Background:
Protection of customer interest continues to be a top priority of the Regulator and the Ombudsman Scheme is a significant measure for redressal of grievances of customers in banks, NBFCs and PSOs. Tremendous increase in the networks of these entities, complexities of products & services and technological challenges have often resulted in deficiency of services. Further, to address the issues of unequal treatment of customers across entities and to strengthen grievance redressal mechanism for customers, the Reserve Bank of India launched the Integrated Ombudsman Scheme (RB-IOS). Although ‘One nation, One Ombudsman’ has been generally effective in dealing with customer complaints, instances of delay in addressing customer grievances, issues in implementation of rulings by the quasi-judicial authority on the one hand, and challenges faced by the Ombudsman, continue. There is thus a requirement to provide a platform highlighting the regulator’s expectations and an interactive forum of ombudsmen, flagging the difficulties faced by them.
Objective:
The Conference would provide insights into the regulator’s perspective on the functioning of the Ombudsman Scheme. It would also provide an interactive forum to the participants to help ideate on improving customer service, challenges and issues faced by IOs and need for better data analytics for quality disposal within the given regulations. This Conference also aims to provide an opportunity to the participants to interact with the regulator to highlight the issues faced and discuss suggestions for further improvement in the Scheme.
Conference Highlights:
The Conference will deal with the following:
- Issues in qualitative & sustainable customer service standards - Expectations of the Regulator
- Enhanced mechanism for grievance redressal – experience sharing
- Significance of data analytics in strengthening grievance redressal mechanism
- Significance of financial education of customers – strategy and business impact
- Quasi-Judicial role of Ombudsmen – Challenges