Did you know the RBI Ombudsman received 68% more complaints in FY2023? Here’s how to file your grievance

• If your bank does not resolve the complaint within a month, you can approach the RBI Ombudsman
• You can file your complaint online through the RBI's CMS portal or send it via email or post to the Ombudsman office
• Make sure to include all relevant details and documents supporting your complaint while raising it

If you are a regular user of banking services in India, you are likely to have faced some hassle when doing banking transactions. These could be levying charges without notice, credit card-related issues, no cash disposal at an ATM even after the money is deducted and so on. You are not alone!

Recently, the Reserve Bank of India (RBI) reported that the complaints to the Ombudsman have gone up by 68 per cent in 2022-23, with a total of 7,03,544 complaints. One-fifth of the complaints were concerning mobile and internet banking, while another-fifth were concerning loans and advances. The central bank’s “One Nation One Ombudsman” principle provides a single window for complaints against regulated entities, including banks, Non-Banking Financial Companies (NBFCs), Payment System Participants and Credit Information Companies.

So, if you have any grievance, what can we do to get it resolved?

First, register your complaint with the bank

The first line of complaint is the bank branch. One may call up the customer care service for resolution of the complaint. If that does not address the problem, one needs to approach the respective bank branch.

“Fill in your complaint at the complaint register of the bank. If not available, ask for it or fill it up online on the bank’s website,” says Hina Shah, director, of LUHEM, a financial planning firm.

Next, complain to the nodal officer

To address unresolved complaints with a bank, customers can contact the nodal officer of the bank, designated to handle escalated issues. Locate the nodal officer's details on the bank's official website, typically found under "Customer Grievance Redressal”.

Prepare a detailed complaint, including relevant dates and transaction details. Draft a formal complaint letter or email, specifying your expectations for resolution. Include previous complaint reference numbers if available. Submit the complaint to the nodal officer through the provided contact details.

Approach the ombudsman if not resolved in a month

If the bank does not resolve the complaint within a month, approach the ombudsman.

“If you are not satisfied with the resolution or if you don't receive a response within 30 days, you can approach the RBI Ombudsman. You can file your complaint online through the RBI's complaint management system (CMS) portal or send it via email or post to the Ombudsman office jurisdictional to your bank's location,” says Adhil Shetty, CEO of BankBazaar.

Make sure to include all relevant details and documents supporting your complaint while raising it.

As a general guideline, the Banking Ombudsman aims to resolve complaints within a reasonable time frame. The ombudsman should address the complaint within one month. However, this may be extended to two months in certain cases, considering the complexity of the matter.

It's important to note that the timeline can also be affected by the cooperation of the complainant and the bank involved in providing necessary information promptly. If there are delays or additional information is required, the resolution process may take longer.