Letter to BS: HSBC, Stanchart, Citi top the charts in customer experience

The report released by RBI is a manifestation of more people coming into the banking system and low levels of financial literacy

This refers to “HSBC, Stanchart, Citi top the charts in customer experience: Kantar report” (July 12). The growing dissatisfaction and increasing customer complaints regarding banking services are apparent in the data thrown in the RBI Annual Report of Banking Ombudsman, Kantar Report and the BCSBI report on customer satisfaction. 

It is also a manifestation of more people coming into the banking system, low levels of financial literacy, growing awareness of complaint redress forums and the complexity of newer banking products. It must be understood that many of the new entrants into the banking system have leapfrogged from cash-based payments to electronic