New Delhi, Dec 13 (KNN) Rating of personal sector insurers on the idea of their efficiency in well timed dealing with of grievances is within the pipeline following related train for state-owned banks and insurance coverage firms, and personal banks.
Ministry of Finance in a press launch mentioned that the rating of public sector banks, non-public sector banks and public sector insurance coverage firms in June 2025 primarily based on high quality and well timed redressal of grievances has considerably improved their efficiency
“Rating of personal sector insurers are additionally within the pipeline,” the Finance Ministry mentioned.
As per the official launch, the Division of Monetary Providers (DFS) underneath Ministry of Finance has been endeavor a number of key initiatives aimed toward streamlining the method of grievance redressal mechanism in Banking, Monetary Providers and Insurance coverage (BFSI) sector.
The DFS has additionally initiated ‘Monetary Establishments Interplay Program’ from this month whereby conferences are held with chosen organisations primarily based on grievances obtained in Centralised Public Grievance Redress and Monitoring System (CPGRM) portal.
As a primary step, Non-Banking Monetary Corporations (NBFCs) have been chosen for this train.
First spherical of CPGRAM workshops on efficient grievance redressal mechanism with all of the state-run banks has been accomplished for the 12 months 2025.
The DFS mentioned that the workshops helped the organizations to successfully sort out root explanation for grievances thereby making certain qualitative decision of varied points.
A workshop with insurance coverage regulator Insurance coverage Regulatory and Growth Authority of India (IRDAI) and grievance redressal officers of insurance coverage firms are scheduled to be held on December 19, 2025.
To DFS famous that so as to be sure that department workers of public sector banks present the very best ranges of service to the purchasers and guests, all of the banks have been suggested to plan a mechanism to gather suggestions on buyer providers by means of the assistance of know-how (Voice chat, e-mail, QR code and so forth.).
(KNN Bureau)
Leave a Reply