We just cannot leave it to the care of the market forces and competition and expect them to serve the cause of the consumers. The standards and codes setting bodies must evaluate the quality and effectiveness of consumer care measures including the financial education initiatives taken by the service providers.
The Ombudsmen need to move out of their Offices to spread awareness about existing redress systems available within the framework of the financial services industry. All the initiatives must be aimed at empowering the customer to be able to make a studied and reasonable choice of a financial product or service.