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Grievance Redressal Mechanism

2. Internal Machinery to handle Customer complaints/ grievances

2.1 Customer Service Committee of the Board

This sub-committee of the Board would be responsible for formulation of a Comprehensive Deposit Policy incorporating the issues such as operation of an account on the death of a depositor, the product approval process and the annual survey of depositor satisfaction and the tri-enniel audit of such services. This Committee shall also be responsible for examining loan policies and service issues for the individual as a borrower also. The Committee would also examine any other issues having a bearing on the quality of customer service rendered. This Committee would also review the functioning of Standing Committee on Customer Service.

2.2 Standing Committee on Customer Service

The Standing Committee on Customer Service will be chaired by the Managing Director/ Executive Director of the bank. Besides two to three senior executives of the bank, the committee would also have two to three eminent non-executives drawn from the public as members. The committee would have the following functions.

  • Evaluate feedback on quality of customer service received from various quarters. The committee would also review comments/feed-back on customer service and implementation of commitments in the Code of Bank's Commitments to Customers received from BCSBI.
  • The Committee would be responsible to ensure that the bank follows all regulatory instructions regarding customer service. Towards this, the committee would obtain necessary feedback from regional managers/ functional heads.
  • The Committee will look into the complaints received, regarding non-compliance with the code of Banking Codes and Standards Board of India.
  • The committee would consider unresolved complaints/grievances referred to it by functional heads responsible for redressal and offer their advice.
  • The committee would submit report on its performance to the customer service committee of the board at quarterly intervals.

2.3 Nodal Officer and other designated officials to handle complaints and grievances.

Bank would appoint a Nodal Officer of the rank of General Manager (or its equivalent) who will be responsible for the implementation of customer service and complaint handling for the entire bank. The bank would also appoint Customer Relation Officer, not below an Officer in Scale-III, at Regional offices, to handle complaint grievances in respect of branches falling under their control.

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