The Department of Financial Services (DFS) achieved notable success in grievance redressal rankings for May 2026.
The Insurance Division secured the 2nd position in the Group A category of the Grievance Redressal Assessment & Index (GRAI), while the Banking Division ranked 6th in the same category.
DFS receives more than 2.5 lakh grievances annually and has consistently remained among the top 10 Ministries and Departments in GRAI rankings since November 2025. The Department of Administrative Reforms and Public Grievances released the latest rankings, highlighting DFS’s strong performance in handling citizen complaints.
Since January 7, 2024, the Secretary of DFS has personally reviewed 20 randomly selected grievances each month. Complainants directly participate in these reviews alongside Chairpersons, MDs, CEOs, and senior management of financial institutions. This initiative strengthens customer trust and ensures meaningful resolution of issues.
DFS has also conducted workshops on the Effective Grievance Redressal Framework with RBI, IRDAI, PFRDA, and Public Sector Banks. These sessions focused on identifying root causes of complaints, improving resolution quality, and encouraging institutions to address concerns with professionalism, transparency, and empathy.
Officials emphasised that these efforts aim to make governance more transparent, accountable, and citizen-centric, while reinforcing public confidence in financial institutions.
