RBI launches Single Window Portal for Customer Complaints
The Reserve Bank of India (RBI) has launched a single window portal, Complaint Management System for addressing customer complaints relating to banks and non-banking finance companies (NBFCs) through an online portal.
Complaint Management System
- The Complaint Management System (CMS) is a software application of the RBI to facilitate RBI’s grievance redressal process.
- Complaints can be launched against any entity which is regulated by RBI such as commercial banks, urban cooperative banks, Non-Banking Financial Companies (NBFCs).
- CMS provides features such as acknowledgement through SMS/e-mail notification(s), status tracking through unique registration number, receipt of closure advises, and filing of appeals, where applicable.
- CMS can also generate various reports for monitoring and managing complaints pertaining to each entity.
- Together with reducing their turnaround time in resolution of complaints and strengthening their grievance redressal mechanism, the data from CMS can be used for undertaking root cause analysis with an objective of understanding their customer pain areas, behaviour and expectations so as to improve their services for maintaining customer loyalty.
- Data from CMS can also be used by RBI for designing for regulatory and supervisory interventions together with tracking the progress in the redressal of complaints.
The CMS has digitalized the processing of complaints received at the offices of the Ombudsman and Consumer Education and Protection Cells (CEPCs) of the RBI.
Topics: commercial banks • Complaint Management System • Consumer Education and Protection Cell • grievance redressal process • NBFC • Non-Banking Financial Companies • Ombudsman • RBI • Reserve Bank of India • Urban cooperative banks
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