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;
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.
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