RBI plans om­buds­man for all banks

India Business Journal - - NEWS ROUND-UP -

The RBI will be ex­tend­ing its re­vised in­ter­nal om­buds­man scheme to all banks, ex­clud­ing re­gional ru­ral banks (RRBs). The central bank's de­ci­sion is aimed at im­prov­ing the in­ter­nal griev­ance re­dress mech­a­nism at banks. The

RBI has also al­lowed banks to ap­point more than one in­ter­nal om­buds­man de­pend­ing on the vol­ume of busi­ness. Se­lect banks were ad­vised in May 2015 to ap­point in­ter­nal om­buds­man as the apex author­ity for re­dress of cus­tomer com­plaints. Re­vised in­struc­tions in this re­gard will be is­sued by the end of Septem­ber 2018, the central bank has said.

Newspapers in English

Newspapers from India

© PressReader. All rights reserved.