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Post: #1


.docx  A STUDY OF GRIEVANCE HANDLING.docx (Size: 120.23 KB / Downloads: 18)


The major participants of the Indian financial system are the commercial banks, the financial institutions (FIs), encompassing term-lending institutions, investment institutions, specialized financial institutions and the state-level development banks, Non-Bank Financial Companies (NBFCs) and other market intermediaries such as the stock brokers and money-lenders. The commercial banks and certain variants of NBFCs are among the oldest of the market participants. The FIs, on the other hand, are relatively new entities in the financial market place.
Bank of Hindustan, set up in 1870, was the earliest Indian Bank . Banking in India on modern lines started with the establishment of three presidency banks under Presidency Bank's act 1876 i.e. Bank of Calcutta, Bank of Bombay and Bank of Madras. In 1921, all presidency banks were amalgamated to form the Imperial Bank of India. Imperial bank carried out limited central banking functions also prior to establishment of RBI. It engaged in all types of commercial banking business except dealing in foreign exchange.

Co-operative Banks

There are two main categories of the co-operative banks.
(a) Short term lending oriented co-operative Banks - within this category there are three sub categories of banks viz state co-operative banks, District co-operative banks and Primary Agricultural co-operative societies.
(b) Long term lending oriented co-operative Banks - within the second category there are land development banks at three levels state level, district level and village level.
The co-operative banking structure in India is divided into following main 5 categories: (Visit us again for details of each category)


Banking Regulation Act of India, 1949 defines Banking as "accepting, for the purpose of lending or investment of deposits of money from the public, repayable on demand or otherwise and withdrawable by cheques, draft, order or otherwise."
Most of the activities a Bank performs are derived from the above definition. In addition, Banks are allowed to perform certain activities, which are ancillary to this business of accepting deposits and lending. A bank's relationship with the public, therefore, revolves around accepting deposits and lending money. Another activity which is assuming increasing importance is transfer of money - both domestic and foreign - from one place to another. This activity is generally known as "remittance business" in banking parlance. The so-called forex (foreign exchange) business is largely a part of remittance albeit it involves buying and selling of foreign currencies.


Banks are also called custodians of public money. Basically, the money is accepted as deposit for safe keeping. But since the Banks use this money to earn interest from people who need money, Banks share a part of this interest with the depositors. The quantum of interest depends upon the tenor - length of time for which the depositor wishes to keep the money with the Bank - and the ease of withdrawal. The thumb rule is, longer the tenor, higher the rate of interest and lesser the restrictions on withdrawal, lesser the interest. Exceptions, however, exist. Deposits are accepted from both resident (domestic) or non-resident Indian customers.
It is the business of the banker to accept deposits so that he can lend it to others and earn interest. Depending upon the liquidity position of the market and the size of deposit, the earnings can vary and if the size of the deposit is big enough, it is advisable to shop around and get the best rate.


Lending money is one of the two major activities of any Bank. Banks accept deposit from public for safe-keeping and pay interest to them. They then lend this money to earn interest on this money. In a way, the Banks act as intermediaries between the people who have the money to lend and those who have the need for money to carry out business transactions. The difference between the rate at which the interest is paid on deposits and is charged on loans, is called the "spread".

Bill Discounting

Bill discounting is a major activity with some of the smaller Banks. Under this type of lending, Bank takes the bill drawn by borrower on his(borrower's) customer and pay him immediately deducting some amount as discount/commission. The Bank then presents the Bill to the borrower's customer on the due date of the Bill and collect the total amount. If the bill is delayed, the borrower or his customer pay the Bank a pre-determined interest depending upon the terms of transaction.

Term Loan

Term Loans are the counter parts of Fixed Deposits in the Bank. Banks lend money in this mode when the repayment is sought to be made in fixed, pre-determined installments. This type of loan is normally given to the borrowers for acquiring long term assets i.e. assets which will benefit the borrower over a long period (exceeding at least one year). Purchases of plant and machinery, constructing building for factory, setting up new projects fall in this category. Financing for purchase of automobiles, consumer durables, real estate and creation of infra structure also falls in this category.


Apart from accepting deposits and lending money, Banks also carry out, on behalf of their customers the act of transfer of money - both domestic and foreign.- from one place to another. This activity is known as "remittance business" . Banks issue Demand Drafts, Banker's Cheques, Money Orders etc. for transferring the money. Banks also have the facility of quick transfer of money also know as Telegraphic Transfer or Tele Cash Orders.

Mail Transfers or Mail Orders

This is the mode used when you wish to transfer money from your account in Center 'A' to either your own account in Center 'B' or to somebody else's account. In this mode of transfer, you are required to fill in an application form similar to the one for DD, sign a charge slip or give a cheque for the amount to be transferred plus exchange and collect a receipt. The Bank will, on its own, send an order to its branch at center 'B' to deposit the said amount in the account number designated by you.This is, however, a dying product and many banks like State Bank of India have since withdrawn this.

acting as trustees

Under section 3 of Indian Trusts Act, 1882 a trust is an obligation annexed to the ownership of property, and arising out of a confidence reposed in and accepted by the owner, or declared and accepted by him, for the benefit of another, or of another and the owner.
Banks also act as trustees for various requirements of the corporates, Government and General Public. For example, whenever a company wishes to issue secured debentures, it has to appoint a financial intermediary as trustee who takes charge of the security for the debenture and looks after the interests of the debenture holders. Such entity necessarily have to have expertise in financial matters and also be of sufficient standing in the market/society to generate confidence in the minds of potential subscribers to the debenture. Banks are the natural choice. For general public also the Banks normally have a facility called "safe custody" where Banks act as trustees.
Banks also act as bankers to trustees appointed under the act mentioned above. A banker has a few special obligations in such accounts and accordingly special care is taken in such accounts.
Post: #2
Grievance Redressal Policy

We believe that customer service is an important imperative for the sustained growth of the business and we want to ensure that our clients receive an exemplary service through different points of contact of the Bank. Rapid and efficient service is essential to maintaining existing relationships and customer satisfaction is critical to the Bank.
Customer complaints constitute an important customer voice, and this policy details the handling of complaints through a structured complaint compensation framework. Complaint repair is supported by a review mechanism to minimize the recurrence of similar problems in the future. The Bank's claim compensation policy follows the following principles:
1. Customers are treated fairly at all times
2. Complaints made by clients are treated with courtesy and in a timely manner
3. Customers are informed of the ways to escalate their complaints within the organization, and their rights if they are not satisfied with the resolution of their complaints
4. Complaints are handled efficiently and fairly
5. Bank employees work in good faith and without prejudice to the interests of clients
This policy is available on the Bank's website and at our branches upon request. Employees are aware of the Bank's complaint handling process and the Bank's grievance repair mechanism.

Awareness of the Redressal Claims Mechanism

At HSBC, Customer Delight is our priority and we are committed to offering our customers the best banking experience in their class. If customers are happy with our services, we would love to hear from them. Likewise, customer feedback helps us strengthen the things we are doing well and at the same time improve in the areas where we have to do better.
The client can register their complaints / provide their comments in writing or verbally. The customer can go to the Bank to file a complaint through any of our service contact points listed below and wait for a response within 10 days of filing the complaint.
In the event that the customer does not receive a response within the number of days indicated below for each level or if the customer is not satisfied with the response received from the Bank, the customer may escalate the complaint to the next level as indicated below.
Click on the links below to access the Bank's grievance repair mechanism.
Redressal Claims Facility - Non Demat Accounts
Redressal Claims Mechanism - Demat Account holders

Internal machinery to deal with customer complaints

Nodal Officers and other officers designated to handle grievances and grievances
The Bank has appointed Regional Nodal Officers and the Chief Nodal Officer under the Bank Ombudsman Plan 2006 (as amended until February 3, 2009), who are responsible for ensuring that the complaint is resolved on behalf of the Bank. Details of Regional Nodal Officers, Code Compliance Officers, our Senior Management and Banking Ombudsman are displayed on bulletin boards at branches and posted on the complaint resolution page on our website .in. The Bank's Code of Commitment to Customers and the Code of Fair Practices are also available on our website.
Complaint Resolution
The point of contact of the service (as specified above) that receives the complaint together with the Customer Service Center is responsible for the resolution of the complaint / complaint to customer satisfaction. Every effort will be made to provide adequate and appropriate solutions to the customer whenever possible. However, if the client remains unsatisfied with the resolution, he can scale the problem through the grievance repair mechanism, which is mentioned in section 2 above.
Time frame
Appropriate deadlines have been established for each complaint depending on the investigations that would be involved in the resolution of the same. Complaints are properly acknowledged on the receipt and clients are informed of delays if any, in the resolution.

Sensitize staff on handling complaints (Training)

Our staff is specially trained to deal with complaints. Training includes both operations and soft skills, as different clients perceive and react differently to aspects of handling complaints. Our staff is encouraged to have an open attitude towards registering complaints, ensuring the recovery of the service and gaining the trust of the client. Nodal Chief Officer and other managers, based on their observation of grievance repair in various service forums, share their views and staff training needs with the respective departments.

Bank Customer Service Committees

The Bank has a strong framework of customer service committees to maintain supervision and contribute to the improvement of customer service within the Bank. Committees are responsible for understanding the opportunities that may exist for service development and product improvement, especially to enhance the customer experience. The committees exchange important views on the

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