Mumbai, RBI deputy governor Swaminathan J on Thursday asked top management of banks and other financial sector entities to focus on a customer-centric approach to strengthen the confidence of people in the banking system. The deputy governor held a meeting with heads of the customer service committee of the board, managing directors, executive directors in-charge of customer service verticals and principal nodal officers of major banks here.
“Discussions during the meeting revolved around approaches to address customer grievances promptly, streamlining grievance redressal mechanism, leveraging technology to enhance customer experiences, prevention of frauds and the loss mitigation, the need for creating more awareness and responsible policies to achieve excellence in customer service,” the Reserve Bank of India said in a release.
In his keynote address, Swaminathan, while emphasising the pivotal role that customer service plays in fostering trust and confidence in the financial system, stressed the focus of the top management and customer service committees of the board should be on nurturing a customer-centric approach for continuing the trust of the customer in the banking system, the RBI said.
He highlighted five key areas for the regulated entities to focus upon the need for a customer-centric approach, addressing the root cause of complaints, and the importance of resolution at the first point of contact.
The deputy governor also stressed responsible handling of complaints, including equipping front-line staff with authority, tools and training and combating cybercrime.
Further, Swaminathan emphasised the importance of cultivating a culture of continuous improvement as ensuring the quality of customer service is a journey and not a destination.
