Rise in Banking Ombudsman complaints
The Reserve Bank of India (RBI) released its “Annual Report of the Ombudsman Schemes for the year 2020-21”, highlighting a rise in Banking Ombudsman complaints.
Key Findings of the report
- During April 2020-March 2021, report witnessed a 22.27 per cent increase in number of complaints under various ombudsman schemes.
- ATM & debit cards, mobile banking and credit cards accounted for major chunk of the complaints.
- During this period, volume of complaints stands at 4,04,143.
- Chandigarh, Kanpur and Delhi received the maximum number of complaints.
Major areas of complaints
- Under the scheme, major areas of complaints are related to ATM or debit cards, mobile or electronic banking and credit cards. This area collectively accounted for 42.74 per cent of the total complaints.
- This year, RBI changed the reporting period to April-March.
- Complaints related to credit cards, direct selling agents (DSAs) and failure to meet commitments have increased during July 1, 2020 to March 31, 2021 as opposed to July 1, 2019 to June 30, 2020 period.
City with maximum complaints
- RBI data further highlights that, Chandigarh received the maximum complaints during the same period. Total number of complaints stand at 28019. It accounts for 10.26 per cent of the total complaints.
- Chandigarh is followed by Kanpur with 21,168 complaints and New Delhi with 18,767 complaints.
- Kanpur accounts for 7.75 per cent and Delhi accounts for 6.87 per cent of the total complaints.
- North zone accounted for maximum share of complaints, that is 43.10 per cent, in 2020-21.
- It is followed by West zone with 24.35 per cent of the complaints.
- South zone with 19.18 per cent of the complaints and
- East zone with 13.37 per cent of the total complaints.
- With respect to terms of complaints growth, West zone registered the highest year-on-year growth with 13.51 per cent. It is followed by North zone with 12.65 per cent, East zone with 9.00 per cent while South zone with 4.73 per cent growth.
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