(MENAFN- KNN India) RBI surveyed almost 4000 ATMs across the country out of which almost 1/3rd of the ATMs were found to be not working at that point when surveyed, said RBI Deputy Governor SS Mundra.
Mundra said this while addressing a Conference of the PCCOs organized by BCSBI, Mumbai on Customer Service in Banks: Caveat Venditor.
While talking about Cyber Frauds and Grievance Redressal, he said, “As the online transactions have increased so have the rise in complaints related to electronic banking transactions.”
Complaints related to unauthorized fund transfers, fraudulent withdrawals from ATMs using duplicate cards, phishing E-mails aimed at extracting personal information etc. have witnessed manifold increase in recent times.
It is imperative to have a robust mechanism to prevent incidents of fraud in areas of mobile/net banking and electronic fund transfer so as to retain customers’ confidence in these delivery channels, Mundra said.
Raising customer awareness on safe usage of such channels should also be an important item on the agenda of the banks. Let me mention here that RBI is already examining whether to issue regulatory directions with regard to limiting the liability of customers on fraudulent transactions arising out of cards and electronic banking transactions.
“Incidentally our teams have recently undertaken a survey of almost 4000 ATMs across the country with sample size fairly representing geographies and bank categories. Survey results are not comforting in any way,” RBI Deputy Governor highlighted.
Almost 1/3rd of the ATMs were found to be not working at that point. Violation of regulatory instructions on display material, facilities for differently abled etc. were also observed. We will be taking necessary supervisory action in this regard, he said.
On Mis-selling, Mundra said, there has been increasingly large number of cases of mis-selling of third party products, particularly insurance products to the customers by the banks by bundling them with loans. (KNN Bureau)