How to file a complaint against Company?
- Go to "File a Complaint" page
- Choose Company and write your complaint in detail
- Enter your personal information to create an account
- Get refund / replacement / damages from Company
A bank refers to a financial institution that accepts deposits and creates credit. Banks are of utmost importance to the economy and are a safe place to deposit excess cash.
The Indian Banking sector is ranked 6th across the globe. With many private sector and public sector banks thriving in India, the banking industry is congruously capitalised and well-regulated by the Reserve Bank of India. The stats on market, credit and liquidity bespeak the handy preparedness to sustain any global crisis.
India is presently home to 34 banks out of which 22 are private sector banks, and 12 are public-owned banks. Multiple other Foreign Private Sector Banks are operating as part of the Indian banking sector as well. Let us take a look at the Top 5 Famous Banks in India.
Famous Banks in India
1. State Bank of India: SBI is the oldest and also the largest bank functioning in India and has been a Fortune 500 company for 14 long years. Post-Independence, the State Bank of India got enacted on 1st July 1955. It has its headquarters located in Mumbai, the financial capital of the country.
The bank has 57 Zonal centres and 14 Local centres with 85,356 branches and 59,291 ATMs pan India. SBI has a market cap of INR 2,93,218.11 crores with a market share of 23% with its presence in 36+ countries. It has been recognised as the Best Transaction Bank & Best Payment Bank in India.
Total Assets – INR 30 lakh crores
Revenue – INR 3.68 lakh crores
Number of employees – 2,64,041
2. HDFC Bank: The bank is well known for receiving first 'in principle' consent from the Reserve Bank of India (RBI) which authorised it to set up a bank in the private sector. It was founded in August 1994 given the liberalisation that took place in the Indian Banking Industry.
The bank started its operations as a Commercial Bank from January 1995. With its headquarters in Mumbai, The Housing Development Finance Corporation Limited (HDFC) functions across 2,768 towns and cities with 5,314 branches and 13,610 ATMs in India. It has a market cap of Rs.6,25,666 crores as of 2019.
Total Assets – INR 11.89 lakh crores
Revenue – INR 1.17 lakh crores
Number of employees – 98,061
3. ICICI (Industrial Credit and Investment Corporation of India) Bank Private Limited: It occupies the second place when it comes to volume of assets operated by the bank. The bank is the second largest in terms of market cap and total assets, making it the leading private sector bank in India.
ICICI was formed in 1994 with the principal aim to offer medium-term and long-term project funding to Indian businesses. The bank has its headquarters in Mumbai with its registered office in Vadodara, Gujarat. It currently has its footprint across India with 5,275 branches and 15,589 ATMs along with its presence in 16 countries outside India.
Total Assets – Rs. 13.77 trillion
Revenue – INR 1.49 lakh crores
Total employees – 82,724
4. Punjab National Bank: The Punjab National Bank, PNB is the third-largest bank functioning in India. The bank serves more than 80 million customers with 7000 branches and 10,681 ATMs, expanding its footprint to 764 cities. It currently operates from its head office located in New Delhi.
Founded in 1894 from Lahore, the bank has served eminent freedom fighters of India. It later got nationalised in July 1969. As one of the oldest banks in the country, it has a market cap of Rs. 37,411 crores as in 2019. PNB recently bagged the prestigious IBA Banking Technology Awards.
Total Assets – INR 6 lakh crores
Revenue – INR 80,512 crores
Total employees – 70,801
5. Bank of Baroda: Bank of Baroda has now become the third-largest lender of the country after it merged with Vijaya Bank and Dena Bank into a single entity. It carries a pride of 127 million customers across 21 countries and growing bigger and better day by day.
The bank operates from its main office in Vadodara and has 9,500 branches and 13,400 ATMs across India. Founded in July 1908, it has a market cap of more than 35,000 crores currently.
Total Assets – INR 11.5 trillion
Revenue – INR 91,000 crores
Total employees – 48,807
Top Banking Complaints in India
According to a recent survey by Times of India, every hour 11 people complain against their bank. The most commonly reported banking complaints in India by consumers include bad customer service, checks/funds bouncing, extra charges levied, debit/credit card blocked etc.
Almost 30% to 37% of bank complaints occur due to the bank's failure to fulfill commitments and lack of fair practices. Banks reporting fraud or complaints have been on the rise more than ever before. What's more disturbing is the account holders face never-ending issues even after being connected with the banks for a long time.
Around half a million people have reported filing complaints in the last five years. From high interests to willful delay in processing payments (leading to penalties), and lack of fair practices to denial of closing accounts, banking customers are having a tough time continuing with the financial hassle.
The numbers of banking complaints see a double-digit rise in the past few years. The financial period of 2018-19 witnessed a surge of 20% in the complaints against banks. Non-adherence to fair practices saw the most number of complaints followed by issues related to pension, levy of charges, and debit and credit card issues.
1. Hidden fees
Customers feel cheated about the excessive fees and hidden charges by the banks. Most often, customers are not aware how they can choose to stay out of overdraft protection. Reaching out to their bank is always a good idea to have a clear picture of fees and extra charges.
2. Bad customer support
This is something which every customer is concerned about. Even if the customers manage to reach out to the customer service, they don't see any credible solution. It gets quite worse when the bank employees are unable to resolve your issue. Being heckled from person to person, and being asked to wait at every desk test the best of temper.
The only solution you have is to stay calm and wait for the response from the bank to get the issue resolved.
3.Beneficiary does not get the money
This is one of the most common issues faced by banking customers. The amount gets deducted from their account, and it is shown that the transaction is successful, but it doesn’t get credited into the beneficiary’s account. EMI payers mainly lodged such complaints that the EMI would get deducted from their account but would not be credited to the beneficiary.
4. Fraudulent transaction
According to the Economic Times, there is a rise of 74% in banking frauds. Digital transactions via net banking and UPI are preferred over cash for a contactless mode of payment. But with an increase in online payments, there has been a rise in fraud cases.
Many customers complain that the money from their account has been deducted for things they have not purchased. Banks take a lot of time in addressing such complaints, and usually, customers get frustrated with the process.
5. Transaction failure
Transaction failures are very frustrating and embarrassing. When consumers are out, and they haven’t carried the cash, they will pay via net banking or UPI or ATM, but sometimes bank servers would go down suddenly, and the transaction would fail, or in some cases, the amount would get deducted, and the transaction would fail which can be misleading for both payer and recipient.
How to resolve Banking complaints?
1. First and foremost step should be contacting the bank’s customer care itself as they genuinely care about the customer satisfaction and would be willing to resolve the consumer complaints. Here are customer care number of some of top banks in India :
State bank of India (SBI) Customer Care - 1800 425 3800
Union Bank of India (UBI) Customer Care - 1800 22 2244
Allahabad Bank Customer Care - 1800 57 22 000
Bank of Baroda Customer Care - 1800 102 4455
UCO Bank Customer Care - 1800 274 0123
Bank of Maharashtra Customer Care - 18002334526
Bank of India (BOI) Customer Care - 1800 22 0229
Central Bank of India (CBI) Customer Care - 1800 22 1911
HDFC Bank Card Customer Care - 1800 266 4332
ICICI Bank Customer Care - 1800 200 3344
Punjab National Bank (PNB) Customer Care - 1800 180 2222
Axis Bank Customer Care - 1860 419 5555
2. Apart from calling customer care numbers, a customer can visit the bank and meet the officials or complain at the grievance cell to sort out the issue. However, you should try submitting your complaint to the bank in writing, to keep a record of your complaint. Also, some banks have an option of filing a complaint at their website also.
3. However if the bank is unwilling to address the issue then you can approach the Banking Ombudsman. A banking ombudsman is a senior official appointed by the Reserve Bank of India (RBI) to resolve consumer complaints against deficiency in the banking services. So far there are a total number of 15 Bank Ombudsman whose number can be found on the official RBI website.
The consumer has to file a complaint at the ombudsman under whose jurisdiction the bank branch is located. All the consumer has to do is write it down on paper, or send a complaint via email. There are no charges for filing a complaint. However if you are not satisfied with the settlement offered by the ombudsman, you can file an appeal before the appellate authority within 30 days.
4. Send Legal Notice:
A Consumer can send legal notices to the Bank in case it is unable to resolve his complaint. It is one of the efficient ways to handle consumer complaints legally. Check below to know how to send a legal notice to a Bank?
Step 1: Firstly, get a legal notice drafted by a lawyer.
Step 2: Check it properly and make sure it is signed by a lawyer.
Step 3: Keep a copy of it for future purposes.
Step 4: Send the legal notice to the Bank by registered post.
Step 5: Keep the slip or delivery report for evidence.
5. File consumer forum case:
Consumer forum deals with consumer complaints and you should approach the consumer forum if you feel that your rights as a consumer have been violated.
If your Bank is not responding to your complaint even after sending legal notice by a lawyer then you should file a case against it in a consumer court.
Here is how you can file a case against the Bank in the consumer court?
Step 1: Intimate the aggrieved party via legal notice.
Step 2: Draft the consumer complaint
Step 3: Attach all the relevant documents and proofs to support your complaint.
Step 4: Select the appropriate court for filing the complaint.
Step 5: Pay the prescribed court fee that is required to be paid along with the complaint.
Step 6: Submit the case along with the affidavit & fees in the court.
There are strong chances of nothing being done against your complaint if you're not serious about it. So, if you are still left stranded with nowhere else to go then you can always file a consumer complaint at Voxya. We at Voxya, generally receive around thousands of Banking complaints in a month.
So how do we actually resolve these Banking complaints? We start a social media campaign and then send an email to the Banks to resolve the complaint amicably. Moreover if strict actions need to be taken then we draft a legal notice and send it to the concerned Bank.
Jun 23, 2021 by ONKAR NATH PANDEY
This all started when I wanted a loan top-up from my current loan and I applied for it on Kotak bank. My loan was rejected due to several cheque bounces in the last ** months. I started checking all the statements and found the issue and des...
Jun 22, 2021 by Sai Krishna
I got a QR code to scan from a fraud who conveyed that he is from Indian Army. On scaning the QR, my paytm application opened, and a transaction of **rs was recieved from him. He asked me to send * rs twice for some verification. A momenr after...
Jun 21, 2021 by Samarth Arora
Bajaj finserve emplyee approach by phone *******, loan for *.** per annual, but I am decided to take ******, they proceed but they gave loan ****** less ****, and also they avtivate health insurance and loan secured insurance without my permiss...
Jun 20, 2021 by Sandeep h c
My investments in Sahara Q Shop in two certificates were not refunded by the company on maturity but managed to convince me to go for transferring the amount to MIS of M/s Humara India Cooperative Society Ltd. My Certificate no. are ***********...
Jun 16, 2021 by RUMA DAS
I have taken education loan from zest money for upgrad.com course which ******rs and apart from that i have paid same amount to upgrad.com directly after dec **** uprad.com change the course pattern and given false statement that i have request...
Jun 15, 2021 by Sachin Kadam
Hello, This is complaint against my dhani loan account No. IDHADEL******** Where as per account statement sent by you (attached below) on *th march **** EMI processed showing bounced but as per my bank account statement no EMI was proc...
Jun 14, 2021 by Deepak Makker
I used Wazirx P*P platform to sell my USDT on **th-**th and **st of May ****, i opened trade and few buyers placed orders. To my disappointment some of them did not pay for it , and marked the transaction as paid, since i did not get money in m...
Jun 11, 2021 by KUMAR GAURAV SINGH
I tried to buy usdt through p*p on wazirx but when I did payment of ****.** rs seller didn't confirm my payment within *hrs due to this my payment is blocked in dispute. I tried at wazirx support many times but no one is responding regarding th...
Jun 10, 2021 by Anshul Jain
My name is Faisal Nazir bhat I have deposited ***** rs on *st june in wazirx app but the amount didn't get credited in my wazirx app and they haven't refunded it till now iy account and their customer care says we can't help you to get your mon...
Jun 09, 2021 by Faisal Bhat
In **** i and my brother have made Fixed deposits in adarsh credit cooperative society for my future purposes but as of now adarsh is not refunding my fixed deposits back...
Jun 07, 2021 by Vikash bansal
I ordered from myntra on *th of april through net banking of rs ***** , but I cancelled the order on the same day. I saw I didn’t get refund yet after month. Then i called to myntra helpline they gave me reference no and told me to contact yo...
Jun 06, 2021 by Simran
On **rd MAY i have deposited **** rs using standard bank transfer, money debited from my account but still not credited. On june * **** they rejected saying bank has declined this transaction but when i mailed the bank they say amount is al...
Jun 06, 2021 by Jecky Rana
I have added amount from my UPI id using Mobikwick, however even after the transaction got completed the amount was not reflecting in my wallet . its been * days now !!!! Due to vague UI of Wazir complaint section, i am unable to raise req for ...
May 31, 2021 by Kunal Suryavanshi
I have deposited **** rupees in wazirx wallet from mobikwik ,but it is not credited in my wazirx wallet nor refunded to my account ...
May 30, 2021 by Naim Ahmed
Date of transaction : *st May **** amount : **,***.**$ (**,**,*** inr) my PayPal Inc express checkout account was suspend due to high risk of disputes due to delay in shipping period (dropshipping) and was suspended permanently for *** days a...
May 30, 2021 by Rehana Farid Shaikh
Hdfc credit card charged a processing fee of **% (***) plus Gst on an emi conversion of Rs **** and disguised the charges under a separate t&c link that probability had **** words terms... Unlike other bank they hid the pf in t&c and upon compl...
May 28, 2021 by Jatin Kumar Karan
Hi sir my name is akhilesh mishra on ** st of may **** i have done a ***** rs transfer to one Hdfc account which was given in my Coindcx wallet and today is * th day i have not got any support not even in telegram kindly help me . ...
May 28, 2021 by Akhilesh mishra
I've paid whole amount of loan as one of their customer executive said but after that their executive reneged from her promise. Actually i had taken * loan from Mpokket in around **** December and failed to repay , due to Corona and Financial...
May 27, 2021 by Saurabh Pardeshi
have deposited Rs.**** on ** may**** and also diposited two transactions on of **** and other one ****- in my wazir x wallet through mobikwik wallet money was debit from mobikwik wallet but still i have not received money in my wallet nor m...
May 27, 2021 by Jitenderpal singh
I lost my authenticator codes for * factor authentication to login to WazirX. Since I didnt have the recovery codes I raised a ticket as suggested in their support page https://support.wazirx.com/hc/en-us/articles/************-Two-Factor-Authen...
Jun 02, 2021 by Santosh Pallav Sahu
The Amount Had Been Withdrawed But According To Company Process It Will Refelect Within ** Hr .But Its Been * days The Amount Had Not Been Processed.Whenever i Sent A Enquiry Email They Are Just Give The A Same Copy Paste Answer. Their Enquirie...
May 30, 2021 by Eldhobasil parackal
Hi , I've made a deposit of *.* lakh using imps. **-**-**** MOBILE BANKING MMT/IMPS/***********/*****/NEBLIOTEC/HDFC******* *,**,***.** It's been * days still i haven't got any reply from them. I raised a ticket and mailed them ** tim...
May 25, 2021 by Manish Reddy
Wazir X listed shiba inu coin price at way above the capability of token to be listed upon, making matters worse . They should be initiating funds of the traders who lost money because of their mistake. its simple you make the mistake and you p...
May 17, 2021 by Abhishek Kumar
I saw an ad on olx of an old iphone X with a small crack at the top end. The seller was named Sabir and he seemed legit and he showed me the bill and pictures and videos of phone. He agreed to me that I pay half now and half after I get the cou...
May 17, 2021 by Geswin Babu
WazirX lauched a coin SHIBA INU. The lauched price of coin was much Higher(*.* Rs/Coin) than its actual price which was never Its Price Till Date. I ordered the coin at *.* Rs Per Coin Of Worth Rs ****** and @*.*rs Per Coin Worth Rs ******. ...
May 15, 2021 by ADITYA
# I have added ****/- first to the account on *th May **** which is not showing in the wazirx account and after that I have added ***/- it has reverted back to my bank account after **hours but the first transaction which I have made is succe...
May 15, 2021 by Santhoshi
I was depositing *** USDT from my trust wallet account to wazirx wallet. I wasnt aware of the token being of a different network type in wazirx (erc **) and trust wallet doesnt ask for a network type before transferring. I raised a ticket (* Ma...
May 15, 2021 by Nikhil Deepak Acquilla
bought Rs ****** worth of Shib coins at *.* rs. The coin was never at that price. Wazir then gave me ***** rs. Which I again put in the market at a price of *.**. which again was never the price. The highest the price of the token was on the da...
May 15, 2021 by Brendon Edmonds
I tried to recharge my mobile though Pasfar Technology, which failed. I request you to refund my amount of Rs.***. The bank details are as following, (Evidence) Dear Customer, Your account no ending with ****** is debited with INR ***.** ...
May 05, 2021 by Nitin Nerlekar
Sumit jagtap runs an advisory named money makes money. First time i took advisory by paying *k per month in **** and suffered loss. This year *nd time i paid **k per month and *rd time paid **k per month and suffered loss. None of his shared ti...
May 05, 2021 by Vivek Waman Masalkhamb
I have a savings bank account with ICICI Bank, Kolkata, Burrabazar Branch with account number ************. I have invested in fixed deposit in bank as per deposit advise (FD Number ************) to be matured on ** Apr **** without auto renewa...
May 02, 2021 by Gaurav Barman
Deposited amont(*****rs) in zebpay account. But due to some reasons they told me they are refund. And not it's has been more than * days, still I didn't receive my money....
Apr 24, 2021 by Ritesh Hemant Deo
I did a wallet to bank transfer but still it's not credited ...
Apr 24, 2021 by Akshay Sreenivasan
I transferred Rs **,*** through IMPS from my registered account at Zebpay to their CBI account on April *th ****. Till now, the money is not reflecting in my Zebpay wallet. I have raised a complaint with them, and they asked me for details and ...
Apr 20, 2021 by Victor Eveleens
I had invested total of **,*** in zebpay account one time ***** and another time *****. It has been more than * days the amount is not reflecting in my zebpay wallet. I tried reaching the company people in all possible ways. There is no respons...
Apr 19, 2021 by Sai Manohar B
I had around **** INR in my wallet. i am not even able to login to the app. the customer care number doesnt work. my money is stuck i dont know what to do ...
Apr 16, 2021 by Amit Vishnani
Deduct my Rs.****/- in my personal bank account whithout my permission...
Apr 09, 2021 by Nilesh Changdev Natkar
I have been receiving calls and reminders to pay ₹*** to Mobikwik, they are saying some loan amount is overdue - the last transaction I had through Mobikwik was in June **** and it was a successful transaction.. Now suddenly I have this me...
Apr 09, 2021 by Derrick DSouza
How to file a complaint against Company?