New Student Offer Use Code - HELLO

Join Here

Ombudsman Scheme Report: 68.24% Increase in CRPC and ORBIOs Complaints

Published on March 12, 2024
Current Context: The “Annual Report of the Ombudsman Scheme” by the Reserve Bank of India has revealed a 68.24% increase in complaints received by the Offices of the RBI Ombudsman (ORBIOs) and Centralised Receipt and Processing Centre (CRPC) during FY23, with a total of 7,03,544 complaints compared to 4,18,184 in FY22.
Ombudsman Scheme Report: 68.24% Increase in CRPC and ORBIOs Complaints
  • The majority of these complaints were related to mobile/electronic banking, which were the largest contributor to the total number of complaints received against banks as well as non-bank payment system participants.
  • Complaints relating to non-adherence to the Fair Practices Code were the highest in respect of NBFCs.
  • The complaints disposed of at the ORBIOs had an average turn-around time (TAT) of 33 days during 2022-23, which improved significantly from 44 days during 2021-22.
  • The majority (57.48%) of maintainable complaints disposed of under RB-IOS 2021 were resolved through mutual settlement, conciliation, and mediation.
  • The report also mentioned that the RBI’s Consumer Education and Protection Department will review, consolidate, and update the extant Reserve Bank regulatory guidelines on customer service.

Question:

Q.1 What was the percentage increase in complaints received by the Offices of the RBI Ombudsman (ORBIOs) and Centralised Receipt and Processing Centre (CRPC) during FY23 compared to FY22?
a. 68.24%
b. 44.18%
c. 57.48%
d. 33%
ebook store

About Me

Ramandeep Singh

Ramandeep Singh - Educator

I'm Ramandeep Singh, your guide to banking and insurance exams. With 14 years of experience and over 5000 successful selections, I understand the path to success firsthand, having transitioned from Dena Bank and SBI. I'm passionate about helping you achieve your banking and insurance dreams.

  • Follow me:
Close Menu
Close Menu