MUMBAI: The Reserve Bank will launch a two-month campaign from January to resolve all grievances pending for more than a month with the ombudsman.
The RBI Ombudsman scheme helps provide cost-free redressal of customer complaints involving deficiency in services rendered by entities regulated by the RBI, if not resolved to the satisfaction of the customers or not replied within a period of 30 days by the regulated entity.
"We have been focusing on improving customer services. We have taken a large number of measures in this regard. Renewal of KYC, financial inclusion and ‘Aapki poonji, aapka adhikar’ [Your money, your right] campaigns are some of the initiatives taken in association with other stakeholders," governor Sanjay Malhotra said while announcing the outcome of the monetary policy committee meeting wherein it lowered the repo rate by 25 bps to 5.25%.
Earlier in the year, the RBI reviewed the citizens charter and provided applications for all its services online. "We are publishing the summary of our monthly disposal and pendency of various applications on the first of every month. I am happy to note that more than 99.8% of the applications are disposed of within stipulated timelines. However, in the recent past, as a result of receipt of a large number of grievances, pendency with the RBI Ombudsman has increased.” Malhotra said.
"I exhort all regulated entities to keep customers central in their policies and operations, improve customer service and reduce grievances. Further, we propose to hold a two-month campaign from January 2026 with an aim to resolve all grievances pending for more than a month with the ombudsman," Malhotra said. He also urged the support of all regulated entities in this endeavour.