RBI Launches “Speed Mission” to Clear Pending Complaints Within 30 Days

BI Launches “Speed Mission” to Resolve Pending Bank & NBFC Complaints Within 30 Days

Mumbai: In a sweeping move to reinforce consumer confidence across the financial sector, the Reserve Bank of India (RBI) has announced a special two-month campaign to resolve long-pending customer complaints tied to banks and non-banking financial companies (NBFCs). The mission — internally termed “Operation Clean Complaints” — will run from January 2025 through February 2026, focusing specifically on clearing cases pending beyond 30 days under the RBI’s grievance redressal system.

Officials say the initiative aims to boost transparency, reduce procedural delays and promote stronger customer-centric governance across the financial ecosystem.

A Surge in Customer Complaints Pushes RBI to Act

RBI data shows a sharp surge in complaints over the past year, with 13.34 lakh grievances filed in FY 2024–25 - a 13.55% increase over the previous year.
The highest share of complaints (29.25%) related to loans and advances, followed by credit card disputes, while issues related to digital banking saw a slight decline.

Banks accounted for 81.53% of the grievances, and NBFCs for another 14.80%.
Even though 99.8% of complaints were technically resolved within stipulated timelines, rising volumes created a backlog that the RBI determined required immediate intervention.

Ombudsman Scheme Stretched Under Growing Pressure

The Integrated Ombudsman Scheme, designed as the first line of defence for consumers facing unfair charges, payment failures or deficient services, has been strained by the rising caseload.
Several complaints lingered unresolved beyond 30 days, eroding trust in the redressal process and exposing systemic gaps in grievance handling by regulated entities.

RBI’s special campaign is intended to restore speed and consistency across banks and NBFCs, while reinforcing accountability within their customer service infrastructure.

Operation Clean Complaints: No Grievance to Remain Pending

Under the initiative, every regulated entity must identify, review and close all complaints pending beyond 30 days.
The directive applies to banks of all categories, NBFCs and digital lenders covered under the RBI’s supervisory framework.

RBI has emphasized that the campaign must not be reduced to a clearance exercise alone; institutions are expected to enhance the quality of resolutions and implement measures to prevent future backlogs.

Governor’s Message: The Customer Must Come First

RBI Governor Sanjay Malhotra stressed that timely complaint resolution remains the foundation of consumer trust in financial services.
He noted that the RBI has begun releasing monthly public reports on complaint pendency and disposal rates to increase transparency, adding that the new mission signals a shift toward stronger system-wide accountability.

The regulator wants financial institutions to move from mere regulatory compliance to genuine customer-focused service standards.

Why the Initiative Matters for India’s Financial Landscape

As digital transactions and fintech adoption accelerate, the frequency of failed transfers, unauthorized deductions, fraud attempts and poor service delivery has also increased.
Industry experts argue that unresolved grievances undermine consumer trust, which is essential for financial stability and long-term digital adoption.

By fast-tracking old complaints, the RBI aims to reinforce the message that delays and poor service will no longer be tolerated — and that customers’ time and rights must be treated with priority.

A Step Toward Rebuilding Public Confidence

Millions of customers waiting for resolution could benefit from the mission, which seeks to instill a culture of responsiveness across financial institutions. Regulators believe the effort will strengthen trust, improve operational discipline and ensure that the financial sector’s growth is matched by ethical responsibility and transparency.

As RBI noted in its statement:
“Every customer matters. Their trust defines the strength of India’s financial ecosystem.”

Strengthening grievance mechanisms highlights how crucial reliable financial processes and accurate records are for institutions of every size.

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