Business Standard

Ombudsman on cards after hike in digital transaction frauds: RBI

The rise in complaints was because of deficiencies in banking services


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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