IOB Grievances Redressal Mechanism : Indian Overseas Bank

Organisation : Indian Overseas Bank
Facility Name : Grievances Redressal Mechanism
Applicable For : Customers, Account Holders
Applicable State/UT : All Over India
Website : https://www.iob.in/Grievances_Redressal_mechanism

IOB Grievances Redressal Mechanism

Indian Overseas Bank Grievances Redressal Mechanism

How To Submit Complaint Online?

Step-1 : Contact our Branch Manager where you have your account over phone or Register the Complaint in the Complaint Register available with Branch Manager. You will get the resolution within 7 days.

Step-2 : If the resolution given by the Branch does not meet your requirement you may write to the Regional Manager or send an email. You will receive the response within 7 days. Please click here for details.

Step-3 : If the Complaint is not resolved by the Regional Manager, you may write or send an email to the General Manager, Customer Service Dept. being the Nodal Officer, Public grievances at Central Office. You will receive the resolution within 7 days. Please click here for details.

Step-4 : Towards one more step to provide a better customer service and to ensure the customer gets access to one more point of reference beyond the usual customer grievance resolution channel prescribed by the Bank viz. Branch Manager, Regional Manager and General Manager, Customer Service, at Central Office, Indian Overseas Bank has appointed Shri.S.Ramesh as the Internal Ombudsman of the Bank.

Step-5 :Even after having followed the above steps, if are not satisfied, you may approach Banking Ombudsman constituted by RBI under Banking Ombudsman Scheme-2006.

Policy For Grievance Redressal

The customer complaint arises due to :
a) The attitudinal aspects in dealing with customers.
b) Inadequacy of the functions/arrangements made available to the customers or gaps in standards of services expected and actual services rendered.

The customer is having full right to register his complaint if he is not satisfied with the services provided by the bank. He can give his complaint in writing, orally or over telephone. If customer’s complaint is not resolved within given time or if he is not satisfied with the solution provided by the bank, he can approach Banking Ombudsman with his complaint or other legal avenues available for grievance redressal.

Internal machinery to handle Customer complaints/grievances:
Customer Service Committee of the Board** :
This sub-committee of the Board would be responsible for formulation of Comprehensive Deposit Policy incorporating the issues such as the treatment of death of a depositor for operations of his account, the product approval process and the annual survey of depositor satisfaction and the triennial audit of such service.

The committee would also examine any other issues having a bearing on the quality of customer service rendered. This committee would also review the functioning of Standing Committee on Customer Service.

A memorandum will be placed before the Committee on newly-introduced loan products and the changes made in the loan products , which have a bearing of the quality of customer service, for their information.

Standing Committee on Customer Service :
The Standing Committee on Customer Service will be chaired by the Managing Director/Executive Director of the Bank. Besides two to three Senior Executives of the Bank,the Committee would also have two to three eminent non-executives drawn from the public as members. The committee would have the following functions. .

** Evaluate feed-back on quality of customer service received from various quarters. The committee would also review comments/feed-back on customer service and implementation of commitments in the Code of Bank’s Commitments to Customers received from BCSBI.

** The Committee would be responsible to ensure that all regulatory instructions regarding customer service are followed by the Bank. Towards this, the committee would obtain necessary feed-back from Regional Heads/Functional Heads.

** The Committee also would consider unresolved complaints / grievances referred to it by functional heads responsible for redressal and offer their advice.

** The committee would submit report on its performance to the Customer Service Committee of the Board at quarterly intervals.

Nodal Officer and other designated officials to handle complaints and grievance:
A Nodal Officer of the rank of Deputy General Manager will be responsible for the implementation of customer service and complaint handling for the entire Bank, under overall guidance by a General Manager.

A Customer Relationship Officer, an official in II line (Assistant General Manager or Chief Manager) at Regional Offices will handle complaints/grievances in respect of branches falling under their control.

A Quality Assurance Officer at all branches, headed by an Assistant General Manager, will handle complaints/grievances in that branch.

Mandatory Display requirements:
All the branches of the Bank will display following boards

** Appropriate arrangements for receiving complaints and suggestions.
** The name, address and the contact number of the Nodal Officer at Central Office/Regional Office.
** Contact details of the Banking Ombudsman of the area.
** Toll-Free Telephone number for lodging complaints over telephone .
** Code of Bank’s Commitment to Customers.
** The name, address and the contact number of Code Compliance Officer.

Resolution of Grievances:
Branch Manager is responsible for the resolution of complaints/grievances in respect of customer’s service by the branch. The complaints relating to the non-compliance of Code of Commitment will also be resolved as laid down under the policy. He/she would be responsible for ensuring closure of all complaints received at the branches.

It is his foremost duty to see that the complaint should be resolved completely to the customer’s satisfaction and if the customer is not satisfied, then he should be provided with alternate avenues to escalate the issue. If the branch manager feels that it is not possible at his level to solve the problem he can refer the case to Regional office for guidance. Similarly, if Regional office finds that they are not able to solve the problem such cases may be referred to the Nodal officer at Central Office.

In case the grievance is not redressed within 30 days, the customer is free to lodge his/her complaint to Regional manager to which Branch is attached and or to its Head office at Chennai. If there is no response from the Branch Head/Regional Head/Nodal officer for Customer Service Department Central Office within next 30 days the customer is free to refer his/her complaint to Banking Ombudsman.