Customer-first: RBI units up assessment panel

The Reserve Bank of India has arrange a committee for the assessment of customer support requirements in RBI regulated entities (REs) for analyzing and reviewing the state of customer support and adequacy of customer support rules and counsel measures to enhance customer support.

The phrases of reference of the committee, headed by former RBI Deputy Governor BP Kanungo, embody analysis of the efficacy, adequacy and high quality of customer support in entities regulated by RBI vis-a-vis the prevailing RBI pointers on customer support and determine gaps, if any. It may also assessment the rising and evolving wants of the customer support panorama, particularly within the context of evolving digital/ digital monetary merchandise and distribution panorama and counsel appropriate regulatory measures;

The panel may also determine one of the best practices, adopted globally and domestically, in customer support and grievance redressal, particularly for enchancment in companies rendered to retail and small clients, together with pensioners and senior residents. Further, it can counsel measures to leverage know-how for enhancing customer support efficiencies.