Shri M. Nagaraju, Secretary, Department of Financial Services (DFS), chaired a meeting today and reviewed 20 randomly-selected public grievances resolved by Public Sector Banks (PSBs) and insurance companies to assess resolution quality. The meeting was also attended by complainants, PSBs, insurance companies and regulators.

At the outset, DFS Secretary reiterated the Prime Minister’s direction given in Pragati meeting held on 26^th December 2024 that all the Senior officers at the level of Chairman/ MD/ ED of PSBs/PSICs should review atleast 20 cases to monitor quality of resolution of the resolved grievances every month.

During the review meeting, the DFS Secretary observed that the majority of customers raised complaints due to genuine grievance against an organisation, and stressed that customer satisfaction is at the heart of the grievance redressal mechanism.

Shri Nagaraju also stressed that any laxity/ negligence in grievance redressal is against the ethos of customer service and diminishes the reputation/ brand value of the organisation and directed that the public grievances be addressed sincerely and positively in a time-bound manner.

DFS Secretary also stressed upon devising suitable technical/IT solutions to minimise the repetitive complaints of a similar nature which would save time of resolution and increase the efficiency of resolution process.

Grievance redressal: senior-level reviews and IT solutions to improve customer satisfaction and time-bound resolution. Department of Financial Services requires senior-level review of sampled resolved grievances by Public Sector Banks and insurance companies to monitor resolution quality, emphasising that customer satisfaction is central, grievances must be addressed sincerely and time bound, and that technical/IT solutions should be implemented to reduce repetitive complaints and improve efficiency.