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RBI Puts Citizens First: Trust is New Success Metric
13 Jan
Summary
- Reserve Bank of India prioritizes customer trust in its regulatory approach.
- Governor emphasizes citizen satisfaction as the ultimate success benchmark.
- Targeted campaigns address persistent customer issues like financial inclusion.
The Reserve Bank of India (RBI) has established customer trust as a cornerstone of its current regulatory strategy, signaling a significant shift in its operational philosophy. RBI Governor Sanjay Malhotra articulated that the institution's ultimate success is now measured by the satisfaction of its citizens.
This new direction is evident through a series of targeted outreach programs designed to tackle long-standing customer concerns. These initiatives aim to ensure that the benefits of the financial system directly reach the ordinary Indian, reinforcing the central bank's commitment to public welfare.
An example of this approach includes a recent campaign conducted from July to October focusing on financial inclusion and re-KYC. This effort was crucial in ensuring that bank accounts remain compliant and readily accessible to customers, underscoring the RBI's dedication to a citizen-centric financial ecosystem.
