The Bank is also active in consumer protection and financial literacy. The importance of the consumer protection and financial awareness needs no emphasis here. It aims to empower the consumer so that they transact in the financial sector with confidence. In keeping with this, the Reserve Bank created a Unit to be responsible for Financial Consumer Complaints and Literacy matters.
1 The holder of a deposit has a completely liquid claim on the bank – the full face value of the deposit can be drawn on at any time, for any purpose. Yet deposits are primarily invested in assets, namely bank loans, which, typically, are not particularly liquid and have long maturities.