Date:02/07/2006 URL: http://www.thehindu.com/2006/07/02/stories/2006070203681500.htm

Business

RBI constitutes Customer Service Department

It will also administer the Banking Ombudsman scheme

— Photo: PTI

COMMITMENT TO CUSTOMER: The RBI Governor, Y. V. Reddy (centre), along with IBA Chairman, V. P. Shetty (left), and the Chairperson, Banking Codes and Standards Board of India, K. J. Udeshi, releasing the Code of banks' commitment to customers in Mumbai on Saturday.

MUMBAI: In an attempt to enhance the quality of customer service and strengthen the grievance redressal mechanism, the Reserve Bank of India on Saturday constituted a new department — Customer Service Department (CSD).

The functions of the CSD include dissemination of instructions or information relating to customer service and grievance redressal by banks and the RBI and overseeing the mechanism in respect of services rendered by it, the central bank said in a release.

Co-ordination

Earlier all these activities were undertaken by different departments of the RBI.

The CSD will also administer the Banking Ombudsman (BO) scheme and act as a nodal department for the Banking Codes and Standards Board of India (BCSBI), it said.

Ensuring redressal of complaints received directly by the RBI on customer service in banks will also be henceforth undertaken by this department.

The CSD will coordinate between banks, the Indian Banks Association, the BCSBI, BO offices and RBI regulatory departments on matters relating to customer services and grievance redressal. Aimed at improving better customer services and promoting fair business practices, the Banking Codes and Standard Board of India (BCSBI) in consultation with the Indian Banks' Association on Saturday released Code of Bank's Commitment to Customers (CBCC). — PTI