Cards, e-banking plaints still dominate grievances

MUMBAI: Complaints related to debit cards, mobile/digital banking and credit cards continued to be the top three categories of customers grievances against banks according to the banking ombudsman’s annual report.
While the share of plaints against debit cards have fallen, those against credit cards are on the rise. The other two major categories of complaints are a failure by banks to meet commitments and non-observance of the fair practices code.
The share of ATM/debit card complaints, mobile/electronic banking and credit card complaints to total complaints received from July 1, 2020 to March 31, 2021 stood at 17.4%, 13% and 12.4%, respectively. The corresponding percentage of complaints against these grounds from July 1, 2019 to June 30, 2020 were 22%, 13.4% and 9.3%.

resize1 copy

The shift to digital platforms for grievance redressal has led to two major gains. First, the cost of redressing…

Source link