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Consumer Complaints Surge Against Private Banks
Dec 14, 2016

So apart from the issues we have already highlighted about banks above, here is another interesting development. According to an article on Economic Times, the office of the banking ombudsman had received around 1.02 lakhs consumer complaints in FY16. The Banking Ombudsman is a senior official appointed by the Reserve Bank of India to redress customer complaints against deficiency in certain banking services.

While the major complaints were lodged against the PSUs, but complaints against the private sector saw maximum rise. Widely known for providing efficient services, the private sector seems to have come under the line of fire.

Data Source:Economic Times

This Chart Of The Day was published in The 5 Minute WrapUp - New Scams, Same Old Story

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