A committee appointed by the Reserve Bank of India (RBI) has issued recommendations to improve customer service standard at banks, non-banking financial companies, and other regulated institutions. According to its proposals, penal action should be taken against entities if they fail to meet the standards, while those making systemic upgrades must be incentivised.
The committee, chaired by former deputy governor B.P. Kanungo, was established in May 2022 to assess the state of customer care services, evaluate the adequacy of existing regulations, and propose measures for improvement. It submitted a report on 24 April, and the findings were published on Monday.
key concern highlighted by the committee was the lack of enforcement action against regulated entities failing to meet customer service requirements, despite a comprehensive regulatory framework.
Esta historia es de la edición June 06, 2023 de Mint Mumbai.
Comience su prueba gratuita de Magzter GOLD de 7 días para acceder a miles de historias premium seleccionadas y a más de 9,000 revistas y periódicos.
Ya eres suscriptor ? Conectar
Esta historia es de la edición June 06, 2023 de Mint Mumbai.
Comience su prueba gratuita de Magzter GOLD de 7 días para acceder a miles de historias premium seleccionadas y a más de 9,000 revistas y periódicos.
Ya eres suscriptor? Conectar
How sports became the MVP of brand building
With its emotional resonance, evolving digital capabilities and unmatched reach, sports offers brands an opportunity to create lasting legacies
What makes Indian roads the deadliest?
A road accident in Dehradun early on Tuesday last week killed six and left one critically injured—a stark reminder of Indian roads being the world's deadliest, with the highest fatalities globally.
Macrotech aims to scale digital infra business on its own
Its digital infra portfolio under Lodha Industrial and Logistics Park is 5 mn sqft across 3 warehousing & industrial parks
Amazon India relocating HQ
The company's move from World Trade Centre raises questions about how Brigade would find a new tenant
Data dive: Should RBI let the rupee weaken?
To smoothen the fluctuations in the rupee, the Reserve Bank of India (RBI) has often intervened in the markets with its kitty of foreign exchange reserves.
Hero MotoCorp's ride may be easy
Accelerating growth
Investors lose nearly ₹50 tn in 7 weeks
Broader markets also fell, with Nifty Midcap 150 down 10.7% and Nifty Smallcap 250 falling 10.1% as of Thursday
BLINDED BY A LOT OF SOAP, BUBBLES—AND TRADITION
Bertie realised that the real problem wasn't over-borrowing, but it was over-lending
High valuations won't stop investors from buying Indian equities
India stands out as a compelling growth and transformation story, largely driven by infrastructure...Stefan Hofer MD & chief investment strategist at LGT Bank Asia
Edtech cos eye skilling in nursing, healthcare
Upskilling in healthcare services has emerged as big business opportunity
