional banking.
There is thus a need for a serious review of the functioning of the customer service and grievance redressal mechanisms in regulated entities. The Governor said that there is a need to analyze the root cause of the persistence of such complaints and take necessary corrective measures. agency
For the first time in 6 years, RBI will tell why inflation is not coming down
For the first time since the formation of the Monetary Policy Committee (MPC) six years ago, the Reserve Bank of India (RBI) will prepare a report and submit it to the government on the failure to keep the inflation rate within the prescribed range for nine consecutive months. The MPC was set up in 2016 as a systematic framework for monetary policy formulation. Since then, it decides the policy interest rates.
Section 45ZN of the RBI Act provides that in case the inflation rate remains above the prescribed level for three consecutive quarters i.e. 9 consecutive months, the central bank will have to submit a report to the government about its failure. Because of the current level of inflation, RBI has called a special meeting of the MPC on 3 November, in which the report to be submitted to the government will be prepared. Since January this year, the inflation rate has remained consistently above 6%.
Also Read: CRISIL claims: Fertilizer subsidy may increase by Rs 40,000 crore due to rise in gas prices
Since the end of the Zero Covid policy in China on January 8, the number of people coming and goi
The collapse of the Francis Scott Bridge in Baltimore, USA is echoing across the Indian coal and
Sri Lankan Navy: Sri Lankan Navy 'attacked' Indian fishermen, arrested 14
A case of Indian fishermen being attacked and arrested by the Sri Lankan Navy has come to the for
Garib Rath Bomb Threat There was a stir today with the news of a bomb in the Garib Rath Express t
Vande Bharat Express Route In India: Indian Railways is soon going to give Vande Bharat Express T
Ajit Pawar-led Nationalist Congress Party (NCP) on Tuesday announced the names of two more candid
Sarfaraz Khan's dominance in his debut Test against England's spinners was no coincidence. This w
Bigg Boss 18: Rajat Dalal and Shehzada Dhami had a huge fight, Shehzada said- 'Will you say sorry'
This time in 'Bigg Boss-18', fitness influencer Rajat Dalal, who has become famous for his fights
Have you ever thought of vacationing on a cruise ship? Most of India's population can dream of sp
Prime Minister Narendra Modi has reached the US capital, Washington, D.C., where he was given a g
