RBI Ombudsman received more complaints against private banks per branch in FY23: Report

In terms of total complaints, RBI received 16,602 complaints against ICICI Bank.

The Reserve Bank of India (RBI) received 6.52 complaints per branch against RBL Bank between April 1, 2022 and March 31, 2023 through the offices of RBI Ombudsman (ORBIOs), according to the latest annual report. This is the highest number of complaints per branch against any private banks, as per the report.

According to the RBI annual report which was published on March 11, the RBI reported a total of 3,486 complaints against RBL.

RBL Bank had highest complaints per branch among private banks, followed by Kotak Mahindra Bank which has 3.82 complains and IDFC First Bank reported 3.71 complaints per branch.

In terms of total complaints, RBI received 16,602 complaints against ICICI Bank, which is highest complaints for a private bank between April 1, 2022 and March 31, 2023 through the ORBIOs. ICICI Bank is followed by HDFC Bank and Axis Bank at 14,979 and 13,713 complaints respectively.

Most of the complaints in private banks were about credit cards followed by disputes about loans and advances.

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Compared to private banks there were far lower complaints per branch against public sector banks.

According to the report, RBI received 1.61 complaints per branch against the State Bank of India between April 1, 2022 and March 31, 2023 through the ORBIOs. This is the highest number of complaints per branch against any public sector banks, as per the report. It’s followed by Bank of Baroda which has 1.18 and Punjab National Bank reported 1.14 per branch.

Within the Non-bank financial companies (NBFCs), most number of complaints were registered against SBI Cards and Payment Services and Bajaj Finance Limited, which is 9,455 and 2,950 respectively between April 1, 2022 and March 31, 2023 through the ORBIOs.