Sucheta Dalal :Making Banks Accountable to Retail Customers
Sucheta Dalal

Click here for FREE MEMBERSHIP to Moneylife Foundation which entitles you to:
• Access to information on investment issues

• Invitations to attend free workshops on financial literacy
• Grievance redressal


You are here: Home » Current Articles » Making Banks Accountable to Retail Customers
                       Previous           Next

Making Banks Accountable to Retail Customers  

January 20, 2014

Since banks are the biggest distributors for all financial products, they need to operate within a strong consumer protection framework. This is lacking.


Sucheta Dalal


The Reserve Bank of India (RBI) is, finally, working on a consumer protection framework that will empower it to ensure that banks treat their customers fairly. This is in line with global best practices that RBI deputy governor Dr KC Chakrabarty has been espousing for a long time. The crux of the new thinking is that “self-regulation, often, does not work and a strong, intrusive and hands-on regulator/supervisor provides the confidence that markets will operate on sound principles and be free from unfair and unethical practices.”


To read more on this click here...

-- Sucheta Dalal