RBI launches CMS for online complaints against banks, NBFCs
RBI CMS is a software application to facilitate RBI’s grievance redressal processes. Members of public can access the CMS portal at RBI’s website to lodge their complaints.
Reserve Bank of India (RBI) launched a Complaint Management System (CMS) on its website on June 24, 2019. This RBI CMS has launched for lodging complaints against banks and NBFCs with a motto to improve customer experience in timely redressal of grievances. CMS portal at RBI’s website can be used to lodge complaints against any of the entities regulated by RBI.
Keeping the convenience of the customers in mind, CMS has been designed to enable on-line filing of complaints. It provides features such as acknowledgement through SMS/Email notification(s), status tracking through unique registration number, receipt of closure advises and filing of Appeals, where applicable. It also solicits voluntary feedback on the customer’s experience.
RBI goes digital
The CMS is accessible on desktop as well as on mobile devices. The RBI also plans to introduce a dedicated Interactive Voice Response (IVR) system for tracking the status of complaints. Insights from the data available from CMS can be used by banks/FSPs for designing products which meet the expectations of their customers.
• This system facilitates the regulated entities to resolve customer complaints received through CMS by providing seamless access to their Principal Nodal Officers/Nodal Officers.
• The system provides facilities for generation of a diverse set of reports to monitor and manage grievances by the Regulated Entities.
• They can use the information from CMS for undertaking root cause analyses and initiating appropriate corrective action, if required.
• The CMS also has facilities for RBI officials handling the complaints to track the progress of redressal.
• The information available in CMS could also be used for regulatory and supervisory interventions, if required.
• With the launch of CMS, the processing of complaints received in the offices of Banking Ombudsman (BO) and Consumer Education and Protection Cells (CEPCs) of RBI has been digitalized.