The Insurance Division of Department of Financial Services (DFS) secured the second position in Group A category (registering more than or equal to 500 grievances) in the Grievance Redressal Assessment & Index (GRAI) rankings released by the Department of Administrative Reforms and Public Grievances.
The banking division stood at the 6th position in the same category for the same month of May, an official statement said.
The Department of Financial Services (Banking and Insurance Divisions) has been receiving more than 2.50 lakh grievances annually, it said, adding that it has consistently figured among the top-10 ministries/departments in the GRAI rankings since November 2025.
1 June 2026
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Since January 7, 2024, the DFS secretary has been personally reviewing 20 randomly selected grievances, with complainants participating directly alongside the chairpersons, MDs, CEOs, and senior management of the financial institutions concerned, it said.
This initiative aims to improve customer trust and ensure meaningful resolution of grievances, it said.
The DFS has also conducted workshops on 'Effective Grievance Redressal Framework' with the RBI, IRDAI, PFRDA, and all public sector banks.
These sessions focused on identifying the root causes of complaints and improving the quality of grievance resolution, it said
