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

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

Key Points

• The Bank Clinic initiative was launched in June 2024 by the All India Bank Employees' Association (AIBEA) to address grievances faced by customers in retail banking.
• The primary objective of the initiative is to resolve customer complaints and grievances related to banking services in a timely manner.
• The initiative aims to bridge the gap between banks and customers by offering a platform for quick redressal of issues.
• It focuses on improving the overall customer service experience and ensuring transparency in banking operations.
• The Bank Clinic is seen as a significant step toward fostering trust and accountability in the banking sector.

Additional Information

• All India Bank Employees' Association (AIBEA):
  • Founded in 1946, AIBEA is one of the oldest trade unions in the banking sector in India.
  • It represents employees from various public sector and private sector banks.
  • AIBEA has played a crucial role in advocating for the rights of bank employees and addressing customer-related issues over the years.
• Retail Banking:
  • Retail banking refers to banking services provided to individual customers, including savings accounts, loans, credit cards, and more.
  • It differs from corporate banking, which focuses on serving businesses and large organizations.
• Customer Grievance Redressal Mechanism:
  • It is a formal process set up by banks to address and resolve customer complaints.
  • The Reserve Bank of India (RBI) has issued guidelines to ensure an efficient grievance redressal system in banks.
• Banking Ombudsman:
  • The Banking Ombudsman Scheme was introduced by the RBI to address unresolved grievances from customers.
  • It acts as a mediator to resolve disputes between customers and banks without litigation.