Abstract
“Customer service is a business need of banks and not social service.” Customer must have the right to access banking services and to the grievance redressal machinery - to banks' internal mechanism for grievance redressal as well as the Banking Ombudsman Scheme of the Reserve Bank - so that they are not 'excluded' from the banking fold. Grievances are an important input into regulatory and supervisory process for the banking industry. Therefore it is imperative to check on the working and operation of the Banking Ombudsman Scheme and to ascertain the lacking behind it. This paper makes an effort to evaluate the efficiency of customer grievance redressal management system in banking industry i.e. Banking Ombudsman. Apart for this, effort has been made to find out the way to reduce the customer complaints.
Published Version
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