**Summary of Grievance Redressal Performance: Department of Financial Services (May 2026)**
**Overview and Performance Rankings**
The Ministry of Finance has announced the performance of the Department of Financial Services (DFS) in the Grievance Redressal Assessment & Index (GRAI) for May 2026. Released by the Department of Administrative Reforms and Public Grievances, the index highlights the DFS’s consistent presence among the top 10 Ministries/Departments since November 2025. In the Group A category (designated for entities receiving 500 or more grievances), the Insurance Division of the DFS secured the 2nd position, while the Banking Division ranked 6th.
**Grievance Volume and Management**
The DFS (encompassing both Banking and Insurance divisions) manages a high volume of public feedback, receiving more than 2.50 lakh grievances annually. To manage this volume effectively and improve service delivery, the department has implemented several strategic initiatives:
* **Secretary-Level Reviews:** Since January 7, 2024, the Secretary of the DFS has personally reviewed 20 randomly selected grievances. These reviews include the direct participation of complainants alongside senior leadership, including Chairpersons, MDs, and CEOs of the relevant financial institutions.
* **Capacity Building:** The DFS conducted workshops on the ‘Effective Grievance Redressal Framework’ in collaboration with the Reserve Bank of India (RBI), the Insurance Regulatory and Development Authority of India (IRDAI), the Pension Fund Regulatory and Development Authority (PFRDA), and all Public Sector Banks.
**Objectives and Impact**
The primary goals of these initiatives are to identify the root causes of complaints, enhance the quality of resolutions, and foster customer trust through transparency and empathy. The government's broader objective is to ensure that governance remains citizen-centric, accountable, and transparent.
**Administrative Information**
* **Release Date:** July 9, 2026 (3:05 PM)
* **Release ID:** 2282804
* **Location:** PIB Delhi
* **Visitor Count:** 442
Key Entities Referenced
Grievance Redressal Assessment & Index (GRAI): A performance index released by DARPG used to rank government ministries and departments based on their efficiency in resolving public grievances.
Department of Financial Services (DFS): The primary department under the Ministry of Finance responsible for the banking and insurance sectors, highlighted for its performance in grievance management.
Department of Administrative Reforms and Public Grievances (DARPG): The nodal agency responsible for formulating grievance redressal policies and releasing the GRAI rankings.
Effective Grievance Redressal Framework: A strategic initiative and framework used to conduct workshops and identify root causes of complaints to improve service delivery in financial institutions.
Ministry of Finance
Insurance Division, DFS Secures 2nd Rank in
Group A Category Grievance Redressal
Assessment & Index (GRAI) for May 2026
Banking Division, DFS ranks 6th in Group A category of the
GRAI
प्रव तथ: 09 JUL 2026 3:05PM by PIB Delhi
The Department of Financial Services (Banking and Insurance Divisions) has been receiving more than
2.50 lakh grievances annually. It has consistently figured among the top 10 Ministries/Departments in the
Grievance Redressal Assessment & Index (GRAI) rankings since November 2025. For the month of May
2026, the Insurance Division secured the 2nd position in the Group A category (registering more than or
equal to 500 grievances) in the GRAI rankings released by the Department of Administrative Reforms and
Public Grievances. The Banking Division stood at the 6th position in the same category.
Since 7th January 2024, the Secretary, Department of Financial Services, has been personally reviewing 20
randomly selected grievances, with complainants participating directly alongside the Chairpersons, MDs,
CEOs, and senior management of the concerned financial institutions. This initiative aims to improve
customer trust and ensure meaningful resolution of grievances.
The Department of Financial Services has also conducted workshops on ‘Effective Grievance Redressal
Framework’ with 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. They also
encouraged institutions to address customer’s concerns with professionalism, transparency, and empathy,
thereby significantly strengthening public trust and improving service delivery. The Government aims to
make governance more transparent, accountable, and citizen-centric.
***
SR/AD
(रलीज़ आईडी: 2282804) आगंतुक पटल : 442
इस वज्ञ को इन भाषाओ ंम पढ़: Urdu , ही , Gujarati , Tamil , Telugu