Consumer body to take up citizen issues with RBI, IBA

Went to your bank and found that you had reached half an hour earlier while neighbouring bank was already open? These and other issues that trouble you may soon be taken up by the RBI and IBA by consumer body for which it also invites you to give them complaints that can also be taken up.

The Consumer Guidance Society of India (CGSI) said that it will soon be approaching Reserve Bank of India (RBI) and Indian Bank Association (IBA) to take up issues related to banking industries faced by consumers. The body runs a consumer helpline that is supported by state government. In a press statement issued on Thursday, CGSI stated that it has also decided to dedicate month of June for redressing complaints related to banking industry which help gather more consumer issues that can be taken up.

The CGSI said as the industry was playing important part in the lives of Indians but there were complaints that led them to decide on this. The body received about 854 complaints against the industry in the year 2018-19, and 1,010 complaints in the year 2017-18.

Among other issues that the CGSI has shortlisted are consistent procedures from these public as well as private sector banks, interests of consumers should be prioritized in case of mergers, interest of senior citizens must be protected, quarterly loan statements be given when demanded, and no charges on depositors for bounced cheques among others.

"There are times when people visit banks and each have a different time they start and close their day. Some start early while some end early. A consumer has to do unnecessary running around. There needs to be some uniformity so that no matter which state or city a person is in, there will not be a problem of timing," said M S Kamath, honorary secretary of CGSI.

He added, "In the month long drive in June, we will also ask consumers if they relate to these issues or have some others ones that we can include so those too can be taken up." RBI and IBA could not be reached for comment.

Understanding Consumer

• CGSI stated that it has decided to dedicate month of June for redressing complaints related to banking industry which help gather more consumer issues that can be taken up
• The CGSI said as the industry was playing important part in the lives of Indians but there were complaints that led them to decide on this
• The body received about 854 complaints against the industry in the year 2018-19, and 1,010 complaints in the year 2017-18