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About banking grievance redressal portal for MSMEs

The Federation of Indian Micro and Small & Medium Enterprises (FISME) is proud to launch the MSME Banking Grievance Portal, a dedicated online platform designed to address the banking-related concerns and grievances of Micro, Small and Medium Enterprises (MSMEs) in India.

FISME recognizes the crucial role MSMEs play in India's economic growth and development. We understand that access to fair and transparent banking services is essential for their success.

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“Thank you very much for your guidance in resolving the matter of Laxmi Trading Co. with HDFC Bank. After filing the complaint with Ombudsman, now they have reversed the Foreclosure charges.”

Arun Kochar
Laxmi Trading Co.

“We would like to thank you immensely for your intervention with IDFC and your prompt guidance to us - We are happy to share with you that IDFC who had been dragging its feet for past 10 days to provide us a Foreclosure Letter without foreclosure charges.”

Neeraj Sethia
Managing Director, Sethia Handicratfs

“FISME has helped them selflessly and this effort shall continue unless the bankers do away with this mal-practive”

Neeraj Kedia

“We have forwarded the reply mail received from KVB regarding waiver of pre-closure charges. We achieved this with the help of Mr.Archit Tripathy, Deputy Director of FISME and we thank him for his great work and support”

Dr.Lokesh Venkatesan
Rathna Sweets


BANKING GRIEVANCE REDRESSAL FOR MSMEs\’ is a dedicated online platform designed to address the banking-related concerns and grievances of Micro, Small and Medium Enterprises (MSMEs) in India.

The portal enables the users who can be an individual, MSME with or without UDYAM registration or Associations to post their grievance and upload all relevant documents related to the issue. The users can track the status the status of their grievance redressal.

MSMEs face several issues while dealing with Banks. Some of the common grievances are related to loan application, sanction or disbursement delay, demand of additional collateral security, overcharging of interest, levying of foreclosure/prepayment charges, freezing services without intimation etc.

Each bank ought to get SOC signed from the customer/ borrower. Always keep a copy of SOC with you. Ask your banker to provide the same in case they have not given it to you. Make sure that charges are charged as per the SOC signed. For an example - SMS (for transaction) charges may be NIL, while after some time the bank starts charging. On enquiry, they may say that it was NIL for a particular period and shall be charged thereafter.

Many of the banks do not display the applicable rate of interest on the statement of account and thus may vary at the backend without informing customer. This is how the banks take higher rate of interest. Hence, it is important to regular reckon the interest charged by the bank. An excel sheet is given for the convenience of MSMEs which can help you calculating the interest amount if the date and amount (debit/ credit) are filled in the respective column.

Foreclosure charges are fees that banks charge borrowers who want to prepay their loans before the end of the loan term. These charges can be a significant financial burden for MSMEs, and they can make it difficult for the businesses to switch banks.

Foreclosure charges are never disclosed to borrowers in a clear and concise manner. Additionally, the amount of foreclosure charges can vary significantly from bank to bank and there is no consistent standard for how these charges are calculated.

If you have been unfairly charged foreclosure charges by a bank, you can register a complaint on this portal. To register a complaint, please click on the "Register Complaint" button below. You will be asked to provide some basic information about your business, the loan details, and the nature of the foreclosure charge you are facing. Please be as detailed as possible in your complaint.

Once you have registered a complaint, it will be reviewed by our team of experts. We will then contact you to discuss your complaint further and to provide you with information about potential solutions.

Any person who has a grievance against a bank on any one or more of the grounds mentioned in Clause 8 of the Banking Ombudsman Scheme may, himself or through his authorized representative (other than an advocate), make a complaint to the Banking Ombudsman within whose jurisdiction the branch or office of the bank complained against is located. The complaint in writing shall be duly signed by complainant or his authorized representative.

The complaint made to Banking Ombudsman shall state clearly- the name and the address of the complainant, the name and address of the branch or office of the bank against which the complaint is made, the facts giving rise to the complaint, the nature and extent of the loss caused to the complainant, and the relief sought for.

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An initiative by Federation of Indian Micro and Small and Medium Enterprises