RBI today (June 24, 2019) launched the “Complaint Management System (CMS)” to facilitate grievance redressal process. CMS portal is a software application through which public can access at RBI website to lodge their online complaints against any of the entities regulated by RBI with public interface such as commercial banks, Urban Co-operative banks, Non-Banking Financial Companies (NBFCs), etc. CMS portal is accessible on desktop as well as on mobile devices. The Reserve Bank also has a plan to introduce a dedicated Interactive Voice Response (IVR) System for tracking the status of complaints.
Salient features of CMS portal;
- CMS software provides features like acknowledgement through SMS/Email notification(s), status tracking through unique registration number, receipt of closure advises and filing of Appeals, where applicable. It also solicits voluntary feedback on the customer’s experience.
- CMS provides self-help material (in video format) to guide the users of the portal; videos on safe banking practices; and on the regulatory initiatives of RBI.
- CMS envisions improved customer convenience by providing a single window on Reserve Bank’s website for lodging complaints against any regulated entity. The complaint would be directed to the appropriate Office of the Ombudsman/Regional Office of the RBI.
- CMS can generate various reports for monitoring and managing complaints pertaining to each entity. Data from CMS can be leveraged by the Reserve Bank for analytics which can be used for regulatory and supervisory interventions, if required.
- The processing of complaints received in the offices of Banking Ombudsman (BO) and Consumer Education and Protection Cells (CEPCs) of RBI are now digitalized with the launching of CMS.
- Various dashboards provided in the application will help Reserve Bank to effectively track the progress in redressal of complaints.
RBI Governor Shri.Shaktikanta Das in a statement said that the benefit to the financial system will accrue from seamless access of CMS to the Nodal Officers of banks / Financial Service Providers (FSPs) and therefore he expect that banks / FSPs to use the data on CMS not only for reducing their Turn- around Time in resolution of complaints and strengthening their grievance redressal mechanism but also for undertaking root cause analyses with an objective of understanding their customer pain areas, behaviour and expectations so as to improve their services for maintaining customer loyalty.