https://www.taxtmi.com/news?id=27400 Protection of consumer interests is a core regulatory principle requiring regulated entities to prioritise fair treatment, transparency, and effective grievance redress. The Reserve Bank's approach relies on the Integrated Ombudsman Scheme and functioning Internal Ombudsmen to ensure impartial, timely resolution; promotes use of data analytics and technology for prevention and root cause analysis; warns of privacy and AI risks requiring safeguards; and calls for enhanced consumer education, staff capacity building, and reasoned, transparent decision making by Ombudsman offices. en-us Fri, 15 Mar 2024 18:14:27 +0530 Fri, 15 Mar 2024 18:14:27 +0530 TaxTMI RSS Generator https://www.taxtmi.com/news?id=27400 Protection of consumer interests is a core regulatory principle requiring regulated entities to prioritise fair treatment, transparency, and effective grievance redress. The Reserve Bank's approach relies on the Integrated Ombudsman Scheme and functioning Internal Ombudsmen to ensure impartial, timely resolution; promotes use of data analytics and technology for prevention and root cause analysis; warns of privacy and AI risks requiring safeguards; and calls for enhanced consumer education, staff capacity building, and reasoned, transparent decision making by Ombudsman offices. News - Fri, 15 Mar 2024 18:14:27 +0530 https://www.taxtmi.com/news?id=27400