RBI has set up a committee to evaluate the efficacy,

Solution

RBI has set up a committee to evaluate the efficacy, adequacy and quality of customer service in banks, NBFCs, and other entities regulated by it. The six-member committee headed by former RBI deputy governor B P Kanungo has been asked to submit a report within three months from the date of its first meeting. It will also review the emerging and evolving needs of the customer service landscape, especially in the context of evolving digital/ electronic financial products and distribution landscape and suggest suitable regulatory measures. Other members of the panel are: A K Goel (Chairman IBA and MD & CEO, PNB), A S Ramasastri (former Director, IDRBT), Amitha Sehgal (Hon. Secretary, AIBDA), Rajeshri N Varhadi (Professor, University of Mumbai), and Anil Kumar Sharma (Executive Director, RBI).