In view of this, there is a need for banks to adhere to the timelines for settlement of claims as per the guidelines issued by the RBI, she added.
In this backdrop, Khare said: "RBI, being the banking regulator, is requested to look into the matter and take up the issue with the banks urging them to adhere to the timelines stipulated in guidelines issued by RBI in this regard."
The CCPA can extend cooperation to the RBI in ensuring speedy redressal to the consumers, she said in the letter.
Further, Khare informed that the analysis of the consumer grievances received through NCH showed that a number of grievances have been received pertaining to failed or cancelled banking transactions and money not refunded.
There were also grievances related to inter-banking services like IMPS and UPI, wherein transactions have failed but money not reversed/transferred although money deducted from the bank or wallet account of the consumers, she added.
The letter also said the CCPA was established on July 24, 2020 to regulate matters related to violation of rights of consumers, unfair trade practices, and false or misleading advertisements which are prejudicial to the interest of public and consumers and to protect, promote and enforce the rights of consumers as a class.
The CCPA is empowered to conduct investigations into violation of consumer rights, order recall of unsafe goods and services as well take sue-motto complaints where a class of consumers is impacted due to a defective product or deficient services and also impose penalties.
While conducting an investigation after preliminary inquiry, CCPA will have the same powers given under the provisions of the Code of Criminal Procedure, 1973 for carrying out search and seizure, the letter added.
(Only the headline and picture of this report may have been reworked by the Business Standard staff; the rest of the content is auto-generated from a syndicated feed.)
Business Standard has always strived hard to provide up-to-date information and commentary on developments that are of interest to you and have wider political and economic implications for the country and the world. Your encouragement and constant feedback on how to improve our offering have only made our resolve and commitment to these ideals stronger. Even during these difficult times arising out of Covid-19, we continue to remain committed to keeping you informed and updated with credible news, authoritative views and incisive commentary on topical issues of relevance.
We, however, have a request.
As we battle the economic impact of the pandemic, we need your support even more, so that we can continue to offer you more quality content. Our subscription model has seen an encouraging response from many of you, who have subscribed to our online content. More subscription to our online content can only help us achieve the goals of offering you even better and more relevant content. We believe in free, fair and credible journalism. Your support through more subscriptions can help us practise the journalism to which we are committed.
Support quality journalism and subscribe to Business Standard.