grievance redressal mechanism in banks

RBI circular dated 27th January, 2021 on strengthening the grievance redressal mechanism in banks. Details are in the above circular.

Does’nt look like much because banks are being asked to give more disclosures on complaints against banks, recovery of costs from banks for the complaints received against them, undertaking intensive review of the grievance redressal mechanism and supervisory action against banks that fail to redress customer grievances.

For me, it looks like eyewash to fool the gullible public, because banks are totally insensitive to customer grievances. They just don’t care as long as their salaries are given to them.

In my office complex there is on ATM machine of Bank of Baroda, every time i go there to withdraw money, it asks for all the details including the PIN and the amount and then comes the message “unable to dispense cash now”. Bloody hell, if there is no cash in the machine, then why does it not pop a message immediately on inserting the card. Secondly i have tweeted against this to BOB and their MD numerous times, yet nothing seems to move them. They just don’t care.

Now after the merger of public sector banks, the internet banking portals of banks have gone haywire. Allahabad Bank has merged with Indian Bank. Post merger, i find the Indian bank site acting very funny, sometime it loads, and sometimes it does’nt login at all. After login the site hangs up frequently, and that too after entering the transaction password. How the hell are we supposed to do any digital transaction if such is the situation. The so called Digital India initiative of the PM is all crap. Backend infrastructure is all lousy. Again i have tweeted numerous times to the Indian with cc to RBI, but nary any action on this matter.

These are just two of the instances of rotten customer service by banks that come to my mind immediately. I am sure there will be many.

Its as we say in India, ram bharose zindabad!!

Leave a comment

Filed under banking laws

Leave a Reply

Fill in your details below or click an icon to log in: Logo

You are commenting using your account. Log Out /  Change )

Google photo

You are commenting using your Google account. Log Out /  Change )

Twitter picture

You are commenting using your Twitter account. Log Out /  Change )

Facebook photo

You are commenting using your Facebook account. Log Out /  Change )

Connecting to %s