Announcing the Monetary Policy Committee (MPC) decision on Friday, Reserve Bank of India (RBI) Governor Sanjay Malhotra emphasised the need for banks and non-banking financial companies (NBFCs) to place customers at the centre of their operations.

He urged institutions to strengthen customer service frameworks and minimise grievance levels.

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Highlighting the rising volume of consumer complaints, the Governor announced a two-month special campaign, starting January 1, to clear all grievances pending for over a month with the RBI Ombudsman.

“In the recent past, due to a large number of grievances received, pendency with the RBI Ombudsman has increased. We propose to hold a two-month campaign with an aim to resolve all grievances pending for more than a month,” Malhotra said.

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