Hence, I urge all of you to sensitize your staff on effective implementation of BCSBI codes. The mental block many bank employees have is in owning up their mistakes leading to clash of egos and escalation of complaints right up to the level of President of India. All of us must be cost and time conscious when it comes to grievances redressal.
Based on data published in the annual report on the Banking Ombudsman Scheme for the year 2010 – 11 the RBI is incurring a cost of Rs. 3619 /– for every complaint handled by it through the Banking Ombudsman Scheme.