Banking Complaints
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. Unexpected charges by bank remains a major issues for consumers from Bangalore, Pune, Mumbai to Patna. 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 in all the major cities in India like Mumbai, Bangalore, Pune, New Delhi and Kolkata. 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.
Most Common Issue Reported for Banking Complaints
Complaints
Amount deducted but not showing (Lazypay) Open
I have paid my total due amount but it's not showing up, please help asap....
Mar 04, 2022 by Priyam Sinha
Harrased by recovery agent (Bhanix Finance And Investment Limited) Open
Dear sir, I have taken loan from Cashe application which is under in bhanix finance and investment limited for rs *****/- and I have already paid my * emi on time but due to job loss I am unable to pay the emi and I have already approach to c...
Mar 04, 2022 by Prasanna Shitole
Mpocket fraud (Mpocket App) Open
I have taken loan of some amount and lost my phone and number after that...i m a student and unable to pay loan that time now they send me legal notice of **k settlement ...
Mar 04, 2022 by Nikita kumari
Harrased by recovery email (Akara capital) Open
Dear Sir, I have taken loan from Stashfin credit line which is under Akara Capital finance private limited NBFC for rs *****/- and I have paid the emi regular basis but due to job loss and financial issues I am unable to pay the emi and I hav...
Mar 04, 2022 by Prasanna Shitole
Harassing threatening to social personal life (Lazy Pay) Open
Lazy pay has threatening me for leaking my personal details & sharing with the friends & relatives on what's app.Lazy pay company's behaviour is like they are asking for ransom otherwise we will share all details with your friends & family in w...
Mar 01, 2022 by NITIN CHOUBEY
Harrased by recovery agent (Home Credit India Finance Pvt Ltd Consumer Durable ) Open
Dear sir, I have taken loan from home credit india finance private limited and i have paid my * emi rs ****/- on time but due to job loss amd bad financial conditions I am unable to pay my emi from feb **** and i have already approach to home...
Feb 27, 2022 by Prasanna Shitole
Refund not credited (Indiabulls Dhani Loan) Open
Hi this is Ashok Lanke and my registered dhani mobile number is: **********. my registered dhani mail id is: lankeashok****@gmail.com Registered name in dhani is:. Ashok Lanke on **-**-**** i am trying to pay emi of ****/- from phonepay...
Feb 27, 2022 by Ashok Narayana Lanke
Loan frud (Orenge loan app) Open
I have been scammed by this loan app. I uploaded all my documents to obtain loan from orange loan app. I never received any notification for loan disbursal but all of sudden the app stared showing Due amount and it was also mentioned that if I ...
Feb 27, 2022 by Samir Panda
Dhani loan is not cleared (Dhani) Open
Dhani one freedom card loan is going on and i have closed my account and there was no due even i asked thier customer support they said everything is clear but still IVL Finance limited ***₹ loan is still pending please help ...
Feb 25, 2022 by Mohd Shahid Raza
Refund money they not paid charged over interest (Lazypay) Open
Dear sir, This is Ravi Teja S, i am a Lazypay customer and i have ***** credit limit in lazypay , on Feb * nd i have done rent payment through Paytm and FreeCharge those are not accepting lazypay card, that time those transactions are failed ...
Feb 22, 2022 by S RAVI TEJA
CREDIT CARD FRAUD (Nobroker Technologies ) Open
A fraud transaction was done from my credit card to nobroker technologies of Rs *****. I never ever deal with nobroker technologies, they done unauthorized transaction with my sbi card ending **** On **/**/**** at *:**pm. I didn't given any...
Feb 22, 2022 by RAHUL
Emi jayda vasuli karney ke sambandh me (Dhani freedom card) Open
PRARTHI NE DAHNI FREEDOM CARD BANWAYA THA PRARTHI NE ***** RS KI FULL PAYMENT KAR DI JO KI **** RS KI PAYMENT THI USSMEY PATTA NAHI KAISEY BYAJ LAGAYA THA ***** RS KI PAYMENT KARA LI OR AAB VAH ***** RS KI PAYMENT KAH RAHEY HAI PHONE PAR OR PRA...
Feb 20, 2022 by UMAKANTDUBEY
Refund not received (Lazypay) Open
Very bad service..for payment and refunds.. please refund my money soon.. i want to close my account in lazypay...
Feb 18, 2022 by Ankush Goyal
Khushboo kumari (Punjab Nation Bank) Open
Sir I have taken education loan account no ******JB******** shashank kumar of Rs ******.** from PNB sahar, bhojpur under bihar student credit card on **.**.****. But bank has charged interest by compoundly after * months of account open . My co...
Feb 17, 2022 by Shashank kumar
Amount of FD not paid after maturity (Saharayn Universal Multipurpose Society Ltd) Open
A representative of the above firm Mr Sanjay Kumar Gupta approached me with a plea to help Sahara Parivar by investing in fixed deposit. Four fixed deposits of ******, ******, ****** and ***** were made on **/**/**** and **/*/**** for a period ...
Feb 15, 2022 by MK SAINI
Return Flight booked on wrong date by Concierge Services team (Hdfc) Open
I have requested Concierge Services team to book flight to and fro from Hyderabad to Tirupati. They have booked return flight for **th March instead of **th Feb. When I approached team regarding the same they promised to pay return fares but no...
Feb 15, 2022 by Ravinder Reddy G
Net banking fraud (Sbi Bank) Open
My joint account with my husband, ( an ex army officer) is his pension account from which no shopping on net banking has ever been done in the past ** years. There is no credit card with the account . This fraud happened within * hours and con...
Feb 15, 2022 by Aradhana rana
Money not received after maturity (Sahara credit coop society ltd ) Open
My total investment is rs.******/- in Sahara credit cooperative society limited. It's maturity period is over * yrs....
Feb 13, 2022 by Gopal Ji Gupta
Misbehave from HOME CREDIT LEGAL TEAM (Home Credit India Finance Pvt Ltd Consumer Durable ) Open
Dear Team, This is to inform you that now I will not pay a single amount till your Legal Team Department Executive MR. Dharmendra Singh Bais will apologise to me as he was using very bad language and misbehave with me and now I am going to fil...
Feb 10, 2022 by Harsh Maheta
Unfair Trading (Byjus Company ) Open
I took Byjus learning programme for my two children on ** March-****.First I ordered for loan on my wife's account, but it was denied. Then after I order on my account, it is accepted with Ref.ID.**************. The order was delivered and cou...
Feb 09, 2022 by Srinivas Poka
CREDIT CARD BLOCKED WITHOUT PRIOR INFORMATION, BILL SENT, NOT ABLE TO REACH CUSTOMER CARE (IndusInd Bank) Closed
My indusind credit card was blocked without prior information to me, i was embarrassed in shopping mall, the bank cannot give satisfied reply to my queries, they said card blocked due to internal policy, now they are send me bills however card...
Feb 08, 2020 by Agnik Banerjee
Credit card misused (Sbi Credit Card) Closed
Hi Consumer care, I request you to Lodge the complaint as below. I have been provided a credit card ending ****.. The card was misused by someone on the dates with different location as below. **/**/**** - SBI Aravakurichi ATM **/*...
Feb 08, 2020 by Mohankumar Ramakrishnan
Capital cow fraud (Capital Cow) Closed
First I paid **k fee then he asked me to pay GST. I paid **k of GST. same time shourya asked me to add two positions and told me we will recover GST amount from this positions.I booked **k loss in those positions. When I informed Ashish abo...
Feb 08, 2020 by Jotiram Chavan
Airtek FAST TAG not recieved (Airtel bank) Closed
Airtel Payment Bank on Jan, ****. Bought fast tag through airtel payment bank on **/**/****. I was told on **/**/**** that i will recieve the fasttag in ** days. Even after repeatedly calling customer care i have yet not received the fast tag ...
Feb 07, 2020 by Arun kumar
Unable to convert transaction into EMIs (Sbi Credit Card) Closed
Regarding SBI Credit card My friend has taken your credit card and after few months when his outstanding was gone high he tried to call your customer care multiple times ( we have proof ) but your customer are dept did not help him to conve...
Feb 05, 2020 by Bikash kumar Sharma
HDFC bank stole my money (Hdfc Bank) Closed
On Sept **th, I got a notification from HDFC about Rs. *,**,*** deducted toward Amazon. I immediately reported this as a fraudulent transaction. I also got Amazon's confirmation stating that no transaction has occurred. But HDFC refused to act ...
Jan 26, 2020 by Riya Sebastian
Fraud by HDFC BANK (HDFC BANK AMRITSAR) Closed
The hdfc branch of Amritsar that is situated in fatehgarh shukarchak started my APY pension scheme from March **** and its been January ****,I have asked them so many times to stop this contribution scheme as by this scheme Rs *** deducted ever...
Jan 08, 2020 by Sumandeep Kaur
Wrong ATM Debit (Central Bank of India) Closed
I am a current a/c holder at Central Bank of India, Governorepet, Viojayawada I tried to withdraw Rs**k from Syndicate Bank ATM at Rajbhavan Road, Hyderabad on **th Nov but I did not get it. But to my surprise, I got SMS saying my Rs**k debited...
Jan 06, 2020 by ROZARIO TIRUCHUNAPALLI
Misbehavior false allegation harassment in front of public (Canara Bank Kadai Berhampore Murshidabad West Bengal) Closed
Ir, I,Mrs Rupa Sur Dey,a denizen of Berhampore, Murshidabad,would hereby, like to lodge a complaint against the Branch Manager, Canara Bank, Berhampore branch, Kadai. About a fortnight ago, I, along with my husband, Mr Surajit Dey, had bee...
Jan 05, 2020 by Rupa Sur Dey
Very loose service (Sbi shastri nagar) Closed
My return cheque didnot delivered me on time ...
Jan 02, 2020 by Shree govind motors
Fraudulent Transaction on Credit Card (State Bank Of India ) Closed
On *th December ****, * fraud transactions amounting to Rs. *****/- and Rs. ****/- happened on my credit card and as and when I saw the transactions alert I called customer care and informed them about the fraud and get the card blocked and did...
Jan 01, 2020 by Lakshya Agarwal
Milkbasket not refunding my Wallet money (Milkbasket) Closed
It has been more than a month since I closed my milkbasket account and asked them to refund my money. I have mailed them, told them on app, on calls, yet they are not refunding my money and harassing me. It has caused me mental agony and ...
Dec 14, 2019 by Divyam Gupta
My uc not get (Sbi Bank) Closed
I will wrote my id but not my details and I will purchase uc *** I didn't get uc ...
Dec 01, 2019 by Karthik
Fraud by bank (Gurgaon gramin bank) Closed
Sir Maine gurgaon gramin bank se loan liya tha Jisko Maine bhar diya tha usi samay par bank walo ne mere se sour urja ka loan kar diya .jabki Mujhe na koi sour urja diya gaya mere sath bank ne fraud liya hai please help me...
Nov 29, 2019 by Kishan chand
HDFC debit card replacement (HDFC BANK solan) Closed
Dear Sir/Ma'am In July **** (**nd July ****, **th July ****),I filed a online written complaint for not getting replacement of debit card on their website. My debit card was valid upto **/** . **th July ****, I filed complaint on HDFC mail ...
Nov 29, 2019 by Ritu Sareen
Amount deducted from my account but not credited to another account (Bank of India) Closed
Dear sir/madam I've transfer rs **** from my accont ***************(Boi) to anothr account ***********(Sbi) ifsc-SBIN******* by googlepay, I am transfering money **** by google pay and transaction get failed but on the spot rs **** deducted f...
Nov 28, 2019 by Aditya Rathore
Sahara not paying my deposit maturity amount (Sahara Credit Cooperative Society Limited) Closed
I have four deposits in Sahara credit cooperative society limited. * had matured in the month of June and * in the month of October ****. I had visited the office in the month of June to take my deposit amount. the person had not registered eve...
Nov 21, 2019 by SURENDRA KUMAR REDDY PADALA
Unnecessary Charges deducted by Axis Bank (Axis bank ltd ) Closed
Dear Sir/Mam My Mother has a saving account in axis bank. They have deducted Rs.*** from my mother's account written as Consolidated Charges and Rs. ** for GST. When i asked for bank employee they told me that is deducted for cash deposit. Sir ...
Nov 17, 2019 by Darshna Devi
ATM cash reversal denied (State Bank of India ) Closed
I HAVE ATTEMPTED TO WITHDRAW CASH FROM SBI ATM KANTHI COLONY (****), ENTERED PIN AND REQUIRED CASH OF Rs. ****. CASH HAS NOT BEEN DISPENSED AND MESSAGE DISPLAYED AS "LAST TRANSACTION CANCELLED" AND MY CARD RELEASED & HOME SCREEN DISPLAYED. WAIT...
Nov 14, 2019 by S RAVI KUMAR
Package not delivered (Shopype.com) Closed
I ordered Redmi note * pro on *th Nov **** price Rs.***** from ShopYpe.com payment through Phone Pe app...Till now I didn't get my package and can't track my order...the helpline number and website is not working...please can you help me to get...
Nov 13, 2019 by Zairemsangi
"I was unable to get in touch with anyone in Byjus nor with my counselor regarding my problem for 3 months. But Voxya team helped me solve my issue very soon. Thank you!"
Mamta D
Complaint filed against: Byju's