RBI launches new Complaint Management System

Jun 25, 2019 | by Avantis RegTech Legal Research Team

The Reserve Bank of India (RBI) on June 24, 2019, has launched a new Complaint Management System (CMS). It is a software application to facilitate RBI’s grievance redressal processes. The general public can access the CMS portal at RBI’s website to lodge their complaints against any of the entities regulated by RBI. The CMS has been designed to enable online filing of complaints. It provides features such as acknowledgement through SMS or email notifications, status tracking through unique registration number, receipt of closure advises and filing of Appeals, where applicable. 

This system facilitates the regulated entities to resolve customer complaints received through CMS by providing seamless access to their Principal Nodal Officers or Nodal Officers. The system provides facilities for generation of a diverse set of reports to monitor and manage grievances by the Regulated Entities. They can use the information from CMS for undertaking root cause analyses and initiating appropriate corrective action, if required.

The CMS also has facilities for RBI officials handling the complaints to track the progress of redressal. The information available in CMS could also be used for regulatory and supervisory interventions, if required. With the launch of CMS, the processing of complaints received in the offices of Banking Ombudsman (BO) and Consumer Education and Protection Cells (CEPCs) of RBI has been digitalized.

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