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Complaints of credit card customer are more from Public sector banks

Customer complaints are more from Public sector banks

Apnaloan.com Research Bureau

21 Feb 2008

The Reserve Bank of India indicated that 20% of banking services complaints comes from credit card customers. The number of complaints against public sector banks (PSBs) is more that those against private and foreign banks, in spite of PSBs having a very small credit card base.

Complaints per every 1000 customers was 0.79 for PSBs, 0.26 for foreign banks, and 0.20 for Indian private banks. Currently there are more than 40 million credit card customers in India and the industry is growing at 35-40% each year. The major players in the credit card sector are the Indian private sector banks like ICICI, HDFC and the PSB State Bank of India (SBI).

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