An important milestone in strengthening the grievance redressal mechanism available to bank customers was the institutionalisation of the Internal Ombudsman (IO) mechanism in 2015 in all public sector banks, select private sector and foreign banks.
While the consultations are ongoing, today we have a unique opportunity to discuss various experiences from a diverse set of countries, such as Czech Republic, Denmark, and New Zealand. I am especially excited to have Mr Duncan Mills from the Reserve Bank of New Zealand with us today.