https://www.taxtmi.com/news?id=21852 The Reserve Bank advances consumer protection through apex-level Ombudsman Schemes for banks, NBFCs and PPI providers, an internal grievance architecture including Internal Ombudsmen, and the Consumer Education and Protection Department to address information asymmetries and unfair treatment. Regulatory measures mandate improved disclosures, security upgrades and the Framework on Limiting the Liability of Customers in Unauthorized Electronic Banking Transactions, allocating onus for contributory negligence to banks. Expectations include timely grievance disposal, transparency by banks/FSPs, management engagement, use of data analytics, and deployment of an integrated Complaint Management System. en-us Mon, 05 Aug 2019 18:23:47 +0530 Mon, 05 Aug 2019 18:23:47 +0530 TaxTMI RSS Generator https://www.taxtmi.com/news?id=21852 The Reserve Bank advances consumer protection through apex-level Ombudsman Schemes for banks, NBFCs and PPI providers, an internal grievance architecture including Internal Ombudsmen, and the Consumer Education and Protection Department to address information asymmetries and unfair treatment. Regulatory measures mandate improved disclosures, security upgrades and the Framework on Limiting the Liability of Customers in Unauthorized Electronic Banking Transactions, allocating onus for contributory negligence to banks. Expectations include timely grievance disposal, transparency by banks/FSPs, management engagement, use of data analytics, and deployment of an integrated Complaint Management System. News - Mon, 05 Aug 2019 18:23:47 +0530 https://www.taxtmi.com/news?id=21852