Banks to NBFCs, customer complaints rise as redressal system slows down

Complaints about mobile or e-banking form majority of those received by the RBI ombudsman against banks

Complaints by customers of banks and other financial entities under the Reserve Bank – Integrated Ombudsman Scheme (RB-IOS), 2021 soared by 32.81 per cent in 2023-24 from 2022-23 levels, according to an annual report of the regulator.

 

The number includes complaints received by the Reserve Bank of India (RBI) ombudsman as well as the Centralised Receipt and Processing Centre. The national average of 2.85 complaints per 100,000 accounts in March 2022 surged to 8.9 complaints in March 2024, said the report on the ombudsman scheme.

 

However, the disposal rate of complaints by the ombudsman fell from 97.99 per cent in