Quick Summary
As part of theStatement on Developmental and Regulatory Policiesreleased along with theMonetary Policy Statement on April 08, 2022, the Reserve Bank of India had announced setting up of a Committee for Review of Customer Service Standards in RBI Regulated Entities (REs) for examining and reviewing the state of customer service in the REs and adequacy of customer service regulations and suggest measures to improve customer service. Accordingly, the Reserve Bank of India has constituted a Committe
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FAQ :
The committee has been formed to review the current state of customer service in RBI regulated entities, assess the adequacy of existing regulations, and propose improvements.
The committee is chaired by Shri B P Kanungo, a former Deputy Governor of the RBI.
The review covers banks and Non-Banking Financial Companies (NBFCs) regulated by the RBI.
The committee will evaluate service quality, consider evolving digital financial products, identify best practices, and suggest ways to use technology for better customer service and grievance redressal.
The committee is expected to submit its report within three months of its first meeting.
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