RBI to Resolve Grievances with Ombudsman

Mumbai, Dec 5 (PTI) The Reserve Bank will launch a two-month campaign beginning next month to resolve all grievances pending for more than a month with the Ombudsman.

RBI Ombudsman scheme helps provide cost-free redressal of customer complaints involving deficiency in services rendered by entities regulated by RBI, if not resolved to the satisfaction of the customers or not replied within a period of 30 days by the regulated entity.

"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 while announcing the outcome of the Monetary Policy Committee (MPC) meeting.

Earlier in the year, RBI reviewed Citizens Charter too and made applications for all its services online, he said.

"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 per cent of the applications are disposed of within stipulated timelines," he said.

However, he said, 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. Further, we propose to hold a two-month campaign from January next year with an aim to resolve all grievances pending for more than a month with the RBI Ombudsman," he said.

Malhotra urged the support of all regulated entities in this endeavour.