Damodaran set to head RBI panel on improving servicehttps://indianexpress.com/article/news-archive/web/damodaran-set-to-head-rbi-panel-on-improving-service/

Damodaran set to head RBI panel on improving service

Former SEBI chairman M Damodaran will head an RBI panel to review the services rendered to retail and small customers by banks and their Ombudsman scheme for addressing grievances....

Former SEBI chairman M Damodaran will head an RBI panel to review the services rendered to retail and small customers by banks and their Ombudsman scheme for addressing grievances. “The Reserve Bank of India has constituted a committee under the chairmanship of M Damodaran,former chairman,Securities and Exchange Board of India,to look into banking services rendered to retail and small customers,including pensioners,” the central bank said. The committee is expected to submit its report within four months from its first meeting.

“The committee will also look into the system of grievance redressal mechanism prevalent in banks,its structure and efficacy and suggest measures for expeditious resolution of complaints,” the RBI said. The committee would look at reviewing the existing customer service offered by banks — their approach and attitude — to customers from the retail,small and pensioners segment. The panel would review the existing system of attending to customer service in banks — approach,attitude and fair treatment to customers from retail,small and pensioners segment. “It would evaluate the existing system of grievance redressal mechanism prevalent in banks,its structure and efficacy and recommend measures for expeditious resolution of complaints,” the RBI said.