Ombudsman offices should adapt and evolve their processes to handle increasing volume of complaints says RBI Governor

Reserve Bank of Indias (RBI) Ombudsman mechanism is focused on providing independent, fair and impartial redress of grievances of customers. As the system continues to evolve, it should draw on accumulated experience to enhance the quality of outcomes, according to Shaktikanta Das, Governor, RBI. He noted this at the Annual Conference of RBI Ombudsman and further stated that ombudsman offices should adapt and evolve their processes to handle the increasing volume of complaints, while ensuring consistency in their decisions. While the Offices of Ombudsman need to intensify data analytics and use of technology for streamlining the internal processes, adoption of similar approach by the regulated entities is crucial for upholding public trust. There is also a need for further strengthening the internal grievance redress systems including the internal ombudsman framework in the regulated entities.

Powered by Capital Market - Live News