Customers using banking services sometimes encounter various problems and need a quick resolution of the complaints they have submitted.
There are some common complaints that many customers highlight, such as high fees and charges that banks charge for various services such as ATM withdrawals, check bounce, non-maintenance of minimum balance, etc.
However, there are some complaints that are internal to a particular bank and a customer needs a resolution.
It could also be poor customer service. Customers often complain about poor customer service from banks. Long waiting times, unresponsive customer service and lack of clarity about procedures are some of the common complaints.
Many customers have reported instances of fraudulent activity such as unauthorized transactions, phishing and identity theft. Customers also complain about technical glitches in online banking, such as delayed or failed transactions, incorrect balances and system glitches.
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Customers have also reported instances of unfair lending practices by banks, such as charging high interest rates, imposing hidden fees and offering unsolicited loans.
Many customers have complained about banks misselling financial products such as insurance policies, mutual funds, and credit cards without providing full information on terms and conditions.
In the midst of all these circumstances, customers are frustrated with the delays in resolving their complaints and grievances, in some cases taking several months or even years to resolve.
It is important to note that not all banks have these issues and that banks have internal mechanisms for resolving complaints from the branch level all the way up to the head office. Banks have dedicated helpline numbers and online portals to file a complaint if the branch manager does not take action on the issue raised by a customer.
However, there are situations where a customer is dissatisfied with the bank and wants to raise this to an authority, who can instruct the bank to take action.
In India it is now simple and easy to make a complaint to the Ombudsman of the Reserve Bank Of India and track its progress.
How to file a complaint against the bank with the RBI?
If your complaint against a bank/NBFC or payment system participant is rejected or not resolved to your satisfaction by the affected entity, you may now file a complaint through the Complaint Management System or CMS Portal on the RBI website (https:/ /cms[dot]rbi[dot]org[dot]in) or via the link on the RBI App.
CMS provides a single platform for quick and easy online filing, complaint tracking and also appeals submission. All complaints submitted on CMS will be forwarded to the appropriate RBI Ombudsperson/Regional Offices of RBI.
This site is very user friendly and provides information such as ‘How to make a complaint’, details/documents required for making a complaint, how to track your complaint, how to appeal against the Ombudsman, as well as the addresses and mailing list of consumers’ Education and protection cells.
Customers should note that before approaching the Ombudsman, it is mandatory to first submit the complaint to the bank concerned. Only in the absence of a response from your bank within 30 days of submitting the complaint, or if the complaint is wholly or partially rejected by the bank, can the complaint be registered with the Ombudsman.
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