(MENAFN- KNN India) Mumbai, Mar 21 (KNN) An Ombudsman works in a quasi-judicial manner, so following the principles of natural justice is essential when addressing customer complaints, stated Former Chief Justice of India (CJI) Dipak Misra.
Delivering the keynote address at the Annual Conference of RBI Ombudsmen on March 15, 2024, Misra delved into the intricacies of the Reserve Bank – Integrated Ombudsman Scheme, 2021, highlighting the broadening of the 'deficiency in service' concept, centralisation, and the emphasis on procedural justice.
He underscored the importance of increasing customer awareness about the scheme's benefits, such as the ability to file complaints from anywhere, automatic acknowledgment of online complaints, real-time tracking, and closure communication intimating the Ombudsman's decision.
The conference was inaugurated by RBI Governor Shaktikanta Das and centred on the theme“Protecting the Consumers – Building Robust Systems and Procedures.”
Deputy Governors M. Rajeshwar Rao and Swaminathan J highlighted RBI's consumer protection initiatives and stressed a customer-centric approach in product design and grievance redress mechanisms at regulated entities.
The conference featured discussions on global perspectives in grievance redress and building resilient systems for fraud prevention and detection. It concluded with an interactive session among the Ombudsmen, fostering collaboration and exchange of insights.
The event saw the participation of top executives including Chairpersons, Managing Directors, and CEOs representing regulated entities such as major banks, NBFCs, Non-bank Payment System Participants, and NPCI. Additionally, senior officials from RBI, along with RBI Ombudsmen and Deputy RBI Ombudsmen, were in attendance.
(KNN Bureau)
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