Any non observance of the RBI guidelines or bank’s code of commitment to the individual customer can be taken up first with the bank’s own consumer redressal machinery and if no satisfactory response is obtained by the customer he can complain to the Reserve Bank’s Banking Ombudsmen who have offices at 15 centres, details of which are available on the Bank’s website.
In March this year, the Committee for Payments and Settlement System (CPSS) of the Bank for International Settlements, in collaboration with the Technical Committee of the International Organisation of Securities Commission (IOSCO), reviewed the principles for FMIs, again highlighting their critical role in fostering financial stability. This review supported the Financial Stability Board initiative to strengthen core financial infrastructures and markets.