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Consumer body to address banking complaints this month
The Times of India, June 6, 2019

The Consumer Guidance Society of India (CGSI), a consumer rights, NGO has dedicated the month of June 2019 for redressing complaints against the banking industry.

Dr. MS Kamath, honorary secretary of CGSI said, “The aim to assess and redress the grievance of people who have been ‘misled ‘ or ‘fooled’ by the industry.” This activity will also result in a statistical survey and assessment of the problems faced by consumers. CGSI, which runs the Maharashtra state consumer helpline, received 854 complaints against banks in 2018 and 1,010 in 2017-18.

Kamath said,” We recommend steps like uniform working hours for banks, uniform procedures and quarterly statements of loans to be supplied on demand. Clients who come for investing in fixed deposits should not be re-directed to Bank Assurance and mutual fund desks. No charges should be levied on the depositor for a bounced cheque. In case of merger of braches, care must be taken of consumers’ interests.”

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