Complaints against banks on a high in TN

Complaints against banks on a high in TN

Complaints related to banking received by theBanking Ombudsman,Chennai, has marginally increased by 4.34 per cent from 8,285 in 2014-15 to 8,645 in 2015-16.

It has been officially said that this was the highest among the 15 Banking Ombudsman in the country.

A total of 78 percent of issues pertaining to educational loans provided by banks to individuals were the major complaints received by the Regional Banking Ombudsman, Chennai.

The overall complaints received by the Banking Ombudsman increased to 8,645 during the period 2015-16 from 8,285 registered during same period last year, a PIB release said.

“The total complaints received under Loans and Advances during the period 2015-16 was 1,382 of which 78 per cent were related to educational loans alone,” it said.

Ten major banks accounted for 74 per cent of these complaints.

The disposal period of pending complaints in the Office of the Banking Ombudsman, Chennai, was reduced to one month and no complaint was pending beyond one month.

The Regional Ombudsman Office which covers Tamil Nadu, Puducherry, Andaman and Nicobar Islands received a total of 8,539, 89 and 17 complaints, respectively from these regions.