The number of complaints received by the banking ombudsman offices has constantly increased, with more than a three-fold increase in 2005-06 from the previous year after the Banking Ombudsman Scheme 2006 was notified.
The increase was also observed in the year 2006-07 with a 22 per cent rise over the year 2005-06, said the Reserve Bank of India's annual report on banking ombudsman.
In 2006-2007, SBI Cards topped the list of complaints from credit card-holders, with the banking ombudsman receiving 2,654 complaints against it. There were 1,451 complaints against ICICI Bank.
In 2005-06, the ombudsman offices received 31,732 banking-related complaints. In 2006-07, the number of complaints received was 38,638. So what is the Banking Ombudsman Scheme?
Image: Roopam Asthana, CEO of State Bank of India's Cards and Payment Services, during the launch of SBI credit cards in New Delhi. | Photograph: Manpreet Romana/AFP/Getty Images
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