Budget 2015: Unified grievance redressal agency on the anvil
As part of budget proposals, Jaitley announced the setting up of a Task Force for establishing a “sector-neutral” Financial Redressal Agency.
By Preeti Kulkarni, | Updated:
Soon, you could have access to a one-stop shop, or agency, for addressing grievances against all financial service providers.
As part of budget proposals, Finance Minister Arun Jaitley announced the setting up of a Task Force for establishing a “sector-neutral” Financial Redressal Agency that will address all grievances related to financial services.
“The focus is on trying to make processess simpler for consumers. Instead of having to knock on the doors of multiple forums, customers, especially those who are not financial literate, can approach just one agency,” said Arvind Laddha, CEO, Vantage Insurance Brokers.
The details on the functioning of the agency are yet to be spelt out. “Presumably, they will have experts from all fields to deal with varied customer queries,” said certified financial planner Pankaj Mathpal, CEO, Optima Money Managers.
As part of budget proposals, Finance Minister Arun Jaitley announced the setting up of a Task Force for establishing a “sector-neutral” Financial Redressal Agency that will address all grievances related to financial services.
“The focus is on trying to make processess simpler for consumers. Instead of having to knock on the doors of multiple forums, customers, especially those who are not financial literate, can approach just one agency,” said Arvind Laddha, CEO, Vantage Insurance Brokers.
The details on the functioning of the agency are yet to be spelt out. “Presumably, they will have experts from all fields to deal with varied customer queries,” said certified financial planner Pankaj Mathpal, CEO, Optima Money Managers.
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