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The Insurance Ombudsman plays a vital role in grievance redressal and mediating a settlement for both parties. With only one Ombudsman office in Chennai and the increasing number of complaints, there is an urgent need to set up more Ombudsman offices.

This blog summarises the third and fourth session of the Consumer Guidance Seminar on Banking Services held in February 2018. The session on the effectiveness of RBI guidelines covered a discussion on the role of RBI in the monetary policy but also the maintenance of financial stability. The fourth session included case studies on digital security issues in the banking sector. 

The second session of the Consumer Guidance Seminar was on the Financial Resolution and Deposit Insurance (FRDI) Bill. The FRDI Bill aims to monitor financial institutions by establishing the Resolution Corporation (RC) to help streamline banks and financial institutions in the event of financial crisis. 

CAG, in association with Consumers International (CI), is presently working on a project, “Giving Poor Consumers Greater Voice in India”. The main objective of the project is to bring about behavioral change in a low-income community (Model Lane community, Royapuram),

Citizen consumer and civic Action Group (CAG) conducted a Consumer Guidance Seminar (CGS) on Banking Services on February 7, 2018.

Maximum Retail Price (MRP) is a manufacturer-calculated and purposive price. It is the maximum price at which the products can be sold to the customer and is inclusive of all taxes.

Smt. Saroja convened the panel discussion and introduced the five panel members to the audience.
1.  Mr. Rajkumar, Department of Legal Metrology - Chair
2.  Mr. Dasarathi, Department of Legal Metrology
3.  Mr. R. Srinivasan, Honorary Secretary, Tamil Nadu Hotels Association
4. Mr. Natarajan, Proprietor, Janaki Pharmacy, General Secretary, Chennai Chemists and Druggists Association

Smt. Umashanti from the GST Commissionerate delivered the GST presentation next. She said GST can solve all the deficiencies of the current system as described below:

On September 9^th, 2017, Citizen consumer and civic Action Group (CAG), in association with the Consumers Association of India (CAI), organized a Consumer Guidance Seminar on the Goods and Services Tax (GST) at the Anna Institute of Management, Greenways Road, Chennai. Mr. Rajeev Kumar, Additional Commissioner, GST Commissionerate-North, presided over the seminar. Participants attended from different organisations and associations of Tamil Nadu.

Part 5 of 5: Complaints Handling by Ombudsman

Ms. Sudha Ramanujam, Deputy Secretary, Office of the Insurance Ombudsman, Chennai spoke next, sharing valuable tips on how to improve relations between the insured and the insurer and how to make the claims-handling process better. She clarified the role of the Insurance Ombudsman in this regard. She said many in the public thought it was just another insurance company.