Module: General Practice
Q16: As per the RBI guidelines on responsible business conduct, how often must a bank prepare a report detailing the findings from its post-sale customer feedback mechanisms?
✅ Correct Answer: D
The correct answer is on a half-yearly basis.
Banks have to make this report every six months, and this timeline cannot be changed.
The real-world results collected in this required report must be used directly by the bank's management team.
They must use this information to constantly review their current rules and to change or improve the features of their financial products and services.
Banks have to make this report every six months, and this timeline cannot be changed.
The real-world results collected in this required report must be used directly by the bank's management team.
They must use this information to constantly review their current rules and to change or improve the features of their financial products and services.
🧠 Real-World Scenario:
Imagine a Bank's CEO is reviewing operations in December. Suddenly, they realize many customers complained in August about confusing credit card fees.
According to the rules, they can see this data clearly because the bank must generate a mandatory feedback report every 6 months. This means top management is forced to face customer complaints and fix bad product designs twice a year.