Utility bills payment and remittances would be handled through ATMs, kiosks or personal computers reducing both time and cost. The country’s payment system infrastructure has been strengthened to provide convenience in transfer of payments to the customers. The concept of branchless banking has opened a new avenue for efficient channeling of funds.
We also operate a grievance redressal scheme for bank customers through the Banking Ombudsmen and formulate policies for treating customers fairly. Importantly, the RBI has had a decisive influence in shaping and implementing every major economic policy in the monetary and financial sectors. The developmental role of the RBI has expanded too.