The Reserve Bank of India (RBI) has launched Complaint Management System (CMS), on its website for facilitating RBI’s grievance redressal process. It is a software application launched by RBI for lodging complaints against any regulated entity with a public interface such as commercial banks, urban cooperative banks (UCBs), Non-Banking Financial Companies (NBFCs). Objective: To facilitate RBI’s grievance redressal process and also to improve customer experience in timely redressal of grievances. Need: For maintaining trust and sustaining the confidence of consumers in the banking system and other financial service providers (FSPs), prompt and effective grievance redressal mechanism together with customers’ empowerment through education is a must. Keeping convenience of customers in mind, RBI has designed CMS in a way to enable online filing of complaints. Once the complaint is registered it would be directed to the appropriate office of Ombudsman or Regional Office of RBI. The application has the feature of keeping complainants fully informed via auto-generated acknowledgments and enabling them to track the status of their complaints as well as to file appeals online against the decisions of Ombudsmen, where applicable. Thus help improving transparency in the system.
The application is also provided with various dashboards which will help RBI to effectively track progress in the redressal of complaints.
Complainants can also voluntarily share feedback on their experience in obtaining redressal thus helping the service provider to further improvise its services.
CMS will be accessible on desktop and on mobile devices. In the future, RBI also plans to introduce a dedicated Interactive Voice Response (IVR) system for tracking the status of complaints. RBI can leverage the data from CMS for analytics purpose, which can then be used for regulatory and supervisory interventions if required.