Banking complaints up 27% to 1.3 lakh
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.