Data launched by way of the Reserve Bank of India (RBI) in the yearly document displays that court cases in admire of ATM and debit playing cards with the banking ombudsman have fallen to 41,375 in 2021-22 from 67,800 in 2019-20 and 60,203 in 2020-21. As a proportion of general court cases, they’re now handiest 15.4% as opposed to just about 22% two years in the past.
According to bankers, consumers now use UPI to make bills from their accounts as a substitute of debit playing cards. However, court cases in admire of loans and advances have risen to 24,507 (9% of court cases) in 2021-22 from 16,437 (5.3% of court cases) in 2019-20.
This build up within the proportion of court cases on the subject of loans and advances coincides with the rising proportion of retail loans in financial institution credit score. The ombudsman for virtual bills won 2,281 court cases in FY22, whilst the NBFC ombudsman won an extra 20,439 court cases. This used to be along with the two,09,196 court cases won underneath the banking ombudsman scheme.
The yr additionally marks the release of the Reserve Bank – Integrated Ombudsman Scheme (RB-IOS) on November 12, 2021. Between November 12, 2021, and March 2022, 72,580 court cases have been won underneath the built-in ombudsman scheme.
During the pandemic, the RBI additionally introduced the Centralized Receipt and Processing Center (CRPC) underneath the RBI-IOS. Of the 1,49,419 court cases treated on the CRPC, for the reason that release, 1,43,552 court cases have been disposed as of the top of March 31, 2022.