Bank­ing com­plaints up 27% to 1.3 lakh

India Business Journal - - NEWS ROUND-UP -

Com­plaints re­ceived by the Of­fice of Bank­ing Om­buds­man (OBO) in­creased by 27 per cent in FY17 to 1.3 lakh.

This is a lit­tle over 27 per cent higher than 1.02 lakh com­plaints han­dled by the OBO in 2015-16. Fail­ure to meet com­mit­ments and nonob­ser­vance of fair prac­tices code ac­counted for 34 per cent of the com­plaints re­ceived. ATM, credit and debit card com­plaints rep­re­sented 18.9 per cent of the to­tal com­plaints. Pen­sion pay­ments ac­counted for 6.5 per cent, while re­main­ing cat­e­gories, in­clud­ing loans and re­mit­tances, were all be­low 5 per cent of the to­tal com­plaints.

Newspapers in English

Newspapers from India

© PressReader. All rights reserved.