Comments
Complaints to the banking ombudsman in 2017-18 shot up by nearly 25 per cent, with non-observance of fair practices code and issues related to ATM and debit cards being the most common grounds for seeking redressal.
The Office of the Banking Ombudsman (OBOs) received a total of 1,63,590 complaints in 2017-18, recording an annual increase of 24.9 per cent, revealed the annual report of Banking Ombudsman Scheme released by the Reserve Bank of India on Wednesday.
However, in 2017-18, the ambit of the scheme was expanded to include mis-selling and electronic and mobile banking-related grievances as valid grounds of complaints. Further, the ceiling of ₹10 lakh on the pecuniary jurisdiction of the banking ombudsman, and a second office was also opened at Mumbai, taking the total offices to 21.
The data showed that the major grounds of complaints received during the year were non-observance of fair practices code (22.1 per cent), ATM and debit card issues (15.1 per cent), credit card complaints (7.7 per cent), failure to meet commitments (6.8 per cent), and mobile and electronic banking (5.2 per cent).
Meanwhile, complaints received on grounds such as problems related to pension, levy of charges without notice, loans and advances, remittances, DSA and recovery agents, and mis-selling accounted for less than 5 per cent of the total number of complaints.
Comments
COMMENT NOW
Comments
Comments have to be in English, and in full sentences. They cannot be abusive or personal. Please abide by our community guidelines for posting your comments.
We have migrated to a new commenting platform. If you are already a registered user of TheHindu Businessline and logged in, you may continue to engage with our articles. If you do not have an account please register and login to post comments. Users can access their older comments by logging into their accounts on Vuukle.