RBI has asked all public sector and large private banks to appoint the ombudsman
GN Staff | May 12, 2015
In the interest of consumers, the Reserve Bank of India has asked all public sector and large private banks to appoint internal ombudsman.
"The internal ombudsman would be designated Chief Customer Service Officer (CCSO)," it said, adding the CCSO should not have worked in the bank in which he/she is appointed as CCSO.
The central bank said it has taken this initiative "to further boost the quality of customer service and to ensure that there is undivided attention to resolution of customer complaints in banks".
The RBI had introduced the Banking Ombudsman Scheme (BOS) in 1995 to provide an expeditious and inexpensive forum to bank customers for resolution of complaints relating to deficiency in banking services.
While all public sector banks will have to appoint a CCSO, the private sector and foreign banks which have been asked to make the appointment include: ICICI Bank, HDFC Bank, Axis Bank, Kotak Mahindra Bank, IndusInd Bank, Standard Chartered Bank, Citi Bank N.A. and HSBC.
The private and foreign banks have been selected on the basis of their asset size, and business mix, among other parameters.
RBI is yet to release guidelines on how the CCSO will work, but said the internal ombudsman will be a forum available to a bank’s customers for grievance redressal before they approach RBI’s banking ombudsman.
Ramin Jahanbegloo is a renowned philosopher who is now associated with the Jindal Global University. His latest work, The Decline of Civilization, calls for countering the ‘decivilising’ tendencies of our times by returning to Gandhi and Tagore. Jahanbegloo answered s
Should CBSE prepone the board exams?
In this nationalistic age, sports seem to play an important role, and in India, this can be seen during cricket matches. For most, a victory symbolises prestige and supremacy. On Sunday, India lost to Pakistan in the final match of the ICC Champions Trophy. The defea
“I am from a poor family” written with red paint on a yellow background outside homes that draw ration under the NFSA in Rajasthan’s Dausa district is a clear case of human rights violation. Poverty in itself is a human rights issue as the poor face malnut
Prime minister Narendra Modi’s July 5-6 visit to Israel will be of “huge importance”, stressed Israeli ambassador Daniel Carmon who added that his country is ready to offer New Delhi whatever it requires for joint defence production under the Make in India initiative. “We
Media trials, under the guise of debates, have become the new normal today. These ‘media debates’, which seem more like screaming matches, completely overlook the nuances of the issue being discussed, said justice HL Dattu, chairperson, National Human Rights Commission (NHRC) at a workshop in B