The third annual conference of Internal Ombudsmen was organised by the Reserve Bank in Mumbai today, bringing together representatives from banks, non-banking financial companies, credit information companies as well as RBI Ombudsman.
Addressing the gathering, RBI Deputy Governor, Mr. Swaminathan J. urged boards and senior management to work towards building an effective IO mechanism and use its insights to strengthen customer service and grievance redress. Directing officers to provide a meaningful, fair and effective resolution of customer complaints, the Deputy Governor asked them to identify recurring issues, undertake root cause analysis and help implement remedial measures.
During the conference, discussions were held over recent grievance redress developments, regulatory expectations, and RBI Ombudsman insights, focusing on faster and higher quality resolutions and systemic improvements to prevent avoidable escalations.
