RBI establishes Complaint Management System (CMS)

The Reserve Bank of India (RBI) has established the "Complaint Management System (CMS)" with the intent to facilitate a hassle free process for submitting grievances by the public with RBI.

With the inception of CMS it will be ease for the public to submit their grievances to RBI via utilizing the functionality of CMS portal which can be accessed at the RBI official website.

The outstanding advantage of CMS is that anybody can submit the grievance to RBI online without the necessity to go in person to concerned authorities office for filing the complaint.

 Some of the key functionalities of CMS are as follows:

•  Issuing electronic acknowledgement (via SMS/Email) of the grievance receipt to the complainant;
•  Complainant can track the complaint status with the assistance of the unique registration number issued by the CMS;
•  Issuance of the closure acknowledgement of grievance to complainant;  
•  Acceptance of appeals from the complainant; and
•  Seeking voluntary feedback from the user about the CMS functionality. 

 CMS will serve as a repository of guidelines on portal usage, videos on safe banking practices and other guidelines issued by the RBI in relation to other banking/regulatory aspects. CMS will benefit the entities regulated by the RBI in multiple ways:

•  RBI regulated entities will have easy access to their Principal Nodal Officers/Nodal Officers who will assist such entities in resolution of customer complaints received through CMS;
•  RBI regulated entities can track the progress of the grievances and monitor/manage grievances via generating reports on the grievances received with the assist of CMS functionality; and 
• These reports will lend a hand the RBI regulated entities to conduct the root cause analysis of the grievances and establish a proper course of corrective action to resolve the grievances.

CMS is a boon to RBI officials as well as it will have electronic storage of grievances that are handling by the RBI officials. Users can access the CMS application either in the computers or mobile phones.

With CMS inception, the entire process of filing, handling and disposal of grievances with the offices of Banking Ombudsman (BO) and Consumer Education and Protection Cells (CEPCs) of RBI will be stored digitally. CMS manifests RBI’s seriousness towards speedy resolution of public grievances and to augment customer satisfaction in grievance redressal process.

RBI has urged all the entities regulated under the RBI ambit to put the CMS functionality to good use in resolution of grievances in a timely manner to reinforce the public confidence in the financial system. 

The key to sustain the public confidence in the banking and financial system is to address all the consumer concerns in a responsible and timely manner via right usage of CMS functionality. 

A dedicated Interactive Voice Response (IVR) System for tracking the status of complaints to backup the CMS application in all aspects is in the making.

As part of its efforts to generate awareness about safety banking practices and other RBI customer centric policies – Videos are uploaded on the CMS portal.

The unique functionality of CMS will also enable the RBI regulated entities to evaluate the reasons for the occurrence of the grievances and to develop right course of action to elude the repeated occurrence of certain aspects resulting in consumer grievances.

Right usage of the CMS application will ensure timely resolution of the customer grievances and assist RBI regulated entities in rectifying the glitches in their customer service process and to enhance customer satisfaction. 

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