The Reserve Bank of India has set up a six-member committee headed by former Deputy Governor, B. P. Kanungo, to review customer service standards in entities regulated by it.

The committee will evaluate the efficacy, adequacy and quality of customer service in regulated entities (REs) vis-à-vis the existing RBI guidelines on customer service, identify gaps, if any, and suggest measures to improve customer service.

The committee will review the evolving needs of the customer service landscape, especially in the context of evolving digital/ electronic financial products and distribution landscape and suggest suitable regulatory measures.

The committee will identify best practices adopted globally and domestically in customer service and grievance redressal, especially for improvement in services rendered to retail and small customers, including pensioners and senior citizens.

Further, it will suggest measures to leverage technology to enhance customer service efficiencies, upgrade the internal grievance redressal mechanism in REs and strengthen RBI’s overall consumer protection framework.

The central bank said the committee will submit its report within three months from the date of its first meeting.

Besides Kanungo, the committee comprises AK Goel, Chairman, Indian Banks’ Association and MD & CEO of Punjab National Bank; AS Ramasastri, former Director, Institute for Development and Research in Banking Technology; Amitha Sehgal, Honorary Secretary, All India Bank Depositors’ Association; Rajeshri N Varhadi, Professor, Department of Law, University of Mumbai; and Anil Kumar Sharma, Executive Director, RBI.

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