Money & Banking

Complaints received by Banking Ombudsman of W. Bengal, Sikkim on decline

Shobha Roy Kolkata | Updated on March 12, 2018 Published on August 24, 2012

Customer is king: Banking Ombudsman M. S. Soy addressing the media in Kolkata on Friday.   -  PTI

There has been a steady decline in the number of complaints received by the Office of Banking Ombudsman (OBO) in West Bengal and Sikkim during the last three years.

The OBO received 4,838 complaints during the review period (July 1, 2011-June 30, 2012) this year, as against 5,192 complaints in 2010-11. The number of complaints received in 2009-10 stood at 5,326, the Banking Ombudsman for West Bengal and Sikkim, M. S. Soy said while addressing a press meet here on Friday.

“The declining trend in the complaints received and dealt with indicates the healthy impact of the actions taken by the BO’s office in complaint resolution, making banks more pro-active in handling customer grievances,” he said.

While there has been a decline in the number of complaints received against new private sector banks and foreign banks, those received against nationalised banks and the State Bank Group have increased by five per cent and seven per cent respectively.

“Private and foreign banks have become much more serious about customer service and have tightened their internal redressal mechanism. Some of these banks also have an internal Ombudsman scheme. They also conduct regular audit to look into customer complaints,” he said.

Even though public sector banks have an internal redress mechanism, it is not as effective, he added.

According to Soy, some of the main reasons giving rise to disputes leading to complaints include failed ATM transactions, pension payments, lack of transparency on the part of card issuers and grievances pertaining to loan and deposit accounts among others.

Of the 4,838 complaints dealt with by the office during 2011-12 (including 468 brought forward from the previous year), 1,482 were treated as non maintainable.

Non maintainable complaints are those which are not furnished with the required information, that are outside the ambit of the OBO scheme or are frivolous complaints or complaints against entities other than banks.

Of the maintainable complaints (3,130), nearly 2,035 were settled during the year.

Published on August 24, 2012

A letter from the Editor

Dear Readers,

The coronavirus crisis has changed the world completely in the last few months. All of us have been locked into our homes, economic activity has come to a near standstill. Everyone has been impacted.

Including your favourite business and financial newspaper. Our printing and distribution chains have been severely disrupted across the country, leaving readers without access to newspapers. Newspaper delivery agents have also been unable to service their customers because of multiple restrictions.

In these difficult times, we, at BusinessLine have been working continuously every day so that you are informed about all the developments – whether on the pandemic, on policy responses, or the impact on the world of business and finance. Our team has been working round the clock to keep track of developments so that you – the reader – gets accurate information and actionable insights so that you can protect your jobs, businesses, finances and investments.

We are trying our best to ensure the newspaper reaches your hands every day. We have also ensured that even if your paper is not delivered, you can access BusinessLine in the e-paper format – just as it appears in print. Our website and apps too, are updated every minute, so that you can access the information you want anywhere, anytime.

But all this comes at a heavy cost. As you are aware, the lockdowns have wiped out almost all our entire revenue stream. Sustaining our quality journalism has become extremely challenging. That we have managed so far is thanks to your support. I thank all our subscribers – print and digital – for your support.

I appeal to all or readers to help us navigate these challenging times and help sustain one of the truly independent and credible voices in the world of Indian journalism. Doing so is easy. You can help us enormously simply by subscribing to our digital or e-paper editions. We offer several affordable subscription plans for our website, which includes Portfolio, our investment advisory section that offers rich investment advice from our highly qualified, in-house Research Bureau, the only such team in the Indian newspaper industry.

A little help from you can make a huge difference to the cause of quality journalism!

Support Quality Journalism
This article is closed for comments.
Please Email the Editor
You have read 1 out of 3 free articles for this week. For full access, please subscribe and get unlimited access to all sections.