Key Points
This could change soon as a panel set up by the Reserve Bank of India (RBI) has recommended several measures to improve customer experience at banks and similar regulated entities (REs) under the RBI...
Nearly one crore customers complain to their banks and other REs every year, and the number has not changed much in the last three years..
To make it easier for customers, the panel suggests an online facility be made available on the Indian Cybercrime Reporting Portal for registering complaints by members of public in respect of fraudulent transactions...
The panel suggests an RE-agnostic common portal for lodging complaints to be set up by the RBI so that the customers of any RE can lodge complaints on a single platform..
The panel thinks that absence of a uniform definition of complaints under Internal Grievance Redress (IGR) mechanism, unlike under the Reserve Bank Integrated Ombudsman Scheme (RB-IOS), gives rise to such divergence..
