RBI is the regulator of the banking and financial services sector in India. RBI is authorized to investigate allegations of unfair trade practices, deficiency in banking services and deficiency in service with respect to loans and advances, including those related to bank charges and other service charges levied by banks on customers. If you want to file a rbi complaint against bank, here are some steps that will help you get started:

The Reserve Bank of India has established a Banking Ombudsman to handle client complaints regarding unsatisfactory bank services. The Banking Ombudsman Scheme is a fast and cost-effective method for resolving complaints about specific bank services.

What are the grounds of complaints?

The Banking Ombudsman can receive and consider any complaint relating to some of the following deficiency in banking services:

Non-adherence to the fair practices code as adopted by the bank;
Non-adherence to the provisions of the Code of Bank’s Commitments to Customers issued by Banking Codes and Standards Board of India and as adopted by the bank ;
Non-observance of Reserve Bank guidelines on engagement of recovery agents by banks;
When can one file a complaint?

The Banking Ombudsman may accept consumer complaints about a specific financial institution. If the reply from the bank is not received within one month after the bank has received one’s complaint, or if the complaint is rejected, or if the complainant is dissatisfied with the response given by the bank, then it may be filed.

What is the procedure for filing the complaint before the Banking Ombudsman?

A complaint may be filed with the Banking Ombudsman by simply writing on a plain piece of paper. It is also possible to file it online or by emailing the Banking Ombudsman.

Is there a fee associated with lodging complaints with the Banking Ombudsman?

No. The Banking Ombudsman does not charge any fees for filing and resolving consumer complaints.

Can compensation be claimed for mental agony and harassment?

The Banking Ombudsman may give up to Rs 1 lakh (Rs 100,000) in compensation to the complainant for mental anguish and harassment. The Banking Ombudsman will consider the complainant’s time and expenses, as well as harassment and mental anguish, in establishing such a compensation.

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