Thursday, March 22, 2012

Banking Ombudsman: Slipping Badly

.............On one hand, RBI has deregulated rates and charges and does nothing about the rampant mis-selling of insurance and other products by banks. On the other, stricter account-opening and KYC rules as well as linkages, electronic payments of bills or auto debit on loans and mortgages, make it difficult for customers to switch banks. We need proactive BO to hear customer issues, dispense justice and also provide feedback to RBI to frame better regulation. Is RBI listening?

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