Introduction
Like as a customer, if you have got any complaint against your bank, the primary step is to contact the bank itself and register a complaint. However, if you are not contented along with your bank’s reply, then you will be ready to advance the banking ombudsman together with your complaint. The Reserve Bank of India has instituted a complaint management system on its website. Through this portal, you’ll be able to file complaints against all financial service providers like banks and non-banking financial companies (NBFCs), which are regulated by the financial institution. With the introduction of CMS, to handle the complaints received within the offices of Ombudsman and Consumer Education and Protection Cells (CEPCs) of the depository financial institution has been digitalized.
To Lodge complaint against the Bank
Report your complaint to the banking ombudsman.
If you have got any complaint against your bank, the primary step is to approach the bank itself and lodge a complaint. Grievances like unauthorized electronic transactions, mis-spelling of insurance and investment company products, issues associated with loans and deposits, and mobile banking transactions are often raised at your bank. However, if you are not contented along with your bank’s reply, then you will be ready to advance the banking ombudsman together with your complaint.
You can also approach the ombudsman if your bank doesn’t reply to your complaint within a month. The ombudsman won’t consider your complaint if you have not reached out to the bank first, or if you approach the ombudsman after over a year from the date on which the bank replied to you.
Moreover, if your complaint is pending with the other court sort of a consumer court, then too, the banking ombudsman won’t consider your complaint.
Filing a Complaint
The banking ombudsman is appointed by the RBI to resolve customers’ complaints regarding banking services and doesn’t charge a fee.
File a complaint to the ombudsman under whose jurisdiction the bank branch complained against is set. Complaints concerning services with centralized activities, like credit cards, complaints are also filed before the banking ombudsman within whose territorial jurisdiction your billing address is situated.
You can also file the complaint online. You’ll submit details of the bank and also the branch you have got complained against still because of the category under which you’re filing the complaint.
You will also share your name, telephone number, and address while filing the complaint. the number of cash involved, if any, may also be mentioned within the complaint itself. Complaints can be filed by writing an e-mail to the ombudsman on their respective e-mail IDs.
However, this can be not a purely online redressal system. Depending upon the complexity of the case, you would possibly be contacted by the ombudsman office on the phone. You may even be required to present your case head to head. In cases that don’t involve complexities, the ombudsman could make the award supported the written submissions from the complaint itself.
While making a specific complaint to the ombudsman, be prepared with all the main points, including proof of your communication from the bank regarding the identical complaint. The ombudsman has the ability to award you for loss suffered and mental agony and harassment.
Once your complaint has been lodged, the ombudsman first attempts a settlement between you and also the bank. If the complaint isn’t settled within a month, the ombudsman then allows the complainant and therefore the bank to present their case and makes a bequest.
Both the complaining consumer moreover because the bank has a choice to appeal to the appellate authority under the ombudsman scheme. This must be done within 30 days after the ombudsman has selected a selected case. Moreover, the choice to approach other courts just like the consumer court also remains open.
Although this move aims to resolve customer complaints faster, the complaint filing process itself is tedious and one that needs plenty of data to be filled in.
For instance, you have got to relinquish complete details of the bank or the person you’re complaining about like name, address, mobile number, and so on. Also, throughout the method, most of the time, you’ll see a predefined drop-down list from where you may need to select the desired option.
Steps to file a grievance on RBI’s complaint management system
1. To file a complaint, you wish to go to https://cms.rbi.org.in. After that, click on File a complaint link. CMS is accessible on desktop and there’s an app further that you just can use.
2. Choose the language from the dropdown then ‘File a complaint with ombudsman against an eligible regulated entity’. From the dropdown list, select the kind of entity – Bank, NBFC, or system participant.
3. Now, enter the final details on the ‘lodge complaint portal’. Finally, click on the calendar and fill within the ‘date of complaint’ and ‘date of reply’ field.
4. The complaint is going to be directed to the acceptable Office of the Ombudsman/Regional Office of the RBI.
5. Complainant details: Here you would like to enter your complete details (for example your name, gender, age, telephone number, address, etc.) and also the style of complaint you would like to create (For instance, is that the complaint regarding e-wallet, transaction issue, etc.). Once you complete the method, ‘click on next’.
6. Banks details: Choose the account category from the dropdown list. Enter the applicable checking account details, ATM/credit/debit card details. Enter the disputed amount, compensation amount involved and subsequently, in ‘complaint comments section’ mention details of the bank/person against which you wish to complain. Once you complete the method, ‘click on next’.
7. Declaration: Read the declaration details carefully. Then, accept it by clicking on the toggle and click on next.
8. Nomination: the main points of someone against whom the complainant had filed the grievance: Select the radio button and click on next. Enter the whole applicable nomination details. Click on next and proceed.
9. Upload the complaint related details, if any. Lastly, by clicking on the submit button, your complaint will be filed successfully.
The application will keep the complainants updated through auto-generated responses, allowing them to trace the status of their complaints and file appeals online against the selections of the Ombudsmen, where applicable, as per the RBI website.
This Article is Authored by ERICA ROSELINE TOPPO, 2nd Year BA.LL.B Student at Fairfield Institute of Management & Technology, Guru Gobind Singh Indraprastha University.
Also Read – How to lodge a complaint against your bank?
