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BANKING OMBUDSMEN CONFERENCE
RBI strengthens consumer grievance resolution: Banks’ internal ombudsman and RBI ombudsman system will be overhauledThe Reserve Bank of India is significantly enhancing its consumer grievance redressal system by revising its ombudsman scheme and extending...- RBI Governor wants CEOs to spend time on customer servicesRBI Governor Sanjay Malhotra expressed concerns over the rise in customer complaints and urged bank and NBFC management to prioritize griev...
- Avoid calling customers repeatedly to submit KYC docs: RBI Governor Sanjay Malhotra to banksRBI Governor Sanjay Malhotra instructed banks to avoid repeated KYC document requests from customers, emphasizing the use of a central data...
- Private banks misreporting complaints as queries, says RBI Governor Shaktikanta DasReserve Bank of India Governor Shaktikanta Das criticized private sector banks for their handling of customer complaints at a Mumbai confer...
- RBI calls upon internal ombudsmen to give inputs for enhancing processesThe conference was attended by MD & CEOs, executive directors in charge of customer service verticals, internal ombudsmen, principal nodal ...
- Kazakhstan ready to be hub for Indian investments in region, says Kazakh envoy to IndiaKazakhstan has ranked 25th in the World Bank's Ease of Doing Business Report. The country aims to enter the top 10 countries within 5 years...
- RBI Governor Shaktikanta Das urges ombudsmen to be sensitive and ensure quick resolution for consumer complaintsWhile speaking at the Annual Conference of Reserve Bank of India Ombudsmen, Das said the authority needs to strive harder to further reduce...
- Banks at times 'found wanting' prioritizing customer protection over sales target: RBI deputy governor MK Jain“Customer service and consumer protection should not be relegated to the sidelines by goals driven by hard targets and sales related incent...
- Huge incentives to staff has led to mis-selling: RBIRBI deputy governor S S Mundra blamed "challenging targets set for employees, incentive linked quotas, lack of training and fast rotation o...
- RBI asks banks to enable account number portability"Banks should look forward to providing more choices to the new generation of customers who are more technology savvy," RBI Deputy Governor...
- Reserve Bank of India to make incognito bank checksRBI officials will now visit bank branches incognito to find out if they are delivering on customer service and grievance redressal.
- RBI to visit banks incognito to check customer dealingsRBI will also undertake a review of how banks have implemented Charter of Customer Rights, the central bank said in a statement.
- RBI plans radical overhaul of customer protection normsIn measures aimed at protecting banking consumers, RBI is in the process of formulating strict guidelines to discourage lenders from mis-se...
- 'Banks need to do away with pre-payment penalty on loans'Banks should discontinue pre-payment penalty on home and auto loans and do away with the practice of imposing charges on customers for fail...
- Stop charging pre-payment penalty on home loans: RBI to RRBsThe Reserve Bank today asked Regional Rural Banks (RRBs) to stop charging penalty on pre-payment of home loans taken on floating interest r...
- RBI asks banks not to levy pre-payment charges on home loansRemoval of prepayment penalty on home loans will lead to reduction in the discrimination between existing and new borrowers.
- SBI abolishes penalty on pre-payment of housing loansState Bank of India has decided to abolish pre-payment charges on home loans, giving some succour to borrowers who want to foreclose their ...
- RBI warns banks against floating rate manipulation, prepayment feeThe Reserve Bank of India (RBI) has warned banks against taking customers for a ride by manipulating interest rates on floating rate loans.
- Prepayment penalty on home loans on way out, RBI indicatesBorrowers wanting to prepay home loans can look forward to some relief as RBI today indicated that it would scrap prepayment penalties char...
- IBA likely to submit comments on pre-payment by September-end: RBIRBI said IBA is expected to submit comments by the end of this month on the proposal to do away with pre-payment charges on home loans.
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