RBI launched Financial Literacy Week to focus on customer protection

Vastavam web: The Reserve Bank of India today launched Financial Literacy Week across the country with customer protection as its main theme. The event will focus on creating awareness among customers of banks about financial products and services, good financial practices and going digital, RBI Regional Director E E Karthak told reporters here. It will give out four consumer protection messages including ‘know your liability’ for unauthorised electronic banking transaction and good practices for a safe digital banking experience.

Resolution of complaint is to be done by the bank concerned within period not exceeding 90 days from the date of receipt of the complaint. Besides, Karthak said, banks have been asked to also create awareness about Banking Ombudsman scheme of the RBI. Bankers, Financial Literacy Counsellors (FLCs) and other stakeholders will participate to create awareness. Last year, the focus was promotion of digital transaction, Karthak said, adding that this year RBI is promoting digital transaction with focus on protection.