Outlook Money
Complaints over unauthorised digital transactions due to inadequate fraud prevention mechanisms of regulated entities (REs).
The lack of a daily reconciliation mechanism at REs delays the reversal of failed transactions.
Loans and advances account for a larger portion of complaints due to unclear or lack of communication by REs regarding interest rates, etc.
Cross-selling and mis-selling products to customers by REs due to incomplete or wrong information.
Senior citizens getting delayed responses to their pension queries.
Complaints against charges due to non-maintenance of the minimum deposit in bank accounts.
Wrong credit reports due to the delay in sending updated credit information to credit information companies (CICs).
Harsh measures adopted by recovery agents of regulated entities.
Compiled By Himani Verma