Here are the notes on the Model Policy on Grievance Redressal bank in detail:
- Purpose: The purpose of the policy is to provide a framework for the efficient and fair resolution of customer complaints and grievances.
- Scope: The policy applies to all customers of the bank, regardless of the type of account they hold or the services they use.
- Key principles: The policy is based on the following key principles:
- Customers should be treated fairly at all times.
- Complaints should be dealt with courtesy and on time.
- Customers should be fully informed of their rights and the avenues available to them to escalate their complaints.
- The bank will treat all complaints efficiently and fairly.
- Internal grievance redressal mechanism: The bank has an internal grievance redressal mechanism that consists of the following levels:
- Branch level: The first level of redressal is at the branch level. The customer can raise their complaint with the branch manager, who will investigate the matter and try to resolve it to the customer’s satisfaction.
- Regional/zonal level: If the customer is not satisfied with the resolution at the branch level, they can escalate their complaint to the regional or zonal office. The regional or zonal office will investigate the matter and try to resolve it to the customer’s satisfaction.
- Head office level: If the customer is still not satisfied with the resolution at the regional or zonal level, they can escalate their complaint to the head office. The head office will investigate the matter and make a final decision on the complaint.
- External grievance redressal mechanism: If the customer is not satisfied with the resolution of their complaint through the internal grievance redressal mechanism, they can approach the following external grievance redressal mechanisms:
- RBI Ombudsman: The RBI Ombudsman is an independent authority that can investigate customer complaints against banks.
- Court of law: The customer can also approach the court of law to seek redressal for their complaint.
Key takeaways:
- The Model Policy on Grievance Redressal bank provides a framework for the efficient and fair resolution of customer complaints and grievances.
- The policy is based on the key principles of fairness, courtesy, timeliness, and transparency.
- The bank has an internal grievance redressal mechanism that consists of three levels: branch, regional/zonal, and head office.
- Customers who are not satisfied with the resolution of their complaint through the internal grievance redressal mechanism can approach the RBI Ombudsman or the court of law.