New Delhi [India], December 1 (ANI): The Reserve Bank of India (RBI) on Monday highlighted a significant rise in consumer grievances, with 13.34 lakh complaints registered during FY 2024-25, a 13.55% increase from FY 2023-24.
In its Integrated Ombudsman Scheme Annual Report for FY 2024-25, RBI highlighted an expanded digital complaint footprint, improved disposal efficiency, and increasing concerns around loans, credit cards and digital frauds.
Of these compaints, the Centralised Receipt and Processing Centre (CRPC) handled 9.11 lakh complaints, while Offices of the RBI Ombudsman (ORBIOs) received 2.96 lakh complaints through direct CMS submissions and assignments by the CRPC.
Despite the rising volume, the ORBIOs managed to maintain an impressive 93.07% disposal rate, clearing 2.90 lakh complaints during the year.
The loans and advances remained the largest source of consumer grievances, accounting for 29.25% of total complaints. Credit card-related issues witnessed a steep rise of 20.04%, making them the second-largest category, while complaints related to mobile and electronic banking dropped by 12.74%, indicating either better system efficiencies or shifting consumer behaviour.
In terms of regulated entities, banks formed 81.53% of all complaints, followed by NBFCs at 14.80%.
Within the banking segment, private sector banks overtook public sector banks, contributing 37.53% of the total complaints, while public sector banks saw a decline to 34.80%.
The report also highlights a strong shift toward digital grievance lodging, with 91.22% of complaints at ORBIOs being filed online or via email.
The CRPC continued to play a pivotal role, closing 7.84 lakh complaints as non-maintainable or non-complaints, the r.
The toll-free facility received 9.27 lakh calls, a jump of nearly 29% over the previous year, with Hindi accounting for over 70% of the calls, followed by regional languages and English. (ANI)