RBI announces integrated ombudsman scheme for bank customers
3 years, 10 months ago

RBI announces integrated ombudsman scheme for bank customers

Live Mint  

The Reserve Bank of India on Friday announced an integrated ombudsman scheme to improve grievance redressal mechanism for bank customers. The RBI plans to integrate the three separate ombudsman under one centralised scheme to make the grievance redressal mechanism more efficient and simpler. “To make the ombudsman mechanism simpler, efficient and more responsive, it has been decided to integrate the three Ombudsman schemes and introduce centralised processing of grievances following a ‘One Nation One Ombudsman’ approach. This is intended to make the process of redress of grievances easier by enabling the customers to register their complaints under the integrated scheme, with one centralised reference point,” said RBI governor Shaktikanta Das said, while announcing the policy decision of the Monetary Policy Committee.

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History of this topic

In Chandigarh, RBI ombudsman bats for consumer empowerment
9 months, 2 weeks ago

In Chandigarh, RBI ombudsman bats for consumer empowerment

Hindustan Times  

Rajeev Dwivedi, chief general manager and ombudsman, Reserve Bank of India, who was in the city on Thursday, highlighted the pivotal role of Reserve Bank’s Integrated Ombudsman Scheme in swiftly addressing customer grievances. Our aim is to elevate consumer awareness surrounding the transformative RB-IOS.” He said the scheme, introduced on November 12, 2021, represented a significant milestone in RBI’s commitment …

RBI to harmonise Internal Ombudsman framework to strengthen customer grievance mechanism: Shaktikanta Das
1 year, 2 months ago

RBI to harmonise Internal Ombudsman framework to strengthen customer grievance mechanism: Shaktikanta Das

The Hindu  

With a view to strengthen customer grievance redressal system, RBI governor Shaktikanta Das on October 6 said the Central bank decided to effect certain changes and also consolidate and harmonise the Internal Ombudsman guidelines into a single master direction. RBI includes PM Vishwakarma under PIDF scheme; extends tenure of scheme by another two years The Reserve Bank of India, in …

10 things to know about Reserve Bank of India's Integrated Ombudsman Scheme
1 year, 5 months ago

10 things to know about Reserve Bank of India's Integrated Ombudsman Scheme

Firstpost  

The Reserve Bank of India launched a scheme to provide a simple and effective way for customers of various financial services to resolve their complaints. The Scheme integrates the existing three Ombudsman schemes of RBI namely, the Banking Ombudsman Scheme, 2006; the Ombudsman Scheme for Non-Banking Financial Companies, 2018; and the Ombudsman Scheme for Digital Transactions, 2019. The Scheme adopts …

CIBIL Score Grievance Can Be Resolved At RBI Now; CICs Included Under RBI's Ombudsman Framework
2 years, 4 months ago

CIBIL Score Grievance Can Be Resolved At RBI Now; CICs Included Under RBI's Ombudsman Framework

News 18  

The Reserve Bank of India on Friday decided to include credit information companies, also called credit bureaus, under the Reserve Bank-Integrated Ombudsman Scheme framework. In a statement on developmental and regulatory policies, the RBI said, “The Reserve Bank-Integrated Ombudsman Scheme 2021, covers regulated entities such as scheduled commercial banks including urban cooperative banks, non-banking financial companies and non-scheduled primary co-operative …

PM Modi to launch RBI's retail direct scheme
3 years, 1 month ago

PM Modi to launch RBI's retail direct scheme

Deccan Chronicle  

Mumbai: Prime Minister Narendra Modi will launch the 'RBI retail direct scheme' on Friday to allow retail investors to invest easily in government securities. “The retail direct scheme offers a safe, simple and direct channel for investment in government securities,” the RBI said. “The scheme places India in a list of a select few countries offering such a facility.” Ajay …

PM Modi to launch RBI's retail direct, integrated ombudsman schemes on Friday
3 years, 1 month ago

PM Modi to launch RBI's retail direct, integrated ombudsman schemes on Friday

India TV News  

Prime Minister Narendra Modi will launch two innovative, customer-centric initiatives of the Reserve Bank of India, the retail direct scheme and the integrated ombudsman scheme, via video-conferencing on Friday. In a statement on Thursday, the Prime Minister's Office said the RBI Retail Direct Scheme is aimed at enhancing access to the government securities market for retail investors. The Reserve Bank-Integrated …

RBI sees 387% rise in complaints against NBFCs, 58% rise against banks
3 years, 10 months ago

RBI sees 387% rise in complaints against NBFCs, 58% rise against banks

Live Mint  

The number of complaints against banks and non-banking financial institutions with Reserve Bank of India is on the rise. According to RBI’s annual report on Banking Ombudsman Scheme, the number of complaints against banks rose by 58% in the financial year 2019-20. The ombudsman for NBFCs received a total of 19,432 complaints in the same FY as against 3,991 a …

One Nation One Ombudsman: RBI to Integrate Consumer Grievance Redressal Scheme
3 years, 10 months ago

One Nation One Ombudsman: RBI to Integrate Consumer Grievance Redressal Scheme

News 18  

The Reserve Bank on Friday announced it will be integrating consumer grievances redressal under a single ombudsman as against three schemes working at present. There are dedicated ombudsman schemes devoted to consumer grievance redressal in banking, non-bank finance companies and digital transactions, respectively, at present. “To make the alternate dispute redress mechanism simpler and more responsive to the customers of …

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