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GRIEVANCE REDRESSAL AND RBI OMBUDSMAN SCHEME 2021
What is the primary objective of the RBI Integrated Ombudsman Scheme 2021?
The scheme aims to provide a cost-free, expeditious, and impartial redressal of complaints against regulated entities like banks, NBFCs, and payment service providers under a single platform.
What is the minimum number of days a bank has to resolve a complaint before the customer can escalate to RBI Ombudsman?
30 days from date of complaint to bank
When was the RBI Integrated Ombudsman Scheme 2021 launched?
It was launched on November 12, 2021 by the Prime Minister of India, replacing three earlier separate ombudsman schemes for banking, NBFCs, and digital transactions.
What is the monetary limit of complaints that the RBI Ombudsman can entertain?
Up to Rs. 50 lakh in compensation
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