The Reserve Bank of India has set up a committee for the review of customer service standards in RBI regulated entities (REs) for examining and reviewing the state of customer service and adequacy of customer service regulations and suggest measures to improve customer service. The terms of reference of the committee, headed by former RBI Deputy Governor BP Kanungo, include evaluation of the efficacy, adequacy and quality of customer service in entities regulated by RBI vis-a-vis the existing RBI guidelines on customer service and identify gaps, if any. It will also review the emerging and evolving needs of the customer service landscape, especially in the context of evolving digital/ electronic financial products and distribution landscape and suggest suitable regulatory measures; The panel will also identify the best practices, adopted globally and domestically, in customer service and grievance redressal, especially for improvement in services rendered to retail and small customers, including pensioners and senior citizens. Further, it will suggest measures to leverage technology for enhancing customer service efficiencies.
