Grievances from members of public were received during the event and hearings of complaint were conducted and some of the complaints were resolved on the spot. The OBO also organized the Banking Awareness Programmes at Killa’ in Gomoti district in Agartala, ‘Tanhril Village’, Aizawl, Mizoram. The OBO has also made significant progress in accepting/disposing grievances from the general public on the spot during awareness programmes. The OBO put up a stall in Regional Kissan Mela at village Ballowal, Balachaur, Punjab organized by Punjab Agricultural University in which various VIPs, Central/State Government officials, Academicians from University, bankers, farmers participated.

High rate of rejection of complaints under the BOS is due to lack of awareness about the applicability of the BOS amongst the bank customers. Though OBOs are making efforts to educate the customers about the BOS through their awareness campaigns, outreach activities, Town Hall events etc., these efforts need be supplemented by the banks. 4.5 Non-maintainable complaints are those complaints which do not fall within the ambit of the BOS. Reasons for treating the complaint as non-maintainable and their proportion to total complaints received during the year are given in Table 14. 3.4 Complaints on ‘loans and advances’ accounted for 5.7% of the complaints received. These complaints mainly pertained to non-sanction/delay in sanction of loans, charging of excessive rate of interest, non-return of title deeds, non-issuance of no due certificate, education loans, wrong/delayed reporting to CIBIL etc.

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Further the bank was advised to issue NOC in regard to clearance of this loan and arrange to update the appropriate status of the loan account of the complainant in records of the CIBIL. In addition, the bank was asked to pay a compensation of ₹ 20,000/- to the complainant towards inconvenience caused to him. A case was reported in which Rs. 74,000/- was paid without any authorisation to a foreign merchant on his website in Euros through a credit card. The complainant, within five minutes of receiving the SMS, informed the bank about the unauthorised transaction. The bank apparently told the complainant that the payment will be reversed provided he lodged an FIR with police. However, the bank did not reverse the transaction even after the complainant produced the FIR.

It was found that while two of the cheques were not encashed, one cheque was encashed fraudulently. In spite of repeated requests and demands by the account holder, his bank failed to address the non-payment. Further, complainant also lodged complaints with OBO against the bank on whom the cheques were drawn and who made the payment and presenting bank . The complainant had erred in providing the ATM/Debit card to his son, which was not permissible in terms of the conditions for usage of ATM card. Considering the above, the BO issued an award by apportioning the loss between the bank and the complainant in the ration of 70% and 30% respectively directing the bank to compensate the customer with 70% of the total loss on account of major lapses in adhering to regulatory instructions.

He also stated that he had not visited the bank on the day of disputed transaction. The complainant was maintaining an SB account in bank ‘A’ jointly with her late husband. She confirmed that neither her late husband nor she had signed the cheque. The bank submitted that it had taken up the matter with the payee bank, which advised that cheque was presented in clearing by bank B, for crediting to beneficiary account maintained with them. The bank furnished a scanned copy of disputed cheque, specimen signatures and statement of complainant’s account.

Since, the cheque was given by the complainant for closure of loan account and funds were available in his SB account, the bank was advised to extend interest benefit at the same rate at which interest was being charged in the loan account of the complainant with retrospective effect for 8 months. Regarding the foreclosure charges, based upon documents submitted before the Banking Ombudsman, the complainant was advised to pay 1% of the total loan sanctioned. Under these amendments the scope of the Scheme has been widened to include, inter alia, deficiencies arising out of sale of insurance/ mutual fund/ other third party investment products by banks. A customer would also be able to lodge a complaint against the bank for its non-adherence to RBI instructions with regard to Mobile Banking/ Electronic Banking services in India.

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But an error massage was shown by the machine as ‘;cash present timer expired’;. The EOD report was handwritten and was prepared by an outsourced agency. The bank did not submit the Switch Report, No Excess Cash Certificate and CCTV footage of the disputed transaction even after lapse of more than two months. The bank was therefore directed by BO to pay the disputed amount to the complainant. In case the minimum balance is not restored within a reasonable period, which shall not be less than one month from the date of notice of shortfall, penal charges may be recovered under intimation to the account holder. Banks need not seek fresh proofs of identity and address at the time of periodic updation, from those customers who are categorised as ‘low risk’, in case of no change in status with respect to their identities and addresses.

The Appellate Authority has allowed the appeal preferred by the bank and set aside the Award issued by BO. A complainant, who had availed working capital facility and term loan facility from the bank, complained to the bank that due to fire the stocks were burnt. The https://1investing.in/ insurance company had settled the claim limiting to the stock value of the original credit limit and did not settle it to the enhanced value of stock, though the credit limits were enhanced few times subsequently, since the bank failed to insure the full stock value.

Sequel to this, large amount of money was withdrawn from his account within three days’ time at various places. The complainant also stated that he had not received any SMS alerts with regard to the disputed transactions though his mobile number was provided to the bank at the time of conversion of his single account into a joint account. The complainant alleged that a cheque deposited in the bank was credited to the account after a gap of 4 year.

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This will increase the speed and transparency of processing of complaints at all levels. The Bank will in no way be held responsible for or liable for delay, failure and/or untimely delivery of SMS password and/or SMS Alerts due to but not limited to network congestions, network failure, systems failure or any others reasons beyond the reasonable control of the Bank or its service provider. The validity period of such “Approval in Principle” would be 45 days from the issuance of the letter. Final sanction of the loan application will depend on satisfactory KYC, Income, credit worthiness and documents verification.

• The bank had also not confirmed from the customer before making the cash payment of the cheque.
• On the appeal preferred by the bank, the AA observed that there was no auto renewal mandate given by the customer and the bank had given the SB rate of interest for the overdue period as per the extant guidelines.
• During the year individuals and senior citizens taken together accounted for 93.6% of the complaints.
• The bank’s contention was that fixed interest rate loans were subject to reset of interest rate every 3 years and accordingly, the applicable interest rate of the loan was due for revision.

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Corporate Actions

One person who was watching the whole incidence suggested him to call the bank’s toll free number as his card had been blocked. After few minutes of moving out from ATM kiosk, complainant received a message that amount of ₹ 20,000 was debited from his account. Bank submitted that the ATM transaction was successful but no other document was provided by the bank in support of their response on the matter.

In its response the beneficiary bank stated that the customer had mentioned wrong account number of beneficiary in his request form and hence the bank had effected the credit as per account number furnished in the form. Further the bank also stated to have made efforts to recover the wrongly credited amount. However, as the beneficiary did not deposit any amount in his account, recovery could not be effected in time.

10.8 The government has launched “Jeevan Pramaan”, a digital life certificate based on the Aadhaar biometric authentication, which is aimed at further simplifying the process of submission of life certificates and facilitating accuracy and timeliness in pension disbursals. Agency bank branches will be able to obtain digital information about their pensioner customers through the “Jeevan Pramaan” website and their own CBS framework, or through communication from pensioner customers. Banks have been advised to create adequate awareness about this facility among their pensioner customers and also suitably amend the Frequently Asked Questions on pension payments posted on their websites, and provide a link to the “Jeevan Pramaan” website. 9.10 With proliferation of technology in banking and introduction of various IT based banking services and products, nature of complaints received in OBOs has undergone a major shift. This has highlighted a need to equip OBO staff with requisite skills and knowledge to handle such complaints. 3.2 The complaints pertaining to failure to meet commitments, non-observance of fair practices code, BCSBI Codes constituted the major category of complaints received with 29.2% of complaints received.

Internet Banking

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Delays in credit, non-credit of proceeds to parties accounts, non-payment of deposit or non-observance of the RBI directives, if any, applicable to rate of interest on deposits in savings, current or other account maintained with a bank, etc., were the major reasons for complaints in this category. Complaints pertaining to ATM/Debit card operations comprised 12.5% of total complaints received whereas, 8.8% complaints were pertaining to credit card operations. An account holder dropped three cheques, drawn in his favour, in his bank’s drop box. These cheques, drawn on three different banks, were not encashed even after a lapse of ten days. Upon enquiry, the beneficiary bank informed that the cheques were stolen from the bank. The account holder advised the drawers of the cheques about non-payment.

OBOs handled during the year including 3307 complaints pending at the beginning of the year. Complaints in the category of Pension (6.8%), Levy of charges without prior notice (6.5%), Loans and Advances (5.7%), Deposit Accounts (5.5%), Remittances (3.2%) were other major areas of complaints. 85131 complaints were received by 15 Offices of the Banking Ombudsmen during the year. Aggrieved by the award, the bank preferred an appeal before the Appellate Authority. Bank contended that it was not responsible for loss of money given by complainant to a stranger willingly on its own, trusting him as bank staff. This is clear case of gross negligence on part of the complainant considering the fact that there is a specific counter for deposit of cash.

Loan Policy (Oxyzo)

The penalty imposed by the creditor banker was calculated and a sum of ₹ 5041/-, being the amount of penalty on account of ECS default was credited in the customer’s account. He visited the bank to operate the locker and was shocked to find Frequently Asked Life Insurance Questions the locker empty. He alleged that the bank officials had colluded with his wife allowing her to operate the locker against the joint operation mandate given by him which had resulted in a loss of assets worth ₹ 32 lakh from the locker.

Further, he was not made aware of the procedure in case of online accounts, nor was this specified in the terms and conditions. The issuing bank submitted the electronic journal log showing all transactions as successful. However, it could not produce the CCTV footage of all the disputed transactions to establish the customer’s presence in the ATMs during the time of occurrence of the disputed transactions. The bank was also found deficient in not raising charge back for all the five transactions. It was further observed that 2 of the disputed transactions had taken place at different ATMs of different locations on the same date and time.