Business Standard

Thursday, December 26, 2024 | 02:35 AM ISTEN Hindi

Notification Icon
userprofile IconSearch

Ombudsman on cards after hike in digital transaction frauds: RBI

The rise in complaints was because of deficiencies in banking services

RBI
Premium

Reserve Bank of India

Nikhat Hetavkar Mumbai
The Reserve Bank of India (RBI) on Wednesday said it will implement the ombudsman scheme for digital transactions because of a rise in complaints. According to its annual report for 2017-18 (FY18), grievances related to digital transactions were 28 per cent of total complaints till the end of June this year. In 2016-17 (FY17), it was 19 per cent.

The rise in complains was because of deficiencies in banking services, said the report. 

The scheme is being implemented at a time when growth in digital transactions is also robust. The volume and the value of such transactions during the year

What you get on BS Premium?

  • Unlock 30+ premium stories daily hand-picked by our editors, across devices on browser and app.
  • Pick your 5 favourite companies, get a daily email with all news updates on them.
  • Full access to our intuitive epaper - clip, save, share articles from any device; newspaper archives from 2006.
  • Preferential invites to Business Standard events.
  • Curated newsletters on markets, personal finance, policy & politics, start-ups, technology, and more.
VIEW ALL FAQs

Need More Information - write to us at assist@bsmail.in