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    Customer Care and Quality: Financial Services and System

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    Amit Pandey
    This document discusses customer care and grievance redressal mechanisms in the banking sector. It outlines recommendations from the Goiporia Committee on improving customer service. Financial institutions must implement customer care measures like prompt attention, gifts for customers, and investment advice. The document also describes the Banking Ombudsman Scheme where an impartial ombudsman can investigate customer complaints, call hearings with the bank and customer, and order compensation if the bank's decision was wrong. The scheme provides an affordable way for customers to get grievances addressed.

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    Customer Care and Quality: Financial Services and System

    Uploaded by

    Amit Pandey
    15 views7 pages
    This document discusses customer care and grievance redressal mechanisms in the banking sector. It outlines recommendations from the Goiporia Committee on improving customer service. Financial institutions must implement customer care measures like prompt attention, gifts for customers, and investment advice. The document also describes the Banking Ombudsman Scheme where an impartial ombudsman can investigate customer complaints, call hearings with the bank and customer, and order compensation if the bank's decision was wrong. The scheme provides an affordable way for customers to get grievances addressed.

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    MarketingofFS_09chp9

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    This document discusses customer care and grievance redressal mechanisms in the banking sector. It outlines recommendations from the Goiporia Committee on improving customer service. Financial institutions must implement customer care measures like prompt attention, gifts for customers, and investment advice. The document also describes the Banking Ombudsman Scheme where an impartial ombudsman can investigate customer complaints, call hearings with the bank and customer, and order compensation if the bank's decision was wrong. The scheme provides an affordable way for customers to get grievances addressed.

    Copyright:

    Attribution Non-Commercial (BY-NC)
    Download as PPT, PDF, TXT or read online from Scribd
    Download as ppt, pdf, or txt
    15 views7 pages

    Customer Care and Quality: Financial Services and System

    Uploaded by

    Amit Pandey
    This document discusses customer care and grievance redressal mechanisms in the banking sector. It outlines recommendations from the Goiporia Committee on improving customer service. Financial institutions must implement customer care measures like prompt attention, gifts for customers, and investment advice. The document also describes the Banking Ombudsman Scheme where an impartial ombudsman can investigate customer complaints, call hearings with the bank and customer, and order compensation if the bank's decision was wrong. The scheme provides an affordable way for customers to get grievances addressed.

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    You are on page 1of 7

    Chapter 9 : Marketing of Banking and Financial Services

    Customer Care and Quality


    Financial Services and System
    Sasidharan & Mathews

    Customer Care
    Need for customer care Goiporia Committee recommendations on customer care in banking system Customer Grievance Redressal Maechanism
    SEBI Guidelines RBI Guidelines IRDAGuidelines

    Ombudsman Scheme
    Banking Insurance
    2

    Need for Customer Care

    Customer

    There is a saying:

    Customer

    Customer

    One satisfied customer brings in10 more customers, but one dissatisfied customer may take with him not 10, probably 100 customers

    Customer Customer Customer

    Customer

    Customer care measures


    Immediate attention at the counters

    Gifts during special occasions


    New Year/ Birthday Greetings News letter Providing allied services like payment of utility charges, tax consultations, investment advices etc.

    Prompt and speed grievance redressal machinery

    Customer Grievance Redressal


    Suggestion/ complaint boxes

    Special time zones for listening to customer


    complaints Designating senior official to deal with customer complaints Acknowledging complaints and initiating immediate action Banking Ombudsman scheme

    Banking Ombudsman Scheme


    Scheme was introduced in 1995 A respectable person who is conversant with banking rules and practices is appointed as Ombudsman Generally retired senior officials of RBI or public sector banks are appointed as Ombudsman

    The aggrieved customer has to send his complaint to the top management of the concerned bank
    If no reply is received after a reasonable period, a complaint can be filed with the Ombudsman in the prescribed form. The complaint has to be filed with the Ombudsman under whose jurisdiction the banks head office functions.
    6

    Banking Ombudsman Scheme


    The Ombudsman will collect data from the bank The customer and the bank officials may be called for a personal hearing also If the Ombudsman finds that the banks decision was wrong, he can order the bank to pay compensation to the customer

    The bank cannot challenge the order of Ombudsman in any court of law unless the order is against the provisions of any law or its implementation would result into contravention of any directions issued by RBI.
    The scheme is a costless system of customer grievance redressal since the customer can appear himself for the hearing.
    7

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