BOs can’t entertain DeMo complaints

Customers’ complaints about problems like cash withdrawal and exchange of old notes faced post demonetisation cannot be entertained under the Banking Ombudsman (BO) scheme, the Reserve Bank has said.

The RBI said that demonetisation is not one of the 27 grounds under which a customer can lodge a complaint with the Banking Ombudsman.

During the demonetisation period, people had to face various problems in form of restrictions on withdrawal of currency notes and exchanging of old `500 and `1,000 notes that were withdrawn with immediate effect from midnight of November 8, 2016.

“Banking Ombudsman Scheme (BO Scheme), 2006 specifies 27 grounds of complaints under which complaints can be lodged. Complaints related to demonetisation is not a ground of complaint specified under the Scheme,” a Right to Information query sent to the RBI has revealed.

In response to the question as to how many complaints came to RBI ombudsman offices across India related to demonetisation, the RBI stated: “As such information is not available.”

When contacted, a banking ombudsman officer said, “Demonetisation does not come under Ombudsman Scheme.”

All India Bank Officers' Confederation (AIBOC) Secretary General Harvinder Singh said a lot many complaints came to banks during the demonetisation period and the lenders tried to resolve them to the extent possible, barring a few.

“Many complaints came through emails, letters, phone calls and through personal visits. Even complaints were made directly to the department of financial services,” Mr Singh said.