-
The 21 Offices of the Banking Ombudsman received 1,63,590 complaints in the year 2017-18 marking an increase of 24.9% over previous year.
-
Offices of Banking Ombudsman maintained a disposal rate of 96.5% as compared to 92.0% in the previous year.
-
The major grounds of complaints received during the year were non-observance of fair practices code (22.1%), ATM and debit card issues (15.1%), credit card issues (7.7%), failure to meet commitments (6.8%), mobile and electronic banking (5.2%).
-
Complaints received on grounds such as problems relating to 'Pension', 'Levy of Charges without Notice', 'Loans and Advances', 'Remittance', 'DSA and Recovery Agents' and 'Mis-selling' each accounted for 5% or less of the total complaints received.
-
65.8% of maintainable complaints were resolved by agreement i.e., through mediation. During the previous year, the figure stood at 42.4%.
-
148 Awards were issued by 12 out of the 21 Banking Ombudsman in 2017-18 as compared to 31 Awards issued in the previous year.
-
The Appellate Authority received 125 Appeals in the year 2017-18 as compared to 15 Appeals in the previous year. The rise in the number of Appeals followed expansion of the grounds on which Appeals can be filed against the decision of BOs with effect from July 1, 2017.
-
The average cost of handling a complaint came down from