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Complaints with Banking Ombudsman Rise by 27% in FY17
December 22, 2017
The number of complaints raised with the banking ombudsman in the financial year 2016-17 were up by 27% from the previous financial year, a report released by the central bank RBI says.
The total number of complaints received in FY16 stood at 1.02 lakhs, and increased to 1.3 lakhs in FY17.
The majority of the complaints (34%) were regarding non-observance of fair practice, failure to meet commitments, and the Banking Codes and Standard Boards of India Standards Board of India (BCISBI). 12.5% of the complaints were about ATM and Debit cards, and 6.4% about credit cards.
