shaktikanta das : launch of complaint management system statement by mr shaktikanta das, governor of the reserve bank of india, on launch of complaint management system, 24 june 2019. * * * the complaint management system ( cms ), the application being launched today, symbolizes rbi ’ s commitment to improve customer experience in grievance redressal process by ensuring timely resolution of complaints received at the reserve bank. i take this opportunity to seek the co - operation of all rbi regulated entities with public interface such as commercial banks, urban co - operative banks, non - banking financial companies ( nbfcs ), etc. in resolving customer complaints in a speedy and meaningful manner to promote public confidence in the financial system. sustaining the confidence of consumers in banks and other financial service providers ( fsps ) through prompt and effective grievance redressal, together with empowering customers through education is pivotal for maintaining trust in the banking system. 2. cms envisages improved customer convenience by providing a single window on reserve bank ’ s website for lodging complaints against any regulated entity. the complaint would be directed to the appropriate office of the ombudsman / regional office of the rbi. the application also improves transparency by keeping the complainants informed through auto - generated acknowledgements and enabling them to track the status of their complaints and file appeals online against the decisions of the ombudsmen, where applicable. further, complainants can also voluntarily share feedback on their experience in obtaining redressal. 3. cms will be accessible on desktop as well as on mobile devices. the reserve bank also plans to introduce a dedicated interactive voice response ( ivr ) system for tracking the status of complaints. i am sure, with time, the customer friendly nature of the cms will be further enhanced. 4. as stated earlier, customer awareness is an enabling tool for strengthening customer protection. an alert and aware customer can effectively guard against the risks of mis - selling, cheating, frauds and such other threats. in our endeavor to spread awareness, we have placed on the cms portal, videos with young role - models, including sportspersons, on safe banking practices and other important customer - centric regulatory initiatives of the reserve bank of india. 5. the benefit to the financial system will accrue from seamless access of cms to the nodal officers of banks / financial service providers ( fsps ). cms can generate various reports for monitoring

the legislature considered that, in a small country like ours, whose human and material resources are bound to be limited, the way to achieve significant reinforcement of the resources allocated to financial stability is to develop substantial synergy between the various institutions concerned, in order to achieve the maximum economies of scale and to take the resources thus released and reallocate them to the basic functions of each institution. the law of 2 august 2002 provides that the rules governing the arrangements for pooling resources must be set out in a protocol concluded between the institutions concerned and approved by the king. without waiting for the official inauguration of the fsc, its members have agreed on a framework for exploiting synergy and have submitted proposals to the minister for achieving greater cooperation in regard to prudential policy and various support activities. the fsc has also set up a number of priority projects for the coming months, in particular the launch of a national coordination initiative on the subject of business continuity, which will take account, in particular, of the lessons which can be drawn from the events of 11 september 2001. in conclusion, i would simply say that this new committee and the far more historic institutions from which it emanates are firmly resolved that they will actively seek the solutions best suited to the general interest in the field entrusted to them, namely the field of financial stability.