Handling complaints costs RBI Rs 144 cr: Here’s state-wise breakdown | Personal Finance

The Reserve Bank of India’s Integrated Ombudsman Scheme (RB-IOS) witnessed a substantial increase in consumer complaints, rising by 68.2% to 703,000 in the financial year 2023. This significant uptick in complaints comes alongside a notable decrease in the average cost of handling a complaint at the Ombudsman offices, which dropped to Rs 2,041 per complaint from Rs 2,895 in the previous financial year 2021-22, according to RBI report. The reduction in costs, for which the total amounts to Rs 143,56 crore, has been attributed to a simplified procedure for lodging complaints, making it easier for consumers to voice their grievances. 

State-wise contributions to complaint volume

A geographical analysis of the complaints revealed that the states and union territories of Chandigarh, Delhi, Haryana, Rajasthan, and Gujarat were the leading contributors to the ombudsman complaints. In stark contrast, the Northeastern states of Mizoram, Nagaland, Meghalaya, Manipur, and Arunachal Pradesh reported the lowest number of grievances.

Cost analysis per office

An office-wise breakdown of the costs associated with handling complaints presents a detailed view of the financials involved. The Ahmedabad office in Gujarat incurred the highest cost at Rs 8,637 per complaint, totalling nearly Rs 9.9 crore, whereas the Raipur office in Chhattisgarh reported the lowest cost of Rs 1,081 per complaint, with a total expenditure of Rs 1.15 crore. The overall cost for handling complaints across all offices amounted to Rs 143.56 crore.

First Published: Mar 13 2024 | 4:19 PM IST