Complaints received by offices of banking ombudsmen increased by 8.55 per cent during the year 2013-2014, as per the annual report of the Banking Ombudsman Scheme (BOS) for the year 2013-2014 released by Reserve Bank of India.
The scheme was established by the apex bank in 1995 to provide speedy solutions to the grievances faced by bank customers. There are 15 offices of banking ombudsman attached to RBI offices all over India. The report is a synopsis of activities of all the offices of banking ombudsman.
BO Scheme provides for 27 grounds of complaints/deficiencies in bank services such as Fraud, credit card complaints, internet banking, deficiencies in providing promised services by both bank and its sales agents, levying service charges without prior notice to customers, non- adherence to fair practices code adopted by individual banks, etc. Complaints may be made by post, in person or by email.
The report indicates that of the total complaints received 32 per cent were against SBI and associates and nationalised banks each, 22 per cent against private sector banks and 6.5 per cent against foreign banks.
Complaints pertaining to failure to meet commitment, non-observance of fair practices code, Banking Codes and Standard Board of India (BCSBI) Codes taken together constituted largest category of complaints (26.6 per cent of complaints received), followed by card related complaints (24.1 per cent).
As per the report Banking Ombudsman offices redressed 96 per cent of the complaints received during the year.
Complaints against banks increase by 8.55% during 2013-14
Published On - February 18, 2015
