The Reserve Bank of India (RBI) organised the Annual Conference of RBI Ombudsmen on March 17, 2025, in Mumbai. The theme of the Conference was “Transforming Grievance Redress: The AI Advantage”. It was attended by Managing Directors & CEOs of major banks, Non-Banking Financial Companies, Non-bank Payment System Operators, Credit Information Companies, RBI Ombudsmen and senior officials of RBI.
The Governor, in his inaugural address, highlighted the significant strides in improving banking services over the years. He, however, emphasised the need for significantly enhancing customer experience so as to obviate any need for grievance redressal. He exhorted the Regulated Entities to strengthen their internal grievance redress framework to effectively address grievances at their level and avoid escalation of grievances to the RBI ombudsman. He also highlighted the need for improving the KYC processes and raising customer awareness, specially about digital frauds.
