Complaints related to cards, net banking, and fair practices rose during FY21: RBI 

The top-five grounds of complaints received at the Office of Banking Ombudsman during July 2020 – March2021, according to an RBI report, were ATM/debit cards, mobile/electronic banking, credit failure to meet commitment, and non-observance of fair code practices.

It covers activities under the banking ombudsmen scheme, 2006 (BOS), the Ombudsmen Scheme for Non-Banking Financial Companies, 2018 and the Ombudsmen Scheme for Digital Transactions, 2019. These schemes were introduced by Prime Minister Narendra Modi to increase transparency and provide a single platform for complaints.

According to the report, the total number of complaints received under all three ombudsman schemes climbed by 22.27 percent on an annualized basis, reaching 3, 03,107 during the period analyzed. The BOS accounted for 90.13 per cent of total complaints (2, 73,204) received under the three ombudsman schemes. The number of complaints received under OSNBFC and OSDT were 8.89% and 0.98 percent of the overall number of complaints, respectively.

ATM/debit card complaints, mobile/electronic banking complaints, and credit card complaints accounted for17.40%, 12.98%, and 12.36% of total complaints received from July1, 2020 to March31,2021, respectively. The corresponding percentage of complaints against these grounds during July 1, 2019–June 30, 2020, was 21.97 percent, 13.38 percent, and 9.30 percent, respectively.

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