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Corporate Laws Central Ministry of Finance Reserve Bank of India Act, 1934

Strengthening of Complaint / Grievance Redressal Mechanism in Rural Cooperative Banks

06-Aug-2024 | Circular No. 150/IDD-03/2024

NABARD has issued a circular in reference to circular No.97/DoS-20/2007 dated 12 June 2007 read with Circular No. 163/DoS-20/2016 dated 13 July 2016 and Circular No. 203/IDD-14/2016 dated 25 August 2016.

Through this circular, the Turn Around Time (TAT) for redressal of complaints has been reduced and accordingly the no. of days for addressing / resolving the grievance / complaints is 30 days now.

Further, the circular provides certain norms to strengthen Grievance / Complaint redressal mechanism in RCBs.

The banks may confirm the actions taken by 31 August 2024 to RO, NABARD

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