It has been observed that the complaints regarding online banking frauds is rapidly increasing. According to the banking Ombudsman in 2013-14, the major number of the complaints received were regarding ATM and debit cards.
Last Day in a conference, Krishna Mohan stated that number of complaints have increased by 4 per cent at 4,477 in the two states. The apex bank has asked the banks to monitor and keep a check on the online banking transactions and aware people to be cautious while making online transactions. Heedlessness of the customers while using the credit cards is a major reason of increase in frauds.
Number of complaints regarding the charges and confusion over fixed and floating rates of interest was also received. State bank of India is having the largest share in the number of complaints. 44% complaints were from SBI and its associate banks.