Complaints Against Credit Cards On The Rise In FY11: RBI

According to the annual report of the banking ombudsman released by the Reserve Bank of India (RBI) on Friday 24th February, the call centres set up by banks to address customer grievances are not able to resolve customer complaints and fulfill their objective effectively. Because, most of the queries relating to credit cards handled by the call centres and the staff employed in these call centres were not familiar with the banks’ card products and banks’ customers.

The report from banking ombudsman office says that, 24 percent of the total complaints received by banks in 2010-11 are pertaining to debit and credit card transactions carried out at ATMs. Issues related to pension payments were ranked second in the list of customer grievances. Non-adherence to the prescribed working hours and delays, refusal to accept or failure to offer services were other areas of complaints.

The deputy general manager of RBI said that, selling unsuitable products and charging unreasonable or unfair fee leads to challenges for customer services in the Indian banking industry. Thus RBI said that, internal machinery for customer grievance redressal in banks needs to be more relevant and made more responsive and robust.

Comments are closed.