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What are Common Grievances faced by the Consumers/ Customers against the Banking system?
Based on statistical analysis of Grievances against the Banking System, the Common Grievances against Banking Systems are as follows: A. Bank-Branch Services related :- ? Delay / denial of Services ? Wrong Service Charges/ Excess Service charge { including Interest } recovered. ? Misbehavior by Bank-staff / DSA/ Bank MITRA B. ATM Related: ? Money not dispensed, but A/C got debited. ? Discrepancies in Amount dispensed by the ATM C. Miscellaneous: ? Unsatisfactory Grievances Redressal ? Wrong Promises or Unfulfilled Promises.
What is Grievances redressal for Bank-Branch Services related grievances
The complainant is advised to start the matter by approaching the bank-branch & Nodal Officer .
How to take action for your grievances against a bank-branch?
The complainant is advised to follow the following 3 Tier System: Tier-I : Bank-Branch:{ your parent Bank-branch-where you are having you?re a/c.} 1) Lodge a complaint, in writing, with the concerned branch . 2) If the complainant grievance is not redressed at the branch, consumer may approach the Nodal Officer of the Bank , whose contact details should be available at the branch.
Grievances redressal for ATM Services related grievances
Consumer of a failed ATM transaction should lodge written complaints immediately giving particulars of the transaction and asking for details/documents from the banks at the following places: (i) Acquiring Bank Branch (The branch that controls the ATM that was used) The consumer must submit the complaint and take acknowledgement on the copy of the complaint. It is very likely that acquiring bank officials will tell you to go to the issuing bank for lodging your complaint or may tell you that you should wait for a few days for the amount of failed transaction to be automatically credited back into your account. (ii) Issuing Bank Branch (Issuing Bank - The bank that issued your ATM/Debit Card) The complainant needs to make a written complaint with the concerned bank (Issuing Bank - The bank that issued your ATM/Debit Card) and wait for a response. If the bank claims the transaction to be successful or does not respond to your complaint even after 30 days of the date of submitting complaint, can make a complaint to the Banking Ombudsman .
Can an Individual have any number of 'Basic Savings Bank Deposit Account' in one bank?
No. An individual is eligible to have only one 'Basic Savings Bank Deposit Account' in one bank.
Can an individual have other deposit accounts where one holds 'Basic Savings Bank Deposit Account?
Yes. One can have Term/Fixed Deposit, Recurring Deposit etc., accounts in the bank where one holds 'Basic Savings Bank Deposit Account.
Whether there are any restrictions like age, income, amount etc criteria for opening BSBDA by banks for individuals?
No. Banks are advised not to impose restrictions like age and income criteria of the individual for opening BSBDA.
What are KYC norms applicable to BSBDA accounts? Are there any relaxations in KYC norms for BSBDAs?
The 'Basic Savings Bank Deposit Account' would be subject to provisions of PML Act and Rules and RBI instructions on Know Your Customer (KYC) / Anti-Money Laundering (AML) for opening of bank accounts issued from time to time. BSBDA can also be opened with simplified KYC norms.
What kinds of services are available free in the 'Basic Savings Bank Deposit Account??
The services available free in the 'Basic Savings Bank Deposit Account? will include deposit and withdrawal of cash; receipt / credit of money through electronic payment channels or by means of deposit / collection of cheques at bank branches as well as AT.
What are the grounds of Complaints that can be raised with Ombudsman?
Complaints Pertaining to Deficiency in any of the Banking Services such as:- o Non-payment or delay in payment of cheques, drafts, bills, etc. o Non acceptance of small denomination notes without any reason and also charging of commission in respect thereof. o Non issuance of drafts to customers. o Non adherence to prescribed working hours by the branches. o Failure to honour guarantee or letter of credit. o Claims in regards to fraudulent withdrawals or fraudulent encashment of cheque or a bank draft. o Complaints for any of the accounts pertaining to delays , non credit of proceeds to parties accounts. o Complaints for non observance of RBI?s directives applicable to rate of interests on deposits or violation of directives on any other matter o Complaints from exporters for delays in receipt of export proceeds, handling of export bills, collections of bills o Complaints from NRI?s in regards to remittance from abroad o Complaints pertaining to refusal to open deposit accounts without any valid reason o Complaints Concerning loans & advances o Non observance of RBI directives on interest rates o Delays in sanction or disbursement of loan applications o Non acceptance of loan application without any valid reason o Non observance of any other directives by RBI.
What is the Procedure for lodging complaint with the Banking Ombudsman?
Any person who has a grievance against services as mentioned above in Clause 12 of the scheme can approach Banking Ombudsman for addressing his concern. The person can make a complaint to Banking Ombudsman within whose jurisdiction the branch or office of the bank complained against is located. The complaint filed should be in writing duly signed by the complainant. It should clearly state the name and address of complainant along with name and address of branch of bank against which complaint is being made. It should also give facts causing complaint supported by documents along with description of nature and extent of loss.
What are the situations in which Banking Ombudsman may reject Your complaints?
o If the complainant hasn?t first approached the bank named in the complaint and the complaint would be accepted only if the other bank has o Rejected the complaint or o No reply received within 1 month after the concerned bank received the case or o Person is not satisfied with the reply given o If the complaint has been made to Ombudsman later than one year after the cause of action o If the complaint is in regards to the same subject matter which was settled though Banking Ombudsman in any previous proceedings o If the complaint for same subject matter is pending before any court, tribunal or arbitrator or a final order has already been passed by such an authority o If the complaint is frivolous, vexatious in nature o If there is no loss or damage caused to complainant o If it is pursued without sufficient cause and reasonable diligence o If the complaint is outside the purview of the scheme o If the bank branches fall outside the jurisdiction of Ombudsman as several states are clubbed together since it`s not available in all states.
Do's and Don'ts for Banking
? Always keep the helpline details of the bank. ? Ensure the safety of your Passbook / Cheque book / Cards . Maintain the secrecy and confident ability of PIN Code /OTP etc. Never share with any one on Telephone or e-mail. The code should be changed at regular intervals. If your card is lost/ swallowed then immediately inform the bank. If you find suspicious looking people around you, use another ATM. ? Do not hand over card to anyone. Even in case of POS transaction , it should be used in your presence. ? Do not accept help from strangers for doing any ATM/ POS/ on-line transactions. ? Please mention account number, name and contact no. on the back side of the cheque before depositing with Bank. ? Banks are to provide to the individual customers upfront and in a timely manner, complete information on the charges applicable for all basic services. Banks have to provide its advance information . ? Banks are to collect only notified service charges from the customers and inform the customers in an appropriate manner recovery of service charges from the account or the transaction. ? Communicate personal information only via secure web sites. In fact while conducting online transactions, look for a sign that the site is secure such as a lock icon on the browser's status bar or a "https:" URL whereby the "s" stands for "secure" rather than a "http:". ? Also, check if the website address is correct before conducting online transactions. ? Protect your computer by installing effective anti-virus / anti-spyware / personal firewall on your computer / mobile phone and update it regularly. ? Check your online accounts and bank statements regularly to ensure that no unauthorized transactions have been made. ? Do not disclose details like passwords, debit card grid values, etc. to anyone, even if they claim to be bank employees or on e-mails/links from government bodies like RBI, I.T. Dept., etc ? Register for SMS alerts to keep track of your banking transactions. For more information please visit https://www.rbi.org.in/Scripts/FAQDisplay.aspx