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2019-07-17

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Indian Economy
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Ministry of Finance

CMS to File Online Complaint Against Banks and NBFCS

Posted On: 16 JUL 2019 6:19PM by PIB Delhi

Reserve Bank of India (RBI) has informed that the Complaint Management System (CMS) was launched on June 24, 2019. The total number of complaints received against banks and NBFCs as on July 05, 2019 are given below:-

 

Complaints received against

Grand Total

Banks

10,249

NBFCs

133

Total

10,382

 

CMS is an application for filing of complaints with RBI against any of the regulated entities. The complaints falling under the grounds of complaints of the Banking Ombudsman (BO) Scheme, 2006 and Ombudsman Scheme for NBFCs, 2018 are resolved as per the provisions of Schemes.

Clause 7(2) of the BO Scheme reads as ‘The Banking Ombudsman shall receive and consider complaints relating to the deficiencies in banking or other services filed on the grounds mentioned in clause 8 irrespective of the pecuniary value of the deficiency in service complained and facilitate their satisfaction or settlement by agreement or through conciliation and mediation between the bank concerned and the aggrieved parties or by passing an Award as per the provisions of the Scheme.’

Clause 7(2) of the Ombudsman Scheme for NBFC reads as ‘The Ombudsman shall receive and consider complaints relating to the deficiencies in services filed on any one or more of the grounds mentioned in Clause 8 and facilitate their satisfaction or settlement by agreement or through conciliation and mediation between the non-banking financial company concerned and the aggrieved party or by passing an Award in accordance with the provisions of the Scheme.’

At present there is no IVR system to track the status of complaints.

This was stated by Shri Anurag Singh Thakur, Minister of State for Finance & Corporate Affairs in a written reply to a question in Lok Sabha today.

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