RBI Launches Two-Month Drive To Clear Customer Complaint Backlog: Governor Malhotra

New Delhi, Dec 6 (KNN) Reserve Bank of India (RBI) Governor Sanjay Malhotra on Friday underscored the central bank’s continued emphasis on customer-centric banking, urging financial institutions to place service quality and convenience at the heart of their operations. 

He said banks must strengthen grievance-redress mechanisms and ensure timely resolution of customer complaints, consistent with the RBI’s directives.

Two-Month Campaign to Clear Complaint Backlog

Speaking to the media after the Monetary Policy Committee (MPC) meeting, Malhotra announced a special two-month drive—from January 1 to February 28—to resolve long-pending complaints filed with the RBI Ombudsman. 

The initiative follows a notable rise in the number of grievances received, which has led to a build-up of unresolved cases.

He said the RBI typically disposes of most complaints within stipulated timelines, but the surge in filings necessitated an expedited, dedicated effort to improve customer experience.

Strengthening Customer Protection Initiatives

Malhotra said ongoing initiatives such as Re-KYC, Your Capital, and Your Rights were designed to raise customer awareness, improve transparency, and reinforce financial safeguards for consumers. 

These measures, he added, are part of the RBI’s broader push to ensure that financial institutions place the interests of customers at the core of their business practices.

(KNN Bureau)