MANU/RPRL/0215/2015

Ministry : Reserve Bank of India

Department/Board : RBI

Press Release No. : 2015-2016/1249

Date : 26.11.2015

Reserve Bank of India releases the Annual Report of the Banking Ombudsman Scheme 2006: 2014-15

The Reserve Bank of India, today, released the Annual Report of the Banking Ombudsman Scheme for the year 2014-2015. The Banking Ombudsman Scheme was established by the Reserve Bank in 1995 to provide speedy solutions to the grievances faced by bank customers. There are 15 Offices of Banking Ombudsmen (BOS) across the country. The report is a synopsis of activities of all the 15 offices of Banking Ombudsman.

Highlights of the Report

• During the year 2014-15, 85,131 complaints were received by 15 Offices of the Banking Ombudsmen.

• The number of complaints increased by 11.2 per cent as compared to the previous year.

• Offices of Banking Ombudsmen maintained a disposal rate of 96 percent.

• The Banking Ombudsmen issued 87 Awards during the year.

• The Appellate Authority received 73 appeals during the year against the Awards/decisions of Banking Ombudsmen.

• Complaints pertaining to failure to meet commitments, non-observance of fair practices code, Banking Codes and Standards Board of India (BCSBI) Codes taken together constituted the largest category of complaints with 29.2 per cent of complaints received.

• Card related complaints comprised 21.3 per cent of total complaints received. Complaints pertaining to ATM/Debit card operations comprised 12.5 per cent of total complaints received whereas, 8.8 per cent complaints were pertaining to credit card operations.

• Complaints in the category of Pension (6.8 per cent), Levy of charges without prior notice (........