The RBI will issue the revised instructions by end of September. New Delhi: In a customer friendly move, the Reserve Bank of India on Wednesday announced steps to further strengthen the internal ombudsman mechanism in Indian banks as it looks to quickly address customer complaints. The central bank will set up an internal ombudsman (IO) as the apex authority for redressal of customer complaints. It has been decided to extend the scheme for all scheduled commercial banks excluding RRBs with 10 or more banking outlets. “It will enhance the independence of IOs and reinforce the oversight on the implementation of the IO scheme,” he added.

Source: Mint August 01, 2018 11:15 UTC