Consumer complaints against banks and NBFCs rose significantly in FY23-24, largely due to issues with loans, digital banking, and deposit accounts. The RBI focused on strengthening the consumer grievance mechanism as complaints against private and public sector banks increased, while ATM/debit card complaints saw a decline. Consumer complaints against banks and NBFCs rose significantly in FY23-24, largely due to issues with loans, digital banking, and deposit accounts. The RBI focused on strengthening the consumer grievance mechanism as complaints against private and public sector banks increased, while ATM/debit card complaints saw a decline. Economic Times
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