Complaint Management System
- 17 Jul 2019
- 3 min read
The Reserve Bank of India (RBI) has launched the Complaint Management System (CMS) in order to improve the customer experience in grievance redressal process of banking services.
- CMS is an application (accessible on mobile and desktops) for filing complaints with RBI, on the grounds of violation under:
- Banking Ombudsman (BO) Scheme, 2006.
- Ombudsman Scheme for NBFCs, 2018
- CMS will enable individuals to submit their complaints on RBI’s website against any of the RBI regulated entities such as commercial banks, urban co-operative banks, and Non banking financial companies.
- Acknowledgement through SMS/e-mail notification(s).
- Status tracking through unique registration number.
- Receipt of closure advises and filing of appeals.
- It also asks for voluntary feedback on the customer’s experience.
- CMS Database:
- Can be used by banks/ financial service providers for designing products, which meet the expectations of their customers.
- Can be used by RBI for analytics, which can be used for regulatory and supervisory purposes.
- The Reserve Bank is also planning to introduce a dedicated Interactive Voice Response (IVR) System for tracking the status of complaints.
Banking Ombudsman Scheme, 2006
- The Banking Ombudsman Scheme provides an inexpensive forum for grievance redressal of bank customers relating to banking services rendered by banks.
- The Banking Ombudsman Scheme is introduced under Section 35 A of the Banking Regulation Act, 1949 by RBI with effect from 1995.
- Presently the Banking Ombudsman Scheme 2006 is in operation.
- The Banking Ombudsman is a senior official appointed by the Reserve Bank of India.
- All Scheduled Commercial Banks (SCB), Regional Rural Banks (RRB) and Scheduled primary co-operative banks are covered under the scheme.
- One can file a complaint before the banking ombudsman if:
- Reply is not received from the bank within a period of one month after the bank concerned has received one's complaint.
- Bank rejects the complaint.
- If the complainant is not satisfied with the reply given by the bank.