Combatting cybercrime key element in nurturing trust: RBI Dy governor

The Reserve Bank of India (RBI) Deputy Governor, Swaminathan J, on Thursday emphasised the importance of combatting cybercrime and training the front-line staff in upholding customers' trust in the banking system during its meeting with senior officials of major banks and RBI.

The Deputy Governor held a meeting with heads of the Customer Service Committee of the Board, managing directors, executive directors in charge of customer service verticals, and the principal nodal officer of top banks on Thursday.

According to the Deputy Governor, the key area of focus for the banks must be a customer-centric approach, addressing the root cause of complaints, importance of resolution at the first point of contact, responsible handling of complaints, including equipping front-line staff with authority, tools and training, and combatting cybercrime.

Further, the meeting also discussed various methods to address customer complaints promptly, such as streamlining the grievance redressal system, enhanced usage of technology, prevention of frauds, and loss mitigation, coupled with creating more awareness and formulating responsible policies to achieve excellence in customer service.

The executive director and other senior officials of the Consumer Education and Protection Department of RBI also attended the meet.