2 lac complaints filed against Banks to RBI Ombudsman

As per the first report released on Monday under the Reserve Bank of India’s Integrated Ombudsman Scheme (RBI-IO), 2021, a total of 196,635 complaints have been received against banks. This constitutes the highest number of complaints within the overall tally, accounting for 83.78% of the complaints received by the RBI Ombudsman (RBI-O). The report indicates that complaints related to non-banking payment systems had the highest representation, particularly those associated with mobile/electronic banking. Complaints related to non-adherence to the Fair Practices Code in the case of non-banking financial companies were also prominent.

In the fiscal year 2022-23, the number of complaints registered under RBI’s Ombudsman schemes increased by 68.24% to reach 7.03 lakh. These complaints covered various areas such as mobile/electronic banking, loans and advances, ATM/debit cards, credit cards, pension payments, fund transfer, para-banking, and others.

In the financial year 2022-23, RBI-O resolved a total of 2,34,690 complaints, with the Centralized Receipt and Processing Centre (CRPC) handling 4,68,854 complaints. The average time taken to resolve complaints in the RBI-O was reduced to 33 days, compared to 44 days in 2021-22. Of the complaints deemed fit for resolution under the scheme, 57.48% were resolved through mutual agreement, conciliation, or mediation.