Griev­ance Re­dres­sal Mech­a­nism

Consumer Voice - - Bfsi Guide -

Ac­cord­ing to RBI, at­tend­ing to con­sumer griev­ances/com­plaints per­tain­ing to failed/dis­puted ATM trans­ac­tions is the pri­mary re­spon­si­bil­ity of the card-is­su­ing bank (spon­sor bank in case of WLAs). Banks have au­to­mated sys­tems en­abling reg­is­tra­tion of ATM-re­lated com­plaints at any branch/call cen­tre. The auto-es­ca­la­tion of com­plaints is also en­abled in th­ese sys­tems, fa­cil­i­tat­ing speedy res­o­lu­tion of com­plaints.

Banks should en­sure that wide pub­lic­ity is given to their cus­tomer griev­ance re­dres­sal poli­cies by plac­ing them promi­nently on the web­site and also oth­er­wise widely dis­sem­i­nat­ing the poli­cies, for ex­am­ple by dis­play­ing them on the no­tice board in their branches.

WLA (white-la­bel) In a white-la­bel sce­nario, logo dis­played on ATM and in ATM premises per­tains to WLA op­er­a­tor (non­bank en­ti­ties) in­stead of a bank. The en­tity that spon­sors a bank pro­vides cash to the ATM.

Sep­a­rate li­cense is re­quired to open a WLA. WLAs do not have di­rect ac­cess to the set­tle­ment sys­tem ex­cept through the spon­sor bank.

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