Mumbai, July 13 (IANS) The Reserve Bank of India (RBI) on Monday asked banks to empower their Internal Ombudsmen (IO) mechanism to strengthen customer service and redress grievances speedily in order to avoid external escalation of cases.Addressing the third annual conference of Internal Ombudsmen (IO) of banks and NBFCs here, RBI Deputy Governor Swaminathan J. exhorted the internal ombudsmen to provide a meaningful, fair, and effective resolution of customer complaints.The Deputy Governor also …
Latest Internal Ombudsmen News & Updates
Mumbai, Jan 14 (IANS) The Reserve Bank of India (RBI) on Wednesday issued guidelines for the appointment and functioning of internal ombudsmen in banks and NBFCs, aimed at strengthening the mechanism for resolution of customer grievances.The RBI has issued separate directions for commercial banks, small finance banks, payments banks, non-banking financial companies, non-bank prepaid payment instrument issuers, and credit information companies to ensure specific clarity to each category.The direc…