New Delhi:
The Reserve Bank of India has directed banks to strengthen their grievance-redressal mechanisms and take steps to address complaints that repeatedly arise from the same underlying problems.
During a recent meeting, the RBI asked banks to conduct root-cause analysis of recurring complaints and identify systemic, procedural and operational deficiencies behind them.
The central bank stressed the need for banks to move beyond repeatedly resolving individual complaints and instead identify why similar grievances continue to occur.
The move is aimed at improving customer service and strengthening compliance within the banking sector. Banks have been asked to examine recurring complaints and take corrective measures to prevent their repetition.