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.

 

How well do you really know your competitors?

Access the most comprehensive Company Profiles on the market, powered by GlobalData. Save hours of research. Gain competitive edge.

Company Profile – free sample

Thank you!

Your download email will arrive shortly

Not ready to buy yet? Download a free sample

We are confident about the unique quality of our Company Profiles. However, we want you to make the most beneficial decision for your business, so we offer a free sample that you can download by submitting the below form

By GlobalData
Visit our Privacy Policy for more information about our services, how we may use, process and share your personal data, including information of your rights in respect of your personal data and how you can unsubscribe from future marketing communications. Our services are intended for corporate subscribers and you warrant that the email address submitted is your corporate email address.

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