In 2011 the compensation of top executives in the five largest banking groups decreased by an average of 25 per cent compared with the previous year; for the first fifteen listed groups, the decrease came to 20 per cent, net of severance packages.
The policy ensures that commercial banks and licensed credit institutions put in place processes and procedures that will enable the effective and efficient management of complaints by the public. The banks and licensed credit institutions are encouraged to conduct public awareness about their complaints management processes. The Reserve Bank encourages the consumers to raise their complaints with the commercial banks and licensed credit institutions.