The Reserve Bank of India might soon revise the guidelines for the customer services provided by the banks. The bank is planning to keep a strict eye on the banks that do not provide proper customer services is also planning to impose strict penalties that includes monetary as well as procedural penalties on such banks.
A committee led by Mr. M Damodaram former Sebi chief said that the existing guidelines by RBI on customer services need to be amended. The panel said that such a move will strengthen the Banking Ombudsman.
The Banking Ombudsman Scheme was launched by the Reserve Bank of India to provide bank customers a platform where they can register complaints on the services provided by the banks. There are 15 offices of Banking Ombudsman across the country to facilitate the bank customers.
The panel has suggested the banks to use advanced technology in order to upgrade their customer service facilities.