Digital Payments Led Complaints Received Under RBI's Ombudsman Scheme In FY22

The Reserve Bank of India received the maximum complaints relating to digital modes of payment and transaction under the Ombudsman scheme in fiscal 2022.

Over 4.18 lakh complaints were registered under RBI's Ombudsman scheme in financial year 2022, according to an annual report released by central bank on Jan. 4.

Complaints relating to the digital modes of payment and transactions were the highest in number—constituting 42.12% of the total complaints, the report said. The overall volume of complaints received under the Ombudsman schemes and by the consumer education, protection cells increased by 9.39% year-on-year in FY22.

The Ombudsman scheme enables resolution of customer grievances related to services provided by entities regulated by RBI such as banks, non-banking financial companies, payments banks, among others.

While complaints related to ATMs and debit cards dominated the overall complaints received against banks, NBFCs were complained about the most in relation to the non-observance of the RBI's fair practice code, their loan and advance practices, and the non-observance of RBI directions. 

About 64% of the complaints received by the Ombudsman were resolved through mutual settlement, conciliation or mediation, the report noted.

Complaints Across Categories Against RBL Bank

Even though there are big differences in which banks get the most complaints for each type of service, RBL Bank is one of the top five banks that get the most complaints per 1000 cases.

The bank has the highest share of complaints among digital complaints against a bank per 100 digital transactions executed through it. It also occupies the top spot among complaints pertaining to debit cards. City Union Bank and DCB Bank have the most complaints with regards to credit cards and non-digital complaints.

The rate of complaint resolved by the RBI Ombudsman has increased to 97.97% in 2021-22 from 96.59% in 2020-21, according to the report.