Beyond a bank's balance sheet: Customer service takes centre stage

Rankings based on redressal of customer complaints are finally making banks and insurance companies realise the importance of customers service

Pushpa Devi of Jaipur, Rajasthan, faced a long delay in receiving Rs 48,454 – her pension arrears. Despite repeated clarifications, the authorities concerned continued to ask her for the same documents. She finally turned to the Centralised Public Grievance Redressal and Monitoring System (CPGRAMS) for help. That led to prompt coordination between the pension authorities and her bank (State Bank of India). The amount was credited to her account on May 19, 2025, bringing long-awaited financial relief. 

 

Many such facts and figures do not find a place in the balance sheets and financial statements of banks and insurance companies.