New Delhi [India]: M. Nagaraju, Secretary of the Department of Financial Services (DFS), chaired a review meeting on Wednesday to evaluate the resolution quality of 20 randomly selected public grievances handled by Public Sector Banks (PSBs) and insurance companies.
The meeting included participation from complainants, representatives of PSBs, insurance companies, and regulatory authorities.
During the session, the DFS Secretary emphasized the directive from Prime Minister Narendra Modi during the Pragati meeting on December 26, 2024. The directive called for senior officials, including Chairpersons, Managing Directors (MDs), and Executive Directors (EDs) of PSBs and Public Sector Insurance Companies (PSICs), to review at least 20 grievance cases each month to ensure high-quality resolution.
Nagaraju highlighted that most customer complaints stem from genuine grievances and reiterated the importance of customer satisfaction as the foundation of the grievance redressal mechanism.
He further stressed that any negligence or laxity in addressing grievances not only undermines customer service but also tarnishes the reputation and brand value of the institution. He directed that all grievances be handled sincerely, positively, and within a time-bound framework.
The DFS Secretary also called for the development of technical and IT-based solutions to reduce repetitive complaints of a similar nature. Such solutions, he noted, would enhance the efficiency of the grievance resolution process and save valuable time.