Complaints With Bank Ombudsman Surge 25% In FY18: RBI Report

PC: The Economic Times

The number of complaints registered at banking ombudsman offices have seen a 25% increase in the fiscal year 2018, with the majority of these complaints coming from urban centres owing to increased awareness and poor internal redressal mechanisms of banks.

“The banking ombudsman offices in tier-1 cities like New Delhi, Mumbai, Chennai, Kolkata, Bengaluru and Hyderabad accounted for more than 57% of the total complaints received by all BO offices,” the RBI Report on Trend and Progress of Banking in India has stated.

Source: The Economic Times

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