RBI to banks: Appoint internal Ombudsman

Reserve Bank introduced the Banking Ombudsman Scheme (BOS) in 1995 to provide an expeditious and inexpensive forum to bank customers for resolution of their complaints relating to deficiency in banking services.

By: ENS Economic Bureau | Mumbai | Published:May 12, 2015 1:53 am

The Reserve Bank of India has asked all public sector banks, some private sector and foreign banks to appoint an internal ombudsman.

The internal ombudsman who would be designated Chief Customer Service Officer (CCSO) should not have worked in the bank in which he/she is appointed as CCSO, the RBI said. “The Reserve Bank 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,” it said.

While all public sector banks will have to appoint a Chief Customer Service Officer, the private sector and foreign banks which have been asked to appoint the CCSO are ICICI Bank, HDFC Bank, Axis Bank, Kotak Mahindra Bank, IndusInd Bank, Standard Chartered Bank, Citi Bank N.A. and HSBC. “These banks have been selected on the basis of their asset size, business mix, etc,” it said.

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The Reserve Bank introduced the Banking Ombudsman Scheme (BOS) in 1995 to provide an expeditious and inexpensive forum to bank customers for resolution of their complaints relating to deficiency in banking services provided by commercial banks, regional rural banks and scheduled primary co-operative banks.

From a total of 11 grounds of complaints, when the BO Scheme was introduced in 1995, BO Scheme now provides for 27 grounds of complaints/deficiencies in bank services, it said.

The RBI operates the BOS, free of cost, so as to make it accessible to all. The bank’s internal ombudsman will be a forum available to bank customers for grievance redressal before they can even approach the Banking Ombudsman. “The RBI will shortly issue detailed operational guidelines to the banks,” it said.

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