(MENAFN- KNN India) New Delhi, Dec 2 (KNN) Complaints registered under the Reserve Bank of India's Integrated Ombudsman Scheme (RB-IOS) increased 13.55 per cent to 13,34,244 in the fiscal 2024-25 (FY25) as against 11,75,075 in the previous fiscal, as per the RBI's Annual Report of the Ombudsman Scheme.

Among various categories of complaints, complaints related to loans and advances were the highest in FY25, followed by complaints related to credit cards which became the second highest contributor to complaints.

Notably, complaints related to mobile/electronic banking decreased by 12.74 per cent year-on-year.

As per the RBI report, complaints against the banks formed the largest portion (2,41,601 complaints), accounting for 81.53 per cent of complaints received by the Offices of the RBI Ombudsman (ORBIOs), followed by non-banking financial companies or NBFCs (43,864 complaints) accounting for 14.80 per cent during the fiscal ending March 2025.

Among the banks, the share of complaints received against private sector banks was the highest and increased from 34.39 per cent in FY24 to 37.53 per cent in FY25. However, the share of complaints received against the public sector bank, which was the highest in FY24, declined from 38.32 per cent in FY24 to 34.80 per cent in FY25.

Complaints against credit information companies (CICs) recorded the steepest rise among regulated entities, nearly quadrupling over three years amid growing borrower concerns regarding credit scores and data accuracy.

CIC-related grievances increased sharply-from 1,039 in 2022–23 to 3,847 in 2023–24, and then to 4,585 in 2024–25-with over 84 per cent tied to loan-related issues such as incorrect reporting or score mismatches.

Meanwhile, ATM and debit card complaints fell sharply-from 14.56 per cent in FY23 to 7.47 per cent in FY25-signalling a shift towards digital payments.

(KNN Bureau)

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