The Reserve Bank of India has launched an application on its website for lodging complaints against banks and NBFCs with a view to improve customer experience in timely redressal of grievances.

RBI Governor Shaktikanta Das launched the Complaint Management System (CMS) is a software application yesterday.

Speaking at the launch, the RBI Governor said that it aims to facilitate RBI’s grievance redressal process.

Mr Das said application also improves transparency by keeping the complainants informed through auto-generated acknowledgements and enabling them to track the status of their complaints and file appeals online against the decisions of the Ombudsmen, where applicable.

He informed that the RBI also plans to introduce a dedicated Interactive Voice Response (IVR) system for tracking the status of complaints. The RBI Governor stressed that sustaining the confidence of consumers in banks and other financial service providers (FSPs) through prompt and effective grievance redressal, together with empowering customers through education is pivotal for maintaining trust in the banking system.