The Bank Clinic is an initiative launched in June 2024 by the _______ to help customers address their grievances in retail banking.

Correct option is A

The correct answer is (A) All India Bank Employees' Association (AIBEA).

Explanation:
The Bank Clinic was launched by AIBEA in June 2024 to assist retail banking customers in addressing their grievances. The initiative helps customers resolve banking-related issues by providing expert guidance based on the Reserve Bank of India (RBI) guidelines. It offers an accessible platform for customers to get support and clarification on various banking concerns.

Information Booster:

• Bank Clinic:

  • Launched by AIBEA in June 2024 to help customers address grievances related to retail banking.

  • Provides a platform to file complaints and receive remedies based on RBI regulations.

  • Focuses on financial literacy, helping customers understand their rights and how to resolve banking issues.

  • Aims to enhance transparency and improve the customer experience in the banking sector.

  • Works alongside other grievance redressal systems like the Banking Ombudsman.

  • Encourages consumer rights awareness and accountability in the financial services industry.

• AIBEA:

  • All India Bank Employees' Association (AIBEA) has long been an advocate for bank employees' rights and consumer-friendly banking practices.

  • The Bank Clinic initiative extends AIBEA's commitment to improving banking standards and protecting both customers and employees.

  • It aims to educate customers on how to engage with banks regarding their issues and claim remedies effectively.

• RBI Guidelines:

  • The initiative helps customers understand RBI's role in regulating banking practices and consumer protection.

  • Customers are informed about their rights as per RBI guidelines on areas like interest rates, service charges, and loan disputes.