RBI setting up panel for improving customer services in banks
By Ankit Sharma
Jun 2, 2010
Print    Email    RSS   

The banking regulator of the country, RBI is aiming at steps to improve the condition of customer service provided in banks. A committee has been set by the apex bank in order to look into the interest rates and fees and charges set by banks on customers.

The committee would be headed by ormer Securities and Exchange Board of India (Sebi) chairman Meleveetil Damodaran. It would be looking into the issue of services being provided by banks to retail and small customers which includes pensioners too and thereby suggest an appropriate grievance redressal mechanism.

The monetary policy announcement of RBI for the FY10-11 clearly stated the issue of giving equal treatment to customers. As a result, the RBI with a motive of re visiting the process and the issue has set up a working committee for the same.

The Damodaran committee would look into the structure and performance mechanism of the grievance redressal division of banks and suggest methods to improvise the practice of resolving customer complaints.

Apart from Damodran, other members of the committee include M S Sundara Rajan, former chairman and managing director of Indian Bank, S Gopalakrishnan, former chairman and managing director of Vijaya Bank, and M V Nair, chairman of the Indian Banks' Association and chairman and managing director of Union Bank of India. Kaza Sudhakar, RBI chief general manager in-charge of the customer services department, will be the member secretary.

The Code of Bank's Commitment to Customers was issued by RBI in the year 2006.


(Comments Posted : 0) Post Your Comments
Show All Comments
 Select a product:

 Select a product:

Factors affecting car insurance premium
How Your Credit Card Can Help To Improve...
Converting credit card outstanding into a...
Prevent yourself from cheque frauds
An analysis of prepaid travel cards

Haven't you heard about FUNDS RECOVERY STATION...
Daawat*Call giℛℒ escort In ZiRaKpUr OOOOOOOOOO...
Good Morning, i forgot my FCMB Account Number and...
Radhey@09646870399 @Escoℛts In#Chandigarh...

91st Founders day of the Karnataka Bank Feb 18, 2015
Banks on strike from 25th February Feb 16, 2015
SBT bank postponed the Open House meet Feb 13, 2015
Yes bank planning to line up for credit card portfolio Feb 12, 2015
Pocket banking – new app by ICICI bank Feb 11, 2015
News Archive