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Complaints Against Private Banks are Increasing Faster Than Public Sector Banks
December 28, 2017
According to the data recently released by the central bank RBI, the volume of complaints raised against the private sector banks are growing faster than the public-sector banks (PSBs).
Although the number of complaints with the PSBs make for 62% of the total complaints received, with 27% complaints with the largest lender SBI alone, the year over year growth in the volume stood at 28% compared to the 30.2% growth in the private sector banks.
HDFC had the largest number of complaints received (9,884 in total) in the private sector bank category, with the complaints related to debit cards and credit cards topping the list. With 9,541 complaints, ICICI came second.
