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January 9, 2014

3,763 complaints against banks on credit card charges received by Indian government in first half of fiscal year

The Indian banking ombudsman received 3,763 complaints against banks with respect to credit card charges in the first half of the last fiscal year.

By Angelo Boccato

The Indian banking ombudsman received 3,763 complaints against banks with respect to credit card charges in the first half of the last fiscal year.

 

The Indian minister of state for finance, Namo Narain Meena, informed parliament that the government had received 3,763 complaints against banks concerning credit card charges as of 1 July in the last fiscal year.

 

The government received complaints against banks and financial institutions for their inefficient services and practices related to credit cards such as undue penal charges, issue of unsolicited cards and harassing telephone calls.

 

In a written statement to the Lok Sabha, the lower house of the Indian parliament, Meena said: "Complaints of non-adherence by banks to the instructions of Reserve Bank of India on ATM/debit card or credit card operations are considered under the Reserve Bank of India’s banking ombudsman scheme."

 

In the fiscal year 2012 to 2013, a total of 7,744 complaints concerning credit cards were received.

 

In the fiscal year 2011 to 1012, 5,146 such complaints were received.

 

 

Related articles:

ING Vysya Bank, MasterCard unveil UEFA Champions League branded debit cards

Indian Overseas Bank releases card aimed at encouraging young people to shop online

Indians opted gift cards, coupons for transactions during 2013 festive season

 

 

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