RBI worried over banking plaints, says guv Das

Urging the boards of banks to ensure that their products are customer-centric, RBI governor Shaktikanta Das expressed concern over grievances regarding many such products. “In a large and vibrant financial system like ours, some level of complaints is understandable. What is of concern is that still a large number of complaints pertain to traditional banking,” said Das delivering the inaugural address at the annual conference of RBI ombudsmen in Jodhpur. 

RBI concerned over rising mis-selling, pricing plaints 

Banks Must Ensure Products Are Customer-Centric, Says Das

Mumbai: RBI governor Shaktikanta Das on Friday expressed concern over grievances regarding mis-selling, disproportionately high charges, high penal rates and lack of transparency in pricing by RBI-regulated entities. The governor called upon the boards of banks to ensure that products are customer-centric and asked the banks to do a 'root cause analysis'.