Categories: Banking

Cards, Mobile, Net banking top Complaint Areas at Banking Ombudsman: RBI

Issues related to ATM/debit cards and mobile/electronic banking were the top grounds of complaints received at the Office of Banking Ombudsman (OBO), said an RBI report. The coverage of RBIOS was extended to include the non-scheduled Urban Cooperative Banks (UCBs) with a deposit size of Rs 50 crore or above as at the end of the previous Financial Year. Credit Information Companies (CICs) were brought under RBI-IOS with effect from September 1, 2022. Between November 12, 2021 and March 31, 2022, a total of 1,86,268 complaints were received under the RBIOS.

Bank Maha Pack includes Live Batches, Test Series, Video Lectures & eBooks

More About This:

The volume of complaints received under the Ombudsman Schemes/Consumer Education and Protection Cells during 2021-22 increased by 9.39% over the previous year and stood at 4,18,184. Of these, 3,04,496 complaints were handled by the 22 Offices of RBI Ombudsman (ORBIOs), including the complaints received under the three erstwhile Ombudsman Schemes till November 11, 2021.

Complaints related to ATM/ debit cards were the highest at 14.6% of the total, followed by mobile/ electronic banking at 13.6%. About 90% of the total complaints were received through digital modes, including on the online Complaint Management System (CMS) portal, e-mail, and Centralised Public Grievance Redress and Monitoring System (CPGRAMS).

About The Resolution:

Majority 66.1% of the maintainable complaints were resolved through mutual settlement/conciliation/mediation. The rate of disposal of complaints by ombudsmen improved to 97.9% in 2021-22 from 96.6% in 2020-21.

One Nation, One Ombudsman:

Under the RBI-OS, 2021, following the ‘One Nation, One Ombudsman‘ principle, the territorial jurisdictions for the ORBIOs have been abrogated, and complaints are assigned to all the ORBIOs by the CMS.

A Nationwide Customer Satisfaction Survey:

Talking about other developments during the year, the report said, a Nationwide Customer Satisfaction Survey to assess the satisfaction level of the complainants who had approached the RBIOs for redressal of their grievances was undertaken through a third-party agency, which indicated the overall satisfaction level of the complainants was at 59.55 percent. 

Piyush Shukla

Recent Posts

VIRUS Full Form, Know Everything About It

The world is advancing digitally with Artificial Intelligence and Cloud Computing transforming daily tasks and…

35 mins ago

UPI Transactions Reach Record High in October with Rs 23.5 Trillion in Value

In October 2024, India witnessed a record-breaking surge in digital transactions, propelled by the Unified…

47 mins ago

October GST Collections Surge by 8.9% Year-on-Year to Reach Rs 1.87 Lakh Crore

Gross Goods and Services Tax (GST) collections in October reached Rs 1.87 lakh crore, marking…

2 hours ago

Top-10 Most Expensive Schools in India as of 2024

Education in India is highly valued, and some schools provide top-quality education along with world-class…

2 hours ago

Praveena Rai Takes the Appointed as CEO and MD of MCX

Multi Commodity Exchange of India (MCX), Praveena Rai has officially taken office as Chief Executive…

3 hours ago

Top-10 Fittest Countries in the World 2024, Check the List

Physical fitness and a healthy lifestyle are key to living longer and feeling good. Many…

4 hours ago