RBI to have more banking ombudsman offices this year

To improve customer service, the Reserve Bank today said it is expanding the banking ombudsman scheme and will be opening more offices this year.

"We are opening a few new offices of banking ombudsmen during the year," deputy governor S S Mundra told reporters at the customary interaction after monetary policy announcement this afternoon.

He said the central bank is also undertaking a review of the scheme, which acts as a quick way for the customers to redress their issues.

Under the scheme, the RBI has placed one of its senior officials across 15 locations to solve customer plaints at the local level.

Mundra said the practice of having internal ombudsmen at banks has already been institutionalised and the regulator is monitoring its progress on a regular basis.

Meanwhile, Mundra also said RBI is working on starting a registry for business correspondents who act on behalf of banks in deepening the reach of the banking network in an inexpensive way.

The deputy governor said RBI is also designing a framework for certifying the business correspondents.

Business correspondents are credited with making the financial inclusion agenda a success, since it was formally launched in 2012. Corporates having a deep network are also permitted to act as business correspondents.