According to a report released by the Reserve Bank of India (RBI) on Wednesday, issues related to ATM/debit cards and mobile/electronic banking were the most common grounds of complaints received by the Office of Banking Ombudsman (OBO) from April 1 to November 11, 2021.
The number of complaints received under the Ombudsman Schemes/Consumer Education and Protection Cells in 2021-2022 increased by 9.39{66b0acea7e44836f9b35d2e1dfd840ac263b1a1482ef1ea42798163685e86d37} compared to the previous year, totaling 4,18,184.
Of these complaints, 14.65{66b0acea7e44836f9b35d2e1dfd840ac263b1a1482ef1ea42798163685e86d37} were related to ATM/debit cards and 13.64{66b0acea7e44836f9b35d2e1dfd840ac263b1a1482ef1ea42798163685e86d37} were related to mobile/electronic banking. The majority of complaints, 90{66b0acea7e44836f9b35d2e1dfd840ac263b1a1482ef1ea42798163685e86d37}, were received through digital channels such as the online Complaint Management System (CMS) portal, email, and Centralised Public Grievance Redress and Monitoring System (CPGRAMS).
The rate of complaint resolution improved to 97.97{66b0acea7e44836f9b35d2e1dfd840ac263b1a1482ef1ea42798163685e86d37} in 2021-2022 from 96.59{66b0acea7e44836f9b35d2e1dfd840ac263b1a1482ef1ea42798163685e86d37} in 2020-2021, with 66.11{66b0acea7e44836f9b35d2e1dfd840ac263b1a1482ef1ea42798163685e86d37} of complaints being resolved through mutual settlement, conciliation, or mediation.
The CMS was upgraded to improve efficiency and the coverage of the RBI-OS was extended to include non-scheduled Urban Cooperative Banks with deposits of INR 50 crore or more as of the end of the previous financial year, as well as Credit Information Companies starting September 1, 2022.
During the period from November 12 to March 31, 2022, 1,86,268 complaints were received under the RBI-OS. A nationwide customer satisfaction survey indicated that the overall satisfaction level of complainants was at 59.55{66b0acea7e44836f9b35d2e1dfd840ac263b1a1482ef1ea42798163685e86d37}.