For Quick Alerts
For Daily Alerts

    Banking Ombudsman see rise in complaints

    Banking Ombudsman see rise in complaints
    The Reserve Bank of India has decided to set up working group to review, update, and revise the Banking Ombudsman Scheme 2006.

    Banking Ombudsmen saw a rise in customer complaints in 2011-2012. The Annual Report said that the total number of customer complaints received in Banking Ombudsman's (BO) offices of the Reserve Bank of India stood at 72,889 in 2011-12.

    The largest number of customer complaints were about failure to meet commitments/non-observance of fair practices code, followed by card related (ATM/Debit/Credit) complaints and complaints relating to deposit accounts.

    Know more about Banking Ombudsman and grounds for complain

    Out of the total 14,492 card related complaints, 9348 complaints pertained to ATM / Debit Cards.

    Broadly, the reasons for complaints were: unsolicited cards, unsolicited insurance policies and recovery of premium, charging of annual fee in spite of being offered as 'free' card, authorisation of loans over phone, wrong billing, settlement offers conveyed telephonically.

    However, there was a decline of 3% in the complaints related to cards when compared to previous year, which was mainly due to in general awareness about usage of cards.

    Read more about: rbi banks ombudsman
    Story first published: Monday, January 7, 2013, 9:44 [IST]
    Company Search
    Enter the first few characters of the company's name or the NSE symbol or BSE code and click 'Go'

    Find IFSC

    Get Latest News alerts from Goodreturns

    Notification Settings X
    Time Settings
    Clear Notification X
    Do you want to clear all the notifications from your inbox?
    Settings X
    We use cookies to ensure that we give you the best experience on our website. This includes cookies from third party social media websites and ad networks. Such third party cookies may track your use on Goodreturns sites for better rendering. Our partners use cookies to ensure we show you advertising that is relevant to you. If you continue without changing your settings, we'll assume that you are happy to receive all cookies on Goodreturns website. However, you can change your cookie settings at any time. Learn more