If the Damodaran committee, constituted by the RBI under former chairman of Sebi M Damodaran for suggesting ways to improve the customer services in the banking industry, has its way, all the banks will be having special officers at senior level to look after customer services and grievances.
These officials will be appointed in the banks at senior positions from outside the banks. Customers will be free to lodge their grievances to them directly. These officials can direct the customer grievances for the disposal of the RBI, in case the bank is unable to redress them at their level, a source familiar with the development said.
Also, the committee has suggested for the charges which are being levied by the banks for various customer services, to be made reasonable, particularly in the case of the small valued customer. Besides, high charges for different kinds of transactions at the banks must be regulated, the committee has suggested.
Now that almost all the banks have now migrated to the core banking solution (CBS) platform, the panel has advocated that the condition that life certificate which are to be produced at the original branch of a bank where a pensioner is holding his account to draw his pension should accepted by any branch of the bank. It will help those senior citizens that have to submit life certificates as proofs of their survival to continue drawing pension. The senior citizens often find it difficult to submit the certificate in time in case they are away from the home branch.
The RBI is likely to make public the committee report early next month.
When contacted by FE, MV Nair, CMD of Union Bank who was one of the members of the committee, said, ?The committee report has been recently submitted to the RBI.?