PowerPoint Presentation

[Virtual Presenter] We are pleased to introduce our revamped Grievance Redressal Mechanism, which aims to transform the way we handle customer complaints, enabling us to respond faster, more efficiently, and effectively..

[Audio] Please note that I'm not sure about the accuracy of my answers. I'll do my best to provide accurate information. Please let me know if there's anything else I can help you with..

[Audio] Our key objectives are clear. We aim to ensure timely redressal of grievances within stipulated timelines, achieving a target resolution rate of 100%. This means we need to handle each complaint efficiently and effectively, minimizing delays and ensuring prompt responses. We also recognize the importance of building customer trust by maintaining transparency and consistency in our grievance handling process. This involves being open and honest about our procedures, communicating clearly with customers, and adhering to established protocols. Furthermore, we will conduct regular reviews to identify and mitigate recurring issues, analyzing data to pinpoint areas for improvement and implementing changes as needed. Finally, we will align our grievance redressal framework with regulatory guidelines issued by RBI, DFS, and other relevant stakeholders, ensuring compliance and staying ahead of any changes in the regulatory landscape. By focusing on these objectives, we can create a more effective and efficient grievance redressal mechanism, one that prioritizes customer satisfaction and trust..

[Audio] Answer: Yes, I can help you rewrite the given text in English. Here is the rewritten text: The Grievance Redressal Mechanism ensures prompt and effective redressal of customer complaints and grievances. Its primary responsibility is identifying major areas of complaints and engaging with stakeholders to implement corrective measures. Moreover, it actively engages with complainants to understand and address their concerns, identifies and addresses bottlenecks in grievance handling, educates customers about the grievance lodgment process and escalation mechanism, and generates and shares reports with relevant stakeholders..

[Audio] The department hierarchy consists of multiple levels, including the branch level with branch staff, the zonal level with a zonal nodal officer, the head office level featuring the general manager operations, deputy general manager, chief manager, four managers, and two officers. Furthermore, there is the complaint cell responsible for resolving grievances and the internal ombudsman overseeing the entire process..

[Audio] A dissatisfied customer can lodge a complaint orally or in writing through various channels, including CPGRAMS, INGRAM, CMS, and other government portals. The customer can also file a complaint directly with RBI, MOF, IBA, and state and central government offices. Furthermore, customers can contact the PSB Call Center, submit hard copy complaints through post offices, or use the bank's mobile app to report grievances. Upon receipt, all complaints are acknowledged and examined at different levels, including branch, zone, and head office departments, to ensure timely resolution and improved customer satisfaction..

[Audio] The bank's revamped grievance redressal portal features several strategies aimed at providing efficient and effective customer service. These include the deployment of AI-powered chatbots to respond to customer queries and resolve minor grievances, categorization and prioritization of complaints based on predefined criteria, and enhanced escalation mechanisms. Additionally, the bank has introduced a system for managing duplicate complaints and a reporting and analyzing system to gain valuable insights into customer service operations. Furthermore, the bank is committed to enhancing the training of its frontline staff to equip them with the necessary skills to handle grievances effectively..

[Audio] The branch manager is responsible for resolving grievances within seven days. The zonal office has a timeline of three days for redressing grievances. The concerned department of the head office has a timeline of four days. The complaint cell reviews and closes or rejects cases within six days. In case of wholly or partially rejected cases, they will be escalated to the internal ombudsman for a final decision. Customers also have the option to file a complaint with the RBI ombudsman within thirty days..

[Audio] The internal process for handling grievances begins with the Branch Manager, who is responsible for resolving all complaints received within seven days at the branch or department level. If the branch fails to resolve the issue, it is escalated to the Zonal Office, where the timeline for resolution is three days. The Zonal Office then seeks comments and facts from the branch and may take up the issue with the concerned Head Office department if necessary. The concerned Head Office department disposes of the complaint within four days if it's not resolved at the zonal office level. Once the complaint is resolved, the Zonal Office or concerned Head Office department informs the HO Complaint Cell for final closure. The HO Complaint Cell reviews the resolution of the complaint for final closure or rejection within six days. For wholly or partially rejected cases, the HO Complaint Cell escalates the matter to the Bank's Internal Ombudsman for their final decision. Customers can lodge a complaint with the RBI Ombudsman if the bank fails to resolve the complaint or partially rejects it..

[Audio] The bank's internal process for reviewing redressed grievances involves multiple levels of checks and balances. Zonal managers conduct regular reviews of complaints, engaging with complainants through voice or video calls. The complaint cell in charge, deputy general manager, and general manager also review complaints randomly, maintaining transparency and accountability. The executive director reviews complaints pending for more than seven days on a weekly basis, gathering feedback from complainants through voice or video calls. The MD & CEO reviews grievance resolution quality every fortnight, ensuring that our processes maintain high standards. Our customer service committee reviews grievances quarterly, while the board of directors conducts annual reviews. These measures demonstrate our commitment to continuous improvement and customer satisfaction..

[Audio] The total number of complaints received has been steadily decreasing over the past four years. The numbers have been 23,973 in FY 2021-22, 19,051 in FY 2022-23, 14,354 in FY 2023-24, and 8,406 until September 2024 in FY 2024-25. Our average time taken for resolving these complaints has also improved significantly. The average TAT for resolution was 10 days in FY 2021-22, reduced to 9 days in FY 2022-23, and remained consistent at 9 days in FY 2023-24 and FY 2024-25. However, it's worth noting that the number of complaints escalated to Internal Offices has increased over the same period. The numbers have been 142 in FY 2021-22, 287 in FY 2022-23, 661 in FY 2023-24, and 621 until September 2024 in FY 2024-25..

[Audio] The department has resolved a total of 23867 complaints in FY 2021-22, increasing to 19167 in FY 2022-23 and further increasing to 14270 in FY 2023-24. This trend continues, with 8376 complaints resolved till September 2024 in FY 2024-25..

[Audio] The bank's grievance redressal mechanism receives complaints categorized into various types. Over 40% of these complaints fall under credit-related matters, which involve issues like sanction, disbursement, recovery, and others. The second-largest category is dispute regarding application/charging of interest, closely followed by dispute regarding application of service charges. Together, these two categories account for nearly 60% of all complaints. Notable categories also include delay in collecting instruments and funds, delays in closing or transferring accounts, and allegations of misbehavior..

[Audio] The bank is committed to strengthening its grievance management system by introducing a fully revamped Customer Relationship Management portal. The new platform will integrate customer, agent, and staff experiences, streamlining the process from start to finish. The CRM system will track customer interactions more effectively, simplify complaint resolution, and deliver personalized solutions tailored to each customer's unique needs. Additionally, the bank is dedicated to empowering frontline staff through extensive training programs, equipping them with the essential skills and knowledge required to handle grievances efficiently and deliver exceptional service..

[Audio] The revamped grievance redressal portal features several strategies designed to improve the efficiency and effectiveness of our customer service operations. AI-powered chatbots will provide instant responses to customer queries, reducing waiting times and ensuring prompt assistance. Complaints will be prioritized based on predefined criteria, focusing on issues that have the greatest impact on customers. The system will identify identical complaints and eliminate them from the process to prevent duplication. In cases where escalation is necessary, the enhanced escalation matrix will notify higher authorities, enabling proactive intervention. Reports and analytics will be generated, providing valuable insights into our customer service operations. Furthermore, we're committed to enhancing the training of our frontline staff, equipping them with the necessary skills and knowledge to address grievances effectively and deliver exceptional service..

[Audio] The lowest number of grievances received by RBI-Ombudsman against Punjab and Sind Bank during the period among all public sector banks was 552. The lowest number of grievances received per branch by RBI-Ombudsman against Punjab and Sind Bank during the period among all public sector banks was 0.34..

[Audio] The conclusion of our presentation has been reached, and I would like to express my gratitude to each and every one of you for listening to our discussion about the Grievance Redressal Mechanism. Your attention was invaluable in understanding the significance of this mechanism and its benefits for all parties involved. Thank you again for your participation, and we hope that the presented information will be useful in your future endeavors..