The initiative started in June this year has significantly improved performance of these entities, the finance ministry said in a statement (Image Source: Ministry Of Finance/X) Show Quick Read Summary is AI Generated. Newsroom Reviewed

In order to improve the grievance redressal framework, the finance ministry has initiated the ranking of public sector banks, private sector banks and public sector insurance companies, based on quality and timely redressal of grievances.

The initiative started in June this year has significantly improved performance of these entities, the finance ministry said in a statement. Besides, the ranking of private sector insurers is also in the pipeline.

This has strengthened the grievance redressal mechanism by increased focus on faster turnaround time (

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