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Ombudsman on cards after hike in digital transaction frauds: RBI

The rise in complaints was because of deficiencies in banking services

RBI
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Reserve Bank of India

Nikhat Hetavkar Mumbai
The Reserve Bank of India (RBI) on Wednesday said it will implement the ombudsman scheme for digital transactions because of a rise in complaints. According to its annual report for 2017-18 (FY18), grievances related to digital transactions were 28 per cent of total complaints till the end of June this year. In 2016-17 (FY17), it was 19 per cent.

The rise in complains was because of deficiencies in banking services, said the report. 

The scheme is being implemented at a time when growth in digital transactions is also robust. The volume and the value of such transactions during the year

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First Published: Aug 30 2018 | 5:30 AM IST

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