Complaints on digital transactions rising | Fusion - WeRIndia

Complaints on digital transactions rising

Complaints on digital transactions rising

As digital transactions in the country are rising, so are the number of complaints. This is revealed by the Reserve Bank of India report on the number of complaints it received.

In total complaints, 28 per cent are digital complaints in 2017-18.

The Reserve Bank of India published the latest data on the basis of complaints. The list showed that the largest share of complaints was filed on the issue of banks not adhering to the ‘fair practice code’. This accounted for 22 per cent total complaints.

And the second largest was on ATM and debit card related issues which contributed to more than 15 per cent of total complaints.

As per the list, the complaints related to ATM and debit card witnessed a huge rise of up to 50 per cent.

Both credit card related complaints and online banking issues accounted for about 7.7 per cent and 5.2 per cent respectively.

The Annual Report of RBI showed that about 8487 complaints were filed by the internet and mobile banking consumers in 2017-18.

The report showed only complaints related to the same period and no previous numbers were available on the list.

The report said that 24,672 complaints were filed on issues related to debit card and ATMs and 12,647 complaints were filed on issues related to credit card.

The main complaint in debit card issues is related to the ATM failed transaction issue. Out of total complaints, 60 per cent of complaints were under ‘Account debited but cash not dispensed by ATMs’ sub-category.

Whereas in credit card issues, wrong billing and delayed reporting are the major issues.

Looking at the figures in the previous year, the complaints on digital transactions were 18.9 per cent. This indicated a 9 per cent increase in the number of complaints in this category over the last year.

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