RBI introduces Internal Ombudsman Scheme for stronger redressal of banks’ customer complaints

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The Reserve Bank of India (RBI) has directed banks with over 10 outlets to appoint an internal ombudsman to enhance their complaint redressal mechanism.

“All Scheduled Commercial Banks in India having more than ten banking outlets (excluding Regional Rural Banks), are required to appoint Internal Ombudsman (IO) in their banks. The IO shall, inter alia, examine customer complaints which are in the nature of deficiency in service on the part of the bank, (including those on the grounds of complaints listed in Clause 8 of the Banking Ombudsman Scheme, 2006) that are partly or wholly rejected by the bank,” RBI said in a statement on its website.

In May 2015, the central bank had advised all public sector and select private and foreign banks to appoint Internal…

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