Top consumer complaints in 2024 - Voxya Consumer Forum Online

Banking Complaints

A bank refers to a financial institution that accepts deposits and creates credit. Banks are of utmost importance to the economy and are a safe place to deposit excess cash.

The Indian Banking sector is ranked 6th across the globe. With many private sector and public sector banks thriving in India, the banking industry is congruously capitalised and well-regulated by the Reserve Bank of India. The stats on market, credit and liquidity bespeak the handy preparedness to sustain any global crisis.

India is presently home to 34 banks out of which 22 are private sector banks, and 12 are public-owned banks. Multiple other Foreign Private Sector Banks are operating as part of the Indian banking sector as well. Let us take a look at the Top 5 Famous Banks in India.

Famous Banks in India

1. State Bank of India: SBI is the oldest and also the largest bank functioning in India and has been a Fortune 500 company for 14 long years. Post-Independence, the State Bank of India got enacted on 1st July 1955. It has its headquarters located in Mumbai, the financial capital of the country.

The bank has 57 Zonal centres and 14 Local centres with 85,356 branches and 59,291 ATMs pan India. SBI has a market cap of INR 2,93,218.11 crores with a market share of 23% with its presence in 36+ countries. It has been recognised as the Best Transaction Bank & Best Payment Bank in India.

Total Assets – INR 30 lakh crores
Revenue – INR 3.68 lakh crores
Number of employees – 2,64,041

2. HDFC Bank: The bank is well known for receiving first 'in principle' consent from the Reserve Bank of India (RBI) which authorised it to set up a bank in the private sector. It was founded in August 1994 given the liberalisation that took place in the Indian Banking Industry.

The bank started its operations as a Commercial Bank from January 1995. With its headquarters in Mumbai, The Housing Development Finance Corporation Limited (HDFC) functions across 2,768 towns and cities with 5,314 branches and 13,610 ATMs in India. It has a market cap of Rs.6,25,666 crores as of 2019.

Total Assets – INR 11.89 lakh crores
Revenue – INR 1.17 lakh crores
Number of employees – 98,061

3. ICICI (Industrial Credit and Investment Corporation of India) Bank Private Limited: It occupies the second place when it comes to volume of assets operated by the bank. The bank is the second largest in terms of market cap and total assets, making it the leading private sector bank in India.

ICICI was formed in 1994 with the principal aim to offer medium-term and long-term project funding to Indian businesses. The bank has its headquarters in Mumbai with its registered office in Vadodara, Gujarat. It currently has its footprint across India with 5,275 branches and 15,589 ATMs along with its presence in 16 countries outside India.

Total Assets – Rs. 13.77 trillion
Revenue – INR 1.49 lakh crores
Total employees – 82,724

4. Punjab National Bank: The Punjab National Bank, PNB is the third-largest bank functioning in India. The bank serves more than 80 million customers with 7000 branches and 10,681 ATMs, expanding its footprint to 764 cities. It currently operates from its head office located in New Delhi.

Founded in 1894 from Lahore, the bank has served eminent freedom fighters of India. It later got nationalised in July 1969. As one of the oldest banks in the country, it has a market cap of Rs. 37,411 crores as in 2019. PNB recently bagged the prestigious IBA Banking Technology Awards.

Total Assets – INR 6 lakh crores
Revenue – INR 80,512 crores
Total employees – 70,801

5. Bank of Baroda: Bank of Baroda has now become the third-largest lender of the country after it merged with Vijaya Bank and Dena Bank into a single entity. It carries a pride of 127 million customers across 21 countries and growing bigger and better day by day.

The bank operates from its main office in Vadodara and has 9,500 branches and 13,400 ATMs across India. Founded in July 1908, it has a market cap of more than 35,000 crores currently.

Total Assets – INR 11.5 trillion
Revenue – INR 91,000 crores
Total employees – 48,807

Top Banking Complaints in India

According to a recent survey by Times of India, every hour 11 people complain against their bank. The most commonly reported banking complaints in India by consumers include bad customer service, checks/funds bouncing, extra charges levied, debit/credit card blocked etc.

Almost 30% to 37% of bank complaints occur due to the bank's failure to fulfill commitments and lack of fair practices. Banks reporting fraud or complaints have been on the rise more than ever before. What's more disturbing is the account holders face never-ending issues even after being connected with the banks for a long time.

Around half a million people have reported filing complaints in the last five years. From high interests to willful delay in processing payments (leading to penalties), and lack of fair practices to denial of closing accounts, banking customers are having a tough time continuing with the financial hassle.

The numbers of banking complaints see a double-digit rise in the past few years. The financial period of 2018-19 witnessed a surge of 20% in the complaints against banks. Non-adherence to fair practices saw the most number of complaints followed by issues related to pension, levy of charges, and debit and credit card issues.

1. Hidden fees
Customers feel cheated about the excessive fees and hidden charges by the banks. Most often, customers are not aware how they can choose to stay out of overdraft protection. Unexpected charges by bank remains a major issues for consumers from Bangalore, Pune, Mumbai to Patna. Reaching out to their bank is always a good idea to have a clear picture of fees and extra charges.

2. Bad customer support
This is something which every customer is concerned about. Even if the customers manage to reach out to the customer service, they don't see any credible solution. It gets quite worse when the bank employees are unable to resolve your issue. Being heckled from person to person, and being asked to wait at every desk test the best of temper.

The only solution you have is to stay calm and wait for the response from the bank to get the issue resolved.

3.Beneficiary does not get the money
This is one of the most common issues faced by banking customers in all the major cities in India like Mumbai, Bangalore, Pune, New Delhi and Kolkata. The amount gets deducted from their account, and it is shown that the transaction is successful, but it doesn’t get credited into the beneficiary’s account. EMI payers mainly lodged such complaints that the EMI would get deducted from their account but would not be credited to the beneficiary.

4. Fraudulent transaction
According to the Economic Times, there is a rise of 74% in banking frauds. Digital transactions via net banking and UPI are preferred over cash for a contactless mode of payment. But with an increase in online payments, there has been a rise in fraud cases.

Many customers complain that the money from their account has been deducted for things they have not purchased. Banks take a lot of time in addressing such complaints, and usually, customers get frustrated with the process.

5. Transaction failure
Transaction failures are very frustrating and embarrassing. When consumers are out, and they haven’t carried the cash, they will pay via net banking or UPI or ATM, but sometimes bank servers would go down suddenly, and the transaction would fail, or in some cases, the amount would get deducted, and the transaction would fail which can be misleading for both payer and recipient.

How to resolve Banking complaints?

1. First and foremost step should be contacting the bank’s customer care itself as they genuinely care about the customer satisfaction and would be willing to resolve the consumer complaints. Here are customer care number of some of top banks in India :

State bank of India (SBI) Customer Care - 1800 425 3800
Union Bank of India (UBI) Customer Care - 1800 22 2244
Allahabad Bank Customer Care - 1800 57 22 000
Bank of Baroda Customer Care - 1800 102 4455
UCO Bank Customer Care - 1800 274 0123
Bank of Maharashtra Customer Care - 18002334526
Bank of India (BOI) Customer Care - 1800 22 0229
Central Bank of India (CBI) Customer Care - 1800 22 1911
HDFC Bank Card Customer Care - 1800 266 4332
ICICI Bank Customer Care - 1800 200 3344
Punjab National Bank (PNB) Customer Care - 1800 180 2222
Axis Bank Customer Care - 1860 419 5555

2. Apart from calling customer care numbers, a customer can visit the bank and meet the officials or complain at the grievance cell to sort out the issue. However, you should try submitting your complaint to the bank in writing, to keep a record of your complaint. Also, some banks have an option of filing a complaint at their website also.

3. However if the bank is unwilling to address the issue then you can approach the Banking Ombudsman. A banking ombudsman is a senior official appointed by the Reserve Bank of India (RBI) to resolve consumer complaints against deficiency in the banking services. So far there are a total number of 15 Bank Ombudsman whose number can be found on the official RBI website.

The consumer has to file a complaint at the ombudsman under whose jurisdiction the bank branch is located. All the consumer has to do is write it down on paper, or send a complaint via email. There are no charges for filing a complaint. However if you are not satisfied with the settlement offered by the ombudsman, you can file an appeal before the appellate authority within 30 days.

4. Send Legal Notice:
A Consumer can send legal notices to the Bank in case it is unable to resolve his complaint. It is one of the efficient ways to handle consumer complaints legally. Check below to know how to send a legal notice to a Bank?

Step 1: Firstly, get a legal notice drafted by a lawyer.
Step 2: Check it properly and make sure it is signed by a lawyer.
Step 3: Keep a copy of it for future purposes.
Step 4: Send the legal notice to the Bank by registered post.
Step 5: Keep the slip or delivery report for evidence.

5. File consumer forum case:
Consumer forum deals with consumer complaints and you should approach the consumer forum if you feel that your rights as a consumer have been violated.

If your Bank is not responding to your complaint even after sending legal notice by a lawyer then you should file a case against it in a consumer court.

Here is how you can file a case against the Bank in the consumer court?

Step 1: Intimate the aggrieved party via legal notice.
Step 2: Draft the consumer complaint
Step 3: Attach all the relevant documents and proofs to support your complaint.
Step 4: Select the appropriate court for filing the complaint.
Step 5: Pay the prescribed court fee that is required to be paid along with the complaint.
Step 6: Submit the case along with the affidavit & fees in the court.

There are strong chances of nothing being done against your complaint if you're not serious about it. So, if you are still left stranded with nowhere else to go then you can always file a consumer complaint at Voxya. We at Voxya, generally receive around thousands of Banking complaints in a month.

So how do we actually resolve these Banking complaints? We start a social media campaign and then send an email to the Banks to resolve the complaint amicably. Moreover if strict actions need to be taken then we draft a legal notice and send it to the concerned Bank.

Most Common Issue Reported for Banking Complaints

Fraudulent transaction

Beneficiary not credited

No Cashback

Bad customer support

Unauthorized Wallet transaction

Amount deducted but transaction failed

Fraudulent txn (Mobikwik App ) ^Open

On **nov**, fraudulent txn of Rs ***** through mobikwik zip wallet linked to my no **********, described as towards my ICICI visa credit card (xxxxxxxxxxxx****) bill payment and also later successful status confirmed by sms/mail but no such amo...

May 01, 2025 by Akshay Kumar Goel

Refund of money deposit (Vgn Jewellers Mulund) ^Open

I deposited advance amount for the gold on **.**.****. The refund was promised on **.**.****. When approached during the due date, they asked for a months time. I am a widow with two daughters. This is our hard earned money. Requesting for the...

Apr 30, 2025 by Reni Seby

Refund not credited (reliance NBFC finance Limited) ^Open

the personal loan i applying for and somany charges tax, etc and request them to refunded bacy my money since the loan i,m not getting. the Refunded form i have done and pay the refunded charge and again to pay the difference charges. please he...

Apr 29, 2025 by Aibandondor sad

1 Fraudulent online loans 2 Fraudulently used my Credit cards without my consent (1 CRED app used my KYC fraudlently used and took loans 2 IDFC bank someone took four loans on my name 3 Credit cards like SBI ICICI and RBL used my cards without my consent and knowledge even though cards were in my possions all the time ) ^Open

Subject: Complaint Regarding Fraudulent Loans and Credit Card Misuse. Dear Sir, Greetings. I am writing to file a formal complaint regarding fraudulent activities carried out using my identity. Someone has misused my KYC documents to take l...

Apr 26, 2025 by DALBIR SINGH

Charge for fraudulent transaction (icici bank) ^Open

I received a call on ** feb ****. they said that the are from icici bank. They said that I have some unredeemed points in my credit card and told me to fill my details on a website. After filling the details, my credit card for charged with ***...

Apr 23, 2025 by Rupansh Gupta

Not able to withdraw money (Fyp Money) ^Open

My card expired in nov. In ****, they didn't allow me to withdraw my money and asked me to mail a cancel cheque in Yes Bank and an application attached with it, and I sent it to them three times, but they gave no response....

Apr 20, 2025 by Nishant Meena

Funds deduction (Parimatch) ^Open

Hi. I had a balance of **** in my parimatch account. And one of the employee name Hansi she forced me to click on the bonus cancel option. After clicking on the my amount got deducted. Later she said it will be added back to main balance. Now t...

Apr 20, 2025 by Charan Kumar

Request for Extension on Crop Loan Repayment Due to Financial Hardship (Bank of Maharashtra) ^Open

Respected Sir/Madam, I, Ramesh Zipru Sable, a farmer residing at Mu. Jamle (Ha), Dalwat, Taluka Kalwan, District Nashik, am writing to respectfully inform you of my current financial difficulties and to request your kind consideration regard...

Apr 08, 2025 by Sagar Sabale

Iifl finance emi double deduction (Iifl finance) ^Open

The issue is of EMI being debited twice. There was an sms containing my loan and my EMI details. This also had information of an option of paying an early EMI. Since I get my salary by **th every month, I clicked this link and made the paymen...

Apr 08, 2025 by Vishal Verghese

HDFC Bank Crdit Card (Hdfc Bank) ^Open

I became aware of the fraudulent transactions after receiving WhatsApp messages—please find the attached PDF file as proof. After that, I immediately called the customer care center to request the card be blocked and to register a complaint....

Apr 05, 2025 by Sham Nayse

Company conducting malpractices (TradeCred) ^Open

Company conducting many malpractices. Some of them are given below: *. They do not respond to the query on timely and sutisfactorely manner. *. They have made my investment "no liquidation" without a prior notice. *. I cannot see my protfoli...

Apr 05, 2025 by Rajesh Kumar Thakur

I accidentally deposited an unsupported coin in coindcx (Coindcx) ^Open

I accidentally deposited an unsupported coin in coindcx from Cwallet and it was successful. I have connected with coindcx support and escalated the concern and talked to a supervisor too, they are just telling they can't do anything and asked t...

Apr 04, 2025 by Muhammed Musharaf V N

CRED CASH LOAN EMI DEBITED TWICE (CRED Dreamplug Technologies Private Limited) ^Open

CRED deducted my EMI TWICE...EMI AGAINST CRED CASH LOAN EMI TWICE ...

Apr 03, 2025 by parasar chakraborty

Mentally harassed by cibil (CIBIL) ^Open

Below two accounts are wrongly showing in cibil report. Have followed a lot with cibil and muthoot finance but all in vain. Cibil is not correcting this and muthoot finance is not confirming to cibil. They just don't understand common man's ...

Mar 28, 2025 by PANKAJ KUMAR SINGH

Mentally harrasment by muthoot finance (Muthoot finance limited) ^Open

Wrong loan accounts are appearing in my cibil report and because of this i am not getting any loan from bank.I am regularly following up with muthoot finance since **th of march **** to confirm in cibil but they have still not confirmed the sam...

Mar 27, 2025 by PANKAJ KUMAR SINGH

Fraud Investment (Ucoin digital trading platform ) ^Open

I lost about ****** amount on the Ucoin digital platform. I got the link from Telegram and needed to complete the task, but then they said you made a mistake, and the amount is frozen. To unlock, add more. When I gave the amount, they said the...

Mar 27, 2025 by jai singh

Not refunding money maturity date is over (Adarsh credit cooperative society udaipur ) ^Open

Madhu agrawal **.**.**** rs***** deposited Pallavi agrawal **.*.**** rs ****** deposited Sheetal agrawal **.*.**** rs ***** deposited Mithla agrawal **.*.**** rs ***** deposited How I got money maturity date is completed ...

Mar 22, 2025 by Gaurav Agrawal

Aeronpay Not Received Refund Amount for CC Payment (Aeronpay) ^Open

Dear Sir, I am Prabhijit S Prasad, I have been using Aeronpay app for credit card bill payment many times, most of the time my credit card account is credited on right time, sometimes there is a slight delay in payments but on **/**/**** when ...

Mar 20, 2025 by PRABHIJITH S PRASAD

Scoin scam (Scoin Scam ) ^Open

I was asked to complete a few tasks for money. Then they asked for money to perform some tasks in the scoin website. The website is scoin****.net. After a while they said i did not perform the task properly, to recover i need to give them *****...

Mar 14, 2025 by Pankaj Singh Kholiya

Legal Assistance Required for Check Bounce Case (Not listed SowmyaShree 91 ) ^Open

I need your legal assistance regarding a check bounce case. I had lent Rs. *,**,*** to an individual named Swapnashree, and despite repeated follow-ups, she has not returned the money. She issued a check, but it has bounced due to insufficient ...

Mar 14, 2025 by Raksha

CoinSwitch Kuber Not Able to Access My Account and Support team not giving any solution (Coinswitch Kuber) ^Closed

I was doing cryto trading through CoinSwitch app, and updated the app then suddenly it's not allowing to access my account stating my pin is not valid. When I raised ticket to their support team...they were just saying we'll help you and suppo...

Apr 17, 2022 by Karan Suri

Account close karne se related (Slice credit card) ^Closed

hai sir.... mera naam siddappa m majjagi ,Mein slice credit card ka costumer hu aur maine ** jan **** ko slice ka full repayment karneke baad slice card ko bandh/delete karnekeliye official helpline email me mail bheja tha, lagathaar mails bhej...

Apr 16, 2022 by siddappa m majjagi

Fraudulent late payment fee (ZestMoney) ^Closed

Loan ID: B*B*AD***D** *. Auto-debit mandate of EMI of Rs. ****.** was active and due on **-**-****, which was not processed by Zestmoney on such date. *. On **.**.****, i received email from Zestmoney that, "DUe to technical issue auto deb...

Apr 10, 2022 by Manzil Ardeshna

Amount not sent (Binomo com trading app ) ^Closed

My amount not credit in my account for * month I withdraw my money * January in binomo app.i continuing talk on chat support for * month.company says you can send bank statement. I sent my bank statement ** time in live chat but same reply bino...

Apr 09, 2022 by Kapil Rohilla

Fraud by Dhani Finance (Dhani Loan Finance Ltd ) ^Closed

Dhani Finance promised me personal loan to be disbursed within few hours. They took Rs. ***** as processing fee, Loan insurance and ECS charges. It’s been * days and the loan amount has still not been disbursed. They are simply giving excuses...

Mar 27, 2022 by Soma Dutta

Amount not credit for 2 month 20 days (Coindcx) ^Closed

Sir, I withdraw my amount in January month but amount not credit .I share my bank statement for Coindcx support team but long time there no resolve my issue.he day by day delay. Can't response on mail. I need my money urgent basis....

Mar 24, 2022 by Kapil Rohilla

Amount debited but not credited by beneficiary due to malfunction of upi and now beneficiary not ret (Dhani app) ^Closed

payment done from ICICI account UPI that for Rs.**** deducted thrice with only UPI no **** successfully updated to dhani account whereas other two done before was showing unsuccessful...

Mar 19, 2022 by Harash Lath

PAYMENT REVERSAL (PayTM) ^Closed

Dear Sir/Madam This is inform you that On **-**-**** i have sent amount of Rs.**,***/- wrongly from BANK OF BARODA credit card to UPI ID of (Antonyraj@icici) using through Paytm rent Sent wrongly that UPI ID after that i complaint to...

Mar 14, 2022 by Antony paulraj b

Refund amount credited to lazypay but has not been adjusted in outstanding amounts by Lazypay (Lazypay) ^Closed

I have purchased a product from Flipkart by using Lazypay buy now pay later card on * March****. some reason i was cancelled the order and Flipkart initiated refund and Flipkart confirm that it was completed on * March ****. Accordingly it wa...

Mar 12, 2022 by Debabrata Majumder

Refund related (PayTM) ^Closed

Actually my * transactions cancelled from the merchant side as there is a out of stock of medicines so from that i received only * refunds so where is my * more refunds the medicine is for cancer patient medicine the patient will die if no medi...

Mar 08, 2022 by Ashreen sultana

Refund Against Two Wheeler Policy (Policy Bazaar) ^Closed

The company was not able to provide the policy on time and after asking for the refund also they are delaying the dates and not giving any proper resolution on the refund amount....

Mar 06, 2022 by Nilanjan Mitra

Lazypay Closed loan but still autodebit from my account (Lazypay) ^Closed

Closed loan but still autodebit from my account ...

Mar 03, 2022 by Arjun pu

LPG gas booking money debited LPG refunded to mobikwik but still mobikwik not refund to me (Mobikwik) ^Closed

LPG gas booking money debited & LPG refunded to mobikwik but still mobikwik not refund to me,REFUND NOT RECEIVED BACK FROM MOBIKWIK...

Mar 03, 2022 by Shakilmiya malek

Bharatpe Incorrect loan guarantor details (Bharatpe) ^Closed

Hi, This in with regards to one ongoing loan in the name of Gaurav Somnath Bhamare (**********). I have been receiving frequent calls for the repayment of the loan amount from **********, **********, who mentioned himself to be someone from ...

Mar 03, 2022 by Rakhi Yadav

Money Debited but never credited or refunded (Google Pay and Sbi bank) ^Closed

On **rd Feb, I made a transaction for Rs.***** from google pay and the money got debited from my account and never reached receiver and the transaction status is failed in google pay. I’ve been following the customer care ever since and nothi...

Mar 03, 2022 by Vivek N

ICICI Prudential Policy SurrenderPending even after a month Misselling of savings account at ICICI B (Icici Prudential Life Insurance And Icici Bank) ^Closed

I took the home loan insurance from ICICI Prudential on **/**/**** and requested for surrender/refund on **/**/**** as part of loan takeover. (That means the policy was used only for * months and ** days.) I submitted all the policy surrender d...

Mar 02, 2022 by Anupriya Sajeev

Amount on Hold (Sbi Bank) ^Closed

I have my bank account in sbi bank ADB DATIA (SBIN*******) Phone no.- ********** Acc no.-*********** From the last couple of days i am suffering hold on my account for rs.**** for i a transaction which i have done successfully and due to ...

Mar 01, 2022 by Abhay Yadav

Refund not credited to my account (Google Pay App) ^Closed

On ** Feb **** I Did Transaction Of ***** To Dhani App On Google Pay,Amount Is Deducted From My Account But In Dhani App It's Showing Transaction Is Failed, Dhani Uses The Razorpay Is Payment Gateway, As Razorpay Send Mail To Me Stating That Th...

Feb 25, 2022 by Panchayya Dhanayya Swami

Refund is not credited to my account (Razorpay Software Private Limited) ^Closed

On ** Feb **** I did Transaction of ***** to Dhani app on Google pay,amount is deducted from my account but in dhani app it's showing Transaction is failed, Dhani uses the Razorpay is payment gateway, as Razorpay send mail to me stating that th...

Feb 24, 2022 by Panchayya Dhanayya Swami

Refund not credit (One Mobikwik Systems Private Limited) ^Closed

without my permission my credit card amount was debited. I am requesting you to resolve the issue ASAP. ...

Feb 19, 2022 by Prasad B