Mumbai, July 21 -- Reserve Bank of India (RBI) Deputy Governor Swaminathan J has called on regulated entities to strengthen their Internal Ombudsman mechanisms to ensure customer grievances are resolved fairly, independently and within institutions.

Addressing the Internal Ombudsman Conference organised by the RBI in Mumbai, he said a significant number of complaints later decided in favour of customers by the RBI Ombudsman had not been referred to Internal Ombudsmen by regulated entities.

Customer Service A Shared Responsibility

Swaminathan said customer service is a shared responsibility involving boards, senior management and operational teams, with every interaction shaping customer confidence in financial institutions.

He noted t...