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RBI Governor Criticizes Private Banks' Handling of Customer Complaints

CosmicTaco · 2024-11-19T12:51:51.569287+05:30

- RBI Governor Shaktikanta Das criticizes private banks for misclassifying customer complaints as queries, undermining trust. - Urges banks to adopt genuine customer-centric approaches and improve grievance redress mechanisms. - Highlights issues like forced bundling of products and non-transparent service charges, calling for stronger governance and ethical conduct. Source: [The Times Of India](https://timesofindia.indiatimes.com/business/india-business/private-banks-misreporting-complaints-as-queries-shaktikanta-das/articleshow/115431943.cms), [The Economic Times](https://economictimes.indiatimes.com/markets/stocks/news/guv-raises-concerns-over-nature-of-complaints-against-private-banks/articleshow/115431859.cms)

RBI Governor Shaktikanta Das criticizes private banks for misclassifying customer complaints as queries, undermining trust.
Urges banks to adopt genuine customer-centric approaches and improve grievance redress mechanisms.
Highlights issues like forced bundling of products and non-transparent service charges, calling for stronger governance and ethical conduct.

Source: The Times Of India, The Economic Times