The year 2021-22 marked a major milestone for the Ombudsman mechanism of RBI as it witnessed the integration of the three erstwhile Ombudsman Schemes viz., Banking Ombudsman Scheme (BOS) 2006, Ombudsman Scheme for Non-Banking Financial Companies (OSNBFC) 2018, and Ombudsman Scheme for Digital Transactions (OSDT) 2019 into the Reserve Bank - Integrated Ombudsman Scheme (RB-IOS), 2021. Here are 4 charts on the on the nature of plaints against banks and NBFCs, how complaints are addressed and why sometimes they are not considered.
What angers bank customers
Complaints against banks formed the largest portion, accounting for 88.04% of complaints. Customer complaints against ATM, debit cards, mobile/internet banking accounted for highest share.
What makes NBFC customers unhappy
Loans and Advances contribute to majority of complaints against NBFCs, followed by non-adherence to Fair Practices Code (FPC), which is also indirectly related to loans and advances.
Usual ways of dealing with complaints
Under the Ombudsman Schemes, the majority of complaints are settled through conciliation and mediation efforts.
Why complaints are not considered
A total of 1,35,326 (42.62%) of the total handled complaints at ORBIOs were closed as non-maintainable during the year.