RBI Governor Sanjay Malhotra Prioritises Customer Service, Launches Drives for Financial Inclusion

• RBI Malhotra said central bank focussing on improving customer services

• Financial inclusion drives launched to dispose claims and increase customer satisfaction

Reserve Bank of India (RBI) Governor Sanjay Malhotra said that the central bank has been focusing on improving customer services and has made applications available online for all services. In this regard, he said that 98.8 per cent of applications for claims have been disposed of within stipulated timelines.

Malhotra, while stating the Monetary Policy Committee’s decision, added that the central bank has taken a large number of measures to boost customer services with awareness campaigns such as re-KYC, financial inclusion and “Aapki Poonji, Aapka Adhikar”. “Earlier in the year, we reviewed our Citizens Charter too,” Malhotra said.

What Are RBI’s Financial Inclusion Campaigns?

RBI’s nationwide campaign comprising financial inclusion schemes and re-KYC initiatives was introduced to increase participation of citizens in the banking sector and for opening accounts and providing re-verification of KYC. As a part of this campaign, many banks held door-to-door services at local gram panchayat levels to enrol more people under social security schemes.

The “Aapki Poonji, Aapka Adhikar” campaign, which was an initiative of the Ministry of Finance along with the RBI, was a programme aimed at helping citizens to recover their unclaimed bank deposits. Union Finance Minister Nirmala Sitharaman, at the time of the launch of the programme, said that financial assets worth Rs 1.84 lakh crore remained unclaimed with Indian banks and regulatory bodies. Sitharaman had also said there was a need for citizens to regain access to their savings.

Today, as the RBI slashed the repo rate by another 25 basis points, it said that enough liquidity will be provided to banks to ensure rate transmission of the cut in the economy. Malhotra also pointed out that the RBI will start another drive to clear customer grievances which are pending with the central bank’s ombudsman.

Malhotra said that in the recent past, the number of grievances and pendency of applications with the RBI’s Ombudsman had increased. The RBI has stepped up its accountability standards by publishing monthly summaries of the number of applications pending and disposed of.

A report by India’s central bank showed that complaints under RBI’s Integrated Ombudsman Scheme rose nearly 13.6 per cent to 13.3 lakh during April 1, 2024 and March 31, 2025. Out of the total complaints that the RBI received, those related to loans and advances rose the most, by 29.3 per cent in FY25.

“I exhort all regulated entities to keep customers central in their policies and operations, improve customer service and reduce grievances,” the Governor said, and urged banks and non-banking financial companies to fully cooperate with the upcoming grievance-resolution campaign.