Ombudsmen and the regulated entities need to identify the root causes of persisting customer complaints and take necessary systemic measures to correct them, Reserve Bank Governor Shaktikanta Das said on Friday. Speaking at the annual conference of RBI ombudsmen, Das said the resolution of customer complaints by the regulated entities (REs) and the RBI ombudsmen have to be fair and quick.

 

“Even as the financial landscape evolves and transforms, the underlying principles for good customer service and customer protection namely, transparency, fair pricing, honest dealings, responsible business conduct, protection of consumer data and privacy, etc continue to be relevant. Together, we can all make a difference to the customers,” he said. Observing that the ombudsman can bring about far-reaching and meaningful changes in enhancing customer experience, he said, it also demands exceptional vigilance and preparedness on their part to identify speedily the causes of concern, novel modus operandi of frauds and address the issues. “We also need to reduce turnaround times (TATs) without compromising on the quality of our resolution,” he said.