RBI mulls rules to improve bank’s services

Are you tired of Bank’s services and don’t know what to do ! Good news. RBI understands you and is working hard to provide you more “value for your money”.

Almost a year after RBI put in motion a process to improve banks’ customer service practices, a high-profile panel set up by the central bank in this regard is likely to submit its recommendations later this month.

Bank customers may soon expect better services and fast-track redressal of their grievances as RBI is likely to soon consider a fresh set of rules to improve the banks’ customer service practices.

Sources close to the matter said that the panel is likely to suggest a tighter vigil by RBI for banks lacking on customer service front, monetary and procedural penalties and other remedial measures to guard against such lapses.

Besides, banks may be asked to resolve various customer grievances within a pre-determined time period, they added.

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eMinds Legal is a Corporate Law Firm based in Gurgaon, India specializing in Corporate Legal, Corporate Secretarial and Compliance. The Firm comprises of a team of Corporate Lawyers and Company Secretaries with in-depth subject matter knowledge and participative industry experience of over 15 years.

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