Effective from 20 July 2020, the Consumer Protection Act, of 2019 replaces the more than three decades old Consumer Protection Act, of 1986. The new Consumer Protection Act 2019 seeks to revamp the process of administration and settlement of consumer disputes, with strict penalties, including jail terms for adulteration and misleading ads by firms. Among…
Customer complaints or any expression of dissatisfaction about a product or service or non-compliance to the Code of Bank’s Commitment to Customers will be dealt with courteously and within a defined time frame. The very foundation of an internal dispute resolution system relies on its capacity to provide fair, impartial, and judicious adjudication’ The Reserve…
The Reserve Bank of India in May 2015 notified all public sector banks and some private sector and foreign banks to appoint an internal ombudsman. The internal ombudsman would be designated Chief Customer Service Officer (CCSO). The CCSO should not have worked in the bank in which he/she was appointed as CCSO. The Reserve Bank…
In a speech in South Africa in 1890 Mahatma Gandhi said this: “A customer is the most important visitor on our premises. He is not dependent on us. We are dependent on him. He is not an interruption of our work. He is the purpose of it. He is not an outsider to our business.…