In this barter system association when we trade goods for money, dealing without money cannot happen. Herein where dealing with banks or our association with banks also come into picture. Undoubtedly directly or indirectly we make the various transaction through these financial institutions, or visit them for various funding requirements loan, credit card etc.
Now, if on any front you are not satisfied due to proper response from your bank or may be because of irresponsible act from the part of the bank's representative:
Here are the different recourses available to you as a banking customer:
1. One can file a complaint with the Banking Ombudsman simply by writing on a plain paper. One can also file it online at ("click here to lodge a complaint") or by sending an email to the Banking Ombudsman. There is a form along with details of the scheme on the RBI website. However, it is not mandatory to use this format.
2. One may lodge his/ her complaint at the office of the Banking Ombudsman under whose jurisdiction, the bank branch against which the complaint has to be made is situated.For complaints relating to credit cards and other types of services with centralized operations, complaints may be filed before the Banking Ombudsman within whose territorial jurisdiction the billing address of the customer is located.
If the problem is taken to the Banking Ombudsman it is noteworthy that these entities do not charge any amount and the complaint can be made by one's authorized representative. For knowing the Ombudsman, to whom you need to refer or take the complaint, you can refer to this link https://www.rbi.org.in/commonman/English/Scripts/AgainstBankABO.aspx
Greivance redressal by way of monetary compensation
The amount, if any, to be paid by the bank to the complainant by way of compensation for any loss suffered by the complainant is limited to the amount arising directly out of the act or omission of the bank or Rs. 20 lakhs, whichever is lower.
In a case if there has been mental harassment that the banking customer has suffered from any of the banking rep, a compensation not exceeding Rs. 1 lakh can be paid.