The Reserve Bank of India (RBI) on Friday issued the revised Integrated Ombudsman Scheme that will come into effect from July 1, 2026. The Scheme is expected to strengthen the Reserve Bank Ombudsman framework and bring about further efficiency in resolution of complaints, the RBI said.
The Scheme aims to provide a cost-effective, expeditious, non-adversarial alternate grievance redress mechanism for the resolution of complaints against Regulated Entities (REs).
Any customer aggrieved by an act or omission of any RE resulting in a deficiency in service may file a complaint under the Scheme personally or through an authorised representative. The complaint may be lodged online through the portal https://cms.rbi.org.in.
The RBI will establish the Centralised Receipt and Processing Centre at one or more places, as may be decided by it, to receive the complaints filed under the Scheme and process them.
Complaints received through e-mail and physical form, including postal and hand-delivered complaints, will be addressed and sent to the Centralised Receipt and Processing Centre of the Reserve Bank.
As per the scheme the RBI Ombudsman/RBI Deputy Ombudsman will consider the complaints of customers of Regulated Entities (REs) relating to deficiency in service.
While considering the complaints, they will take into account, the principless of banking law and practice, as also the directions, instructions, guidelines or regulations issued by the REs from time to time and such other factors as may be relevant.
There is no limit on the amount in a dispute that can be brought before the RBI
Ombudsman for which the RBI Ombudsman/ RBI Deputy Ombudsman can facilitate a settlement or pass an Award.
However, for any consequential loss suffered by the complainant, the RBI Ombudsman will have the power to provide a compensation up to Rs 30 lakh.
In addition, the RBI Ombudsman will also have the power to provide a compensation up to Rs 3 lakh for the loss of the complainant’s time, expenses incurred, harassment/mental anguish suffered, etc., if any, by the complainant.
The RBI Ombudsman will have the power to examine and close all complaints and the RBI Deputy Ombudsman will have the power to close those complaints falling under clause 10 of the Scheme and complaints resolved as per the provisions of the clause 14(8)(a) to 14(8)(c) of the Scheme.
The RBI Ombudsman will have the power to make any RE, other than the one against whom the complaint has been lodged, a party to the complaint if, in the opinion of the RBI Ombudsman, such RE has, by an act, negligence, or omission, failed to comply with any directions, instructions, guidelines, or regulations issued by the RBI
The RBI will in the public interest, publish an annual report on the functioning and activities under the Scheme.
Published – January 17, 2026 04:20 am IST
Source: https://www.thehindu.com/business/rbi-issues-revised-integrated-ombudsman-scheme-to-hear-complaints-against-banks-nbfcs/article70515152.ece
