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Finmin initiates ranking for banks and insurance cos based on grievance redressal
Millennium Post Delhi
|New Delhi 13December2025
The initiative started in June this year has significantly improved performance of these entities, the finance ministry said in a statement
In order to improve the grievance redressal framework, the finance ministry has initiated the ranking of public sector banks, private sector banks and public sector insurance companies, based on quality and timely redressal of grievances.
‘The initiative started in June this year has significantly improved performance of these entities, the finance ministry said in a statement. Besides, the ranking of private sector insurers is also in the pipeline.
This has strengthened the grievance redressal mechanism by increased focus on faster turnaround time (TAT) by banks and insurance companies, transparent communication between customer and the respective organisations, and an increase in customer service training in the organisations, it said.
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