This increase could be attributed to the complainants tending to approach the Ombudsman’s office or RBI directly instead of first approaching the concerned bank’s internal machinery for redressal. There is an urgent need for banks to strengthen their own internal grievance redressal machinery and set up nodal officials at various  BIS Review 57/2006  3  centres.
One of the most important lessons from that crisis, as concluded in the different evaluation reports, was the absence of a system-wide view. Systemic risks can be regarded as some kind of coordination problem or market failure, which macroprudential policies try to adjust.