Of these, the financial sector has a comparative advantage in offshore borrowing, because of the relatively high credit rating of Australian banks, both compared with Australian corporations and, in recent years, with banks in other countries. Banks in Australia have therefore established a significant role in intermediating the flow of funds from overseas to Australia.
Customer awareness, education and interactive communication campaigns can go a long way in redressing and minimizing such grievances. Banks and RBI alike have established help desks, may I help you counters, grievance redressal cells and citizen’s charters to disseminate information with that objective in mind.