RBI's Cool New Complaints System: Ombudsman in Action

Yo, listen up! The RBI just dropped some knowledge on banks and NBFCs, rollin’ out a fresh automated complaints system. This smooth operator lets the ombudsman check out complaints that got left in the dust, with tight timelines of 10 and 20 days. Banks gotta keep it real and let folks know what's poppin' in 30 days, fo' shizzle!

Quick rundown

RBI mandates automated complaint management for banks and NBFCs.
Complaints unresolved or rejected must be escalated to the internal ombudsman.
Internal ombudsman gets 10-20 days for complaint review.
Banks must classify complaints into three categories before escalation.
New guidelines aim to enhance customer service and oversight.

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