Chennai: Chennai Ombudsman had achieved a 99.7% disposal rate on complaints of non-banking financial companies which is much higher than national average of 99.1%, showed data from RBI report.

According to Reserve Bank of India’s (RBI) annual report of the “Ombudsman Schemes of RBI for the year 2018-19, Chennai holds second spot in complaints received against non-banking financial companies (NBFCs), and records a jump of 709% with 1,124 complaints in 2018-19, however, it has seen better disposal rate of compliants.

Likewise, on complaints received on banks, Chennai has recorded a higher disposal rate at 97.98%, as against the national average of 94%. The report states complaints on ‘mis-selling’ has significantly gone up by 92.6% from 579 complaints in 2017-18 to 1,115 in 2018-19.

The complaints received at OBOs rose by 32,311 taking the total to 1,95,901 complaints in 2018-19 over the previous year (1,63,590), recording a year on year increase of 19.8%.

Of these, 72.2% were received electronically that is, through the online portal and by emails as against 63.6% in the previous year. The report said, the reduction in disposal rate — from 96.46% in 2017-18 to 94.03% in 2018-19 — is largely due to rise in volume of complaints with resource remaining the same. And the total number of complaints received by four (metro) offices of NBFC-Os gone up to 3,991 from 675 in the last year, with New Delhi topping the list.

Non-observance of fair practices code accounted for maximum number of complaints. However, its percentage share came down from 22.1% in 2017-18 to 19.2% in 2018-19.

Complaints on ATM and debit card issues increased from 15.1% in 2017-18 to 18.7% in 2018-19.

While, complaints received on grounds relating to pension, levy of charges without notice, credit card related issues and remittance have declined compared to last year.

The average cost of handling a complaint came down from Rs 3,504 in 2017-18 to Rs 3,145 in 2018-19.

Published On : 18-12-2019

Source : Times of India