Question
How many days does the directive suggest for the
auto-escalation of complaints to the Internal Ombudsman (IO) if they are partly or wholly rejected by the RE's internal grievance redress mechanism?Solution
Regulated entities (REs) and their Internal Ombudsman (IOs) should ensure that a final decision is communicated to customers within a period of 30 days from the date of receipt of complaint. This directive is aimed at improving consumer grievance redress within the regulated entities, besides improving customer service standards. Further, REs (banks, Non-Banking Financial Companies, Non-bank System Participants and Credit Information Companies) may appoint one or more Internal Ombudsman (IO) and Deputy Internal Ombudsman (DIO) depending on the volume of complaints received by them. In its Master Direction on “Internal Ombudsman for Regulated Entities”, RBI said a RE should establish a fully-automated Complaints Management Software wherein all complaints that are partly or wholly rejected by the RE’s internal grievance redress mechanism are auto-escalated to the IO within 20 days of receipt for a final decision.
Chief of Defence Staff General Anil Chauhan flagged off the 2nd edition of 'Surya Devbhoomi Challenge 2.0' in Badrinath, Uttarakhand. How long is this e...
Where is the 14th Edition of the Indo-US Joint Special Forces exercise "VAJRA PRAHAR 2023" taking place?
India’s rank in the 2024 Rule of Law Index by the World Justice Project is:
Which state has the country’s first Graphene Innovation Centre?
What does the Ministry of Tourism aim to achieve by participating in the Arabian Travel Mart 2024 in Dubai?
- The Dawei Special Economic Zone, where Russia is investing, will feature which of the following?
The Karnataka Budget for FY27 presented by Chief Minister Siddaramaiah had a total outlay of approximately:
The theme of International Day of Human Fraternity 2026 is:
How many ERASR rockets were tested during the Indian Navy trials in 2025?
World Puppetry Day is observed annually on which date?