According to the latest Reserve Bank of India (RBI) annual report, RBL Bank experienced the highest average of 6.52 complaints per branch during the fiscal year 2022-23 among scheduled commercial banks, indicating a concerning trend in customer grievances directed towards the bank.
Released on March 11, the report highlighted a significant total of 3,486 complaints lodged against RBL Bank, as reported through the offices of the RBI Ombudsman (ORBIOs). This substantial volume of complaints underscores the challenges faced by the bank in addressing customer concerns and maintaining satisfactory service standards.
In comparison, private sector banks collectively received a staggering 73,764 complaints over the same fiscal period, signaling a widespread issue within the sector.
The State Bank of India (SBI), being India’s largest public sector bank, encountered a notable 40,345 total complaints during FY22-23, with a per-branch complaint level of 1.61. Other major public sector banks, including Bank of Baroda, Punjab National Bank, and Canara Bank, also faced a considerable number of complaints, contributing to a cumulative total of 102,144 complaints against all public sector banks.
Additionally, among Small Finance banks, AU Small Finance Bank emerged as the recipient of the highest number of complaints, totaling 899, indicating a broader trend of dissatisfaction among customers within this banking segment.
Moreover, the report shed light on Paytm Payments Bank Ltd (PPBL), which registered a concerning 501.86 complaints per branch between April 1, 2022, and March 31, 2023. This figure represents the highest number of complaints per branch recorded against any payments bank, as revealed by the latest RBI annual report.
Overall, these statistics underscore the imperative for banks, including RBL Bank, to enhance their customer service mechanisms and address underlying issues to ensure a satisfactory banking experience for customers.