Business

Complaints at RBI ombudsman rise 20% in FY19

The Reserve Bank of India’s (RBI) banking ombudsman offices saw in increase in complaints by 19.75% in 2018-19, with non-observance of fair practices code accounting for the maximum number of complaints.

The RBI received 1,95,901 complaints in 2018-19, up by 32,311 compared with the previous year, the annual report on Ombudsman Schemes of RBI for the year 2018-19 showed.

While non-observance of fair practices code accounted for the maximum number of complaints, its percentage share came down from 22.10% in 2017-18 to 19.17% in 2018-19. Complaints on ATM and debit card issues increased from 15.08% in 2017-18 to 18.65% in 2018-19, RBI said.

The number of complaints pertaining to ‘mis-selling’ have gone up from 579 complaints in 2017-18 to 1,115 in 2018-19, an increase of 92.57%.

The disposal rate for 2018-19 was 94.03% as against 96.46% in 2017-18. The reduction in disposal rate is largely due to rise in volume of complaints with resource remaining the same, RBI said. (End)

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Printable version | Feb 28, 2020 8:49:26 AM | https://www.thehindu.com/business/complaints-at-rbi-ombudsman-rise-20-in-fy19/article30331994.ece

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