Final decision on customer complaints should be communicated in 30 days, RBI tells Banks, NBFCs!
Banking & Finance
This directive is aimed at improving consumer grievance redress within the regulated entities, besides improving customer service standards.Further, REs (banks, Non-Banking Financial Companies, Non-bank System Participants and Credit Information Companies) may appoint one or more Internal Ombudsman (IO) and Deputy Internal Ombudsman (DIO) depending on the volume of complaints received by them. IOs usually deal with customer complaints related to deficiency in service.
Regulated entities (REs) and their Internal Ombudsmen (IOs) should ensure that a final decision is communicated to customers within a period of 30 days from the date of receipt of complaint, RBI said.
This directive is aimed at improving consumer grievance redress within the regulated entities, besides improving customer service standards.
IOs usually deal with customer complaints related to deficiency in service.
About Reserve Bank Of India:
Governor: Shaktikanta Das
Founded: 1 April 1935, Kolkata
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