The Reserve Bank of India launched an application on its website for lodging complaints against banks and NBFCs with a view to improve customer experience in timely redressal of grievances. The Complaint Management System (CMS) is a software application to facilitate RBI’s grievance redressal process. Customers can lodge complaints against any regulated entity with public interface such as commercial banks, urban cooperative banks, Non-Banking Financial Companies (NBFCs). Keeping the convenience of customers in mind, the CMS has been designed to enable online filing of complaints. The application also improves transparency by keeping the complainants informed through auto-generated acknowledgements and enabling them to track the status of their complaints and file appeals online against the decisions of the Ombudsmen, where applicable. Data from CMS can be leveraged by the central bank for analytics which can be used for regulatory and supervisory interventions, if required. With the launch of CMS, the processing of complaints received in the offices of Ombudsman and Consumer Education and Protection Cells of RBI has been digitalized.

(Economic Times)