RBI Introduces Complaint Management System (CMS) for filing complaints against Banks and NBFCs

Narendra Kumar

04 Jan, 2021

Reserve Bank of India has launched an application name Complaint Management System (CMS) on its website for lodging complaint against bank and NBFCs with a view to improve customer experience and speedy redressal of grievances. The application was launched to give ease to the customers so that they can lodge complaints against any regulated entity with public interfaces such as Banks (Commercial, urban-cooperative banks) and Non-Banking Financial Companies.

What is Complaint Management System (CMS)?

CMS is software which manages complaints of the customers and allows businesses to improve communication, which as a result turnout into a quality relationship by improving the customer experience and delivering consistent support across channels. The software collects all the customer information in one place and flexible tools that enable the authority in reporting and tracking of complaints. Employees appointed for this purpose are equipped to resolve the customer complaint while maintaining compliance. CMS helps in flexible complaint management and redressal grievances which leaves a positive impression on a previously unhappy customer.

Complaint management software provides everything that an authority needs to improve employee workflow and resolve customer complaints.

What was the aim behind introducing CMS portal?

The aim behind introducing the Complaint management software is to resolve the customer grievances and complaints faster, as these processes require a lot of time and a lot of information which turns out into a tedious process.

Accessibility of the Complaint Management System (CMS)

A Complaint management system is accessible on both desktops as well as on the mobile. In addition to it, RBI has also planned to introduce an Interactive Voice Response(IVR) system for tracking the status of complaints. As the software was designed to entertain the online complaints of the customer by keeping in mind their convenience.

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What benefits the customers are availing after the launch of CMS software?

The customers are availing following benefits by CMS Software:

• Convenience in the mind of the customer
• Easy accessibility to check the status of complaint via desktop or mobile
• Enables the customer to file an online complaint
• Proper follow up can be taken by the customer.
• Improves Transparency by informing the customers on a regular basis
• Auto-generated acknowledgments help the customer to track the status of complaint easily
• An Appeal can be filed online against the decisions of the Ombudsmen, where the complainant is not satisfied with the decision making.
• On the basis of their experience, complainants can voluntarily share feedback in obtaining redressal. 
• It acts as an alert and aware customer can effectively guard against the risks of inappropriate selling, cheating, frauds and other such threats. 

What are the factors that are considered at the launch of the Complaint Management System?

Various factors are considered taking into view the customers ease and benefits:

• Customer-centric and Safe banking practices in regulatory initiatives.
• To focus on the core areas where the customer pain and behavior can be well understood and also enhance the services by improving customer loyalty.
• Speedy disposal of complaints by strengthening the grievance redressal mechanism.
• To guard the customer against the risks of mis-selling, cheating, frauds and other threats. 
• The Digitalization of complaint received in the office of Ombudsman and Consumer Education and Protection Cells of RBI.
  
  

What is the process to file a grievance on RBI’S Complaint Management System (CMS)?

The complaint has to follow below-mentioned steps to file a grievance on RBI’s Complaint Management System:

• Complainant has to file a complaint, by visiting CMS RBI
• After that, click on “FILE A COMPLAINT” link as CMS is accessible on desktopand mobile. Additionally, there is an application as well where the complaint can be filed, and regular tracking can be done.
• Selection of the language and entity type from the dropdown list and then ‘File a complaint with ombudsman against an eligible regulated entity.

• Enter the general details on ‘lodge complaint portal’ and click on the calendar and fill in the ‘date of complaint’ and ‘date of reply’ field. 
• The complainant has entered the complete details (for example your name, gender, age, phone number, address, etc.) and the type of complaint a person wants to make (For example is the complaint regarding e-wallet, transaction issue, etc.).Once the process is complete ‘click on next’. 
• Select the account category and the applicable bank account details. Further, enter the disputed and compensation amount involvedin’Complaint comments section’ and mention the details of the bank/person against which you want to lodge the complaint.
• Before accepting and clicking on the toggle and click on next, read the declaration information carefully that the information provided is true and fair to the knowledge of the person lodging the complaint.
• Nomination details of a person against whom the complainant had filed the grievance and enter the complete nomination details applicably.
• Upload the details by clicking the submit button, and the complaint will be filed successfully.

Conclusion

To spread awareness, the authority has placed on the CMS portal, videos on safe banking practices and other important customer-centric regulatory initiatives of RBI^[1] for the ease of the customers who are facing problems with the banks and NBFCs. The authority during the launch of Compliant Management System, further added that Banks, systematic participants and NBFCs are required to use that data on CMS for reducing the complaints and for the speedy redressal of the complaints and also the data will be used in designing the products which can meet the expectations of the respective customers and as result it will add more customer base and trust in the banks.