Ministry of Finance has announced to strengthen and streamline the grievance redressal mechanism in the Banking, Financial Services and Insurance (BFSI) Sector. Through this, citizens can directly raise concerns against the BFSI sectors, thereby helping to build greater customer trust in the financial sector.

All banks have been advised to devise a mechanism to collect feedback on customer services through the help of technology, through Voice chat, email, QR code, etc, to ensure that branch staff of Public Sector Banks provide the highest levels of service to the customers and visitors. This will strengthen the grievance redressal mechanism by increasing focus on faster turnaround time, transparent communication between customer and their organisations and an increase in customer service training in the organisations.