RBI Integrated
Ombudsman Scheme

Reserve Bank - Integrated Ombudsman Scheme, 2021

A Scheme for resolving customer grievances in relation to services provided by entities regulated by Reserve Bank of India in an expeditious and cost-effective manner under Section 35A of the Banking Regulation Act, 1949, Section 45L of the Reserve Bank of India Act, 1934, Section 18 of the Payment and Settlement Systems Act, 2007 and Section 11 of the Credit Information Companies (Regulation) Act, 2005.

Short Title, Commencement, Extent and Application

  • This Scheme may be called the Reserve Bank - Integrated Ombudsman Scheme, 2021
  • It shall extend to the whole of India
  • The Scheme shall apply to the services provided by a Regulated Entity in India to its customers

Key Definitions

Appellate Authority

The Executive Director in-Charge of the Department of the Reserve Bank administering the Scheme.

Complaint

A representation in writing or through other modes alleging deficiency in service on the part of a Regulated Entity, and seeking relief under the Scheme.

Deficiency in Service

A shortcoming or an inadequacy in any financial service or such other services related thereto, which the Regulated Entity is required to provide statutorily or otherwise, which may or may not result in financial loss or damage to the customer.

Regulated Entity

A bank or a Non-Banking Financial Company, or a System Participant or a Credit Information Company as defined in the Scheme, or any other entity as may be specified by the Reserve Bank from time to time.

Powers and Functions of the Ombudsman

The Ombudsman/Deputy Ombudsman shall consider the complaints of customers of Regulated Entities relating to deficiency in service.

Compensation Limits

There is no limit on the amount in a dispute that can be brought before the Ombudsman. However, for any consequential loss suffered by the complainant, the Ombudsman shall have the power to provide:

  • Compensation up to Rupees 20 lakh for consequential loss
  • Up to Rupees One lakh for loss of time, expenses incurred and harassment/mental anguish

Grounds for Filing a Complaint

Any customer aggrieved by an act or omission of a Regulated Entity resulting in deficiency in service may file a complaint under the Scheme personally or through an authorised representative.

Grounds for Non-maintainability of a Complaint

No complaint for deficiency in service shall lie under the Scheme in matters involving:

  • Commercial judgment/decision of a Regulated Entity
  • A dispute between a vendor and a Regulated Entity relating to an outsourcing contract
  • General grievances against Management or Executives of a Regulated Entity
  • A service not within the regulatory purview of the Reserve Bank
  • A dispute between Regulated Entities
  • A dispute involving the employee-employer relationship of a Regulated Entity

Procedure for Filing a Complaint

Online Filing

The complaint may be lodged online through the portal designed for the purpose: https://cms.rbi.org.in

Electronic or Physical Mode

The complaint may also be submitted through electronic or physical mode to the Centralised Receipt and Processing Centre as notified by the Reserve Bank.

Prerequisites for Filing

A complaint under the Scheme shall not lie unless:

  • The complainant had made a written complaint to the Regulated Entity concerned
  • The complaint was rejected or no reply received within 30 days
  • The complaint is made to the Ombudsman within one year after receiving reply or within one year and 30 days if no reply received

Resolution of Complaints

The Ombudsman/Deputy Ombudsman shall endeavour to promote settlement of a complaint by agreement between the complainant and the Regulated Entity through facilitation or conciliation or mediation.

Summary Proceedings

The proceedings before the Ombudsman shall be summary in nature and shall not be bound by any rules of evidence. The Ombudsman may examine either party to the complaint and record their statement.

Response Timeline

The Regulated Entity shall, on receipt of the complaint, file its written version in reply within 15 days before the Ombudsman for resolution.

Award by the Ombudsman

Unless the complaint is rejected, the Ombudsman shall pass an Award in case of non-furnishing of documents/information or if the matter is not resolved through mediation.

Award Contents

The Award shall contain the direction, if any, to the Regulated Entity for specific performance of its obligations and the amount, if any, to be paid by the Regulated Entity to the complainant by way of compensation.

Acceptance and Compliance

The Award shall lapse unless the complainant furnishes a letter of acceptance within 30 days. The Regulated Entity shall comply with the Award within 30 days from receipt of the acceptance letter.

Appeal before the Appellate Authority

Both the Regulated Entity and the complainant may prefer an appeal before the Appellate Authority within 30 days of the date of receipt of the Award or rejection of the complaint.

Appellate Authority Powers

The Appellate Authority may, after giving the parties a reasonable opportunity of being heard:

  • Dismiss the appeal
  • Allow the appeal and set aside the Award
  • Remand the matter to the Ombudsman for fresh disposal
  • Modify the order of the Ombudsman or Award

Regulated Entity Obligations

The Regulated Entity to which the Scheme is applicable shall facilitate the smooth conduct of the Scheme by ensuring meticulous adherence to the requirements under the Scheme.

Principal Nodal Officer

The Regulated Entity shall appoint a Principal Nodal Officer at their head office who shall not be a rank less than a General Manager or an officer of equivalent rank and shall be responsible for representing the Regulated Entity.

Display Requirements

The Regulated Entity shall display prominently for the benefit of their customers:

  • Name and contact details of the Principal Nodal Officer
  • Details of the complaint lodging portal: https://cms.rbi.org.in
  • Salient features of the Scheme in English, Hindi and regional language