RBI launches Complaint Management System

The Complaint Management System (CMS) is a software application launched by Reserve Bank of India on its website. It will be used for lodging complaints against banks and NBFCs with a view to improve customer experience in timely redressal of grievances.

Customers can lodge complaints against any regulated entity on the platform. These complaints will be directed to the appropriate office of the Ombudsman/Regional Office of the RBI.

The RBI is also planning to introduce a dedicated Interactive Voice Response (IVR) system to track the status of complaints.

Source: The Economic times

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