Koyel Ghosh, LL.M, Brainware University in Kolkata
ABSTRACT
The most crucial tool for long-term business growth in the current banking system is superior customer service. Any corporate body must deal with customer complaints as part of daily operations. Given that banks are service businesses, this is especially true for them. Despite numerous actions taken by the banks on the advise of the Reserve Bank of India, the number of complaints against banks over the quality of their services has been rising over time. There is enormous pressure on banks to meet the diverse needs of the consumers because the role of banks has evolved from "Class Bank" to "Mass Bank." Although the number of complaints submitted through this forum has increased recently, the customers' lack of awareness was a major worry. The situation is much brighter today because to several aggressive actions taken by the RBI and awareness initiatives run by the Ombudsman. In this context, an analysis of the Banking Ombudsman Scheme's performance has been made. As a result, the current paper provides a thorough examination of the development and trend of the Banking Ombudsman Scheme, particularly with regard to customer complaints in India. The study uses both primary and secondary data and is entirely empirical in nature.
Keywords: Bank Performance, Banking ombudsman, Customer Redressal, Consumer or Customer, Complaints, Grievances.
