POLICY DISCLOSURE

Reserve Bank – Integrated Ombudsman Scheme

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.

PREAMBLE

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 (10 of 1949)

• Section 45L of the Reserve Bank of India Act, 1934 (2 of 1934)

• Section 18 of the Payment and Settlement Systems Act, 2007 (51 of 2007)

• Section 11 of the Credit Information Companies (Regulation) Act, 2005 (30 of 2005)

CHAPTER I:
PRELIMINARY

1. Short Title, Commencement, Extent and Application (Clause 1):

• The Scheme shall be called the Reserve Bank – Integrated Ombudsman Scheme (RB-IOS). It aims to provide a cost-effective, expeditious, non-adversarial alternate grievance redress mechanism.

• The Scheme applies to services provided by:

(a) All Commercial Banks, Regional Rural Banks, State Co-operative Banks, Central Co-operative Banks, Scheduled Primary (Urban) Co-operative Banks, and Non-Scheduled Primary (Urban) Co-operative Banks with deposits size of ₹50 crore and above.

(b) All Non-Banking Financial Companies (excluding HFCs, CICs, IDF-NBFCs, NBFC-IFCs, NOFHCs, Primary Dealers, and Mortgage Guarantee Companies) which: (i) are authorised to accept deposits; or (ii) have customer interface, with an assets size of ₹100 crore and above.

(d) Credit Information Companies.

2. Suspension of the Scheme (Clause 2):

The Reserve Bank, if satisfied that it is expedient to do so, may by order suspend for such period the operation of all or any of the clauses of the Scheme.

3. Definitions (Clause 3):

• “Appellate Authority”: The Executive Director in-Charge of Consumer Education and Protection Department of the Reserve Bank.

• “Authorised Representative”: A person, other than an advocate, duly appointed and authorised in writing to represent the Complainant.

• “Award”: Direction issued under clause 15 of the Scheme by the RBI Ombudsman to the Regulated Entity for specific performance of its obligations within the prescribed time limit.

• “Complaint”: Representation in writing alleging a deficiency in service on the part of a Regulated Entity.

• “Deficiency in service”: Shortcoming or an inadequacy in any service, which the Regulated Entity is required to provide statutorily or otherwise.

• “Regulated Entity”: A bank, Non-Banking Financial Company, Non-bank PPI Issuer, or Credit Information Company as defined in the Scheme.

• “Settlement”: Outcome of the conciliation processes under clause 14 of the Scheme.

CHAPTER II:
OFFICES UNDER
THE SCHEME

1. Appointment and Tenure (Clause 4):

The Reserve Bank may appoint one or more of its officers as RBI Ombudsman and RBI Deputy Ombudsman, generally for a period of three years at a time.

2. Location of the Office (Clause 5):

The Offices of the RBI Ombudsman shall be at places specified by the Reserve Bank. Sittings may be held in person or online to expedite complaint disposal.

3. Centralised Receipt and Processing Centre (Clause 6):

• Online complaints registered on portal: https://cms.rbi.org.in

• Email: crpc@rbi.org.in

• Physical / postal complaints: Centralised Receipt and Processing Centre (CRPC), 4th Floor, Reserve Bank of India, Sector -17, Central Vista, Chandigarh - 160017.

4. Staffing (Clause 7):

Offices of the RBI Ombudsman and Centralised Receipt and Processing Centre are adequately staffed and funded by the Reserve Bank.

CHAPTER III:
POWERS & FUNCTIONS

Powers and Functions of Ombudsman (Clause 8):

• Considers customer complaints of Regulated Entities relating to deficiency in service.

• No limit on dispute amount: There is no limit on the amount in a dispute that can be brought before the RBI Ombudsman.

• Consequential loss compensation: The RBI Ombudsman has the power to award compensation up to ₹30 lakh for consequential loss suffered by the Complainant.

• Harassment & anguish compensation: Additional power to award compensation up to ₹3 lakh for loss of Complainant's time, expenses incurred, and harassment / mental anguish suffered.

• Power to examine and close complaints; power to add other Regulated Entities as parties to the dispute; annual reporting by the Reserve Bank.

CHAPTER IV:
PROCEDURE FOR
REDRESSAL

1. Grounds of Complaint (Clause 9): Aggrieved customer may file complaint personally or through an authorised representative for deficiency in service.

2. Grounds for Maintainability (Clause 10):

• Must be addressed to RBI Ombudsman directly (not merely endorsed in copy).

• Lodged personally or through authorised representative other than an advocate.

• Not abusive, frivolous or vexatious.

• First made in writing to the Regulated Entity concerned (with proof).

• Complainant has not received any reply within 30 days after the Regulated Entity received the complaint, OR complainant is not satisfied with the reply/resolution.

• Complaint made within 90 days from the date 30-day timeline expires or date of last communication from Regulated Entity, whichever is later; and within limitation period under Limitation Act, 1963.

• Not already pending or decided by Court, Tribunal, Arbitrator, or Ombudsman.

• Exclusions (Clause 10(2)): Commercial judgments, vendor disputes, employer-employee disputes, and matters outside RBI regulatory purview.

3. Procedure for Filing (Clause 11): Through CMS portal (https://cms.rbi.org.in), email (crpc@rbi.org.in), or physical CRPC mode.

4. Calling for Information & Resolution (Clauses 13 & 14): Regulated Entity must file written response within 15 days. Proceedings are summary in nature. Promotes settlement through conciliation meeting (in person or online).

5. Award by Ombudsman (Clause 15): If conciliation fails or entity fails to submit response, Ombudsman may pass Award. Complainant must furnish letter of acceptance within 30 days in full settlement. Regulated Entity must comply within 30 days of receiving acceptance.

6. Appeal before Appellate Authority (Clause 17): Aggrieved party may prefer appeal within 30 days before Appellate Authority (Executive Director in-Charge of Consumer Education and Protection Department, RBI).

7. Display of Salient Features & Nodal Officers (Clause 18): Regulated Entity must prominently display salient features at branches and website, appoint a Principal Nodal Officer, and display CRPC & CMS portal links.

CHAPTER V:
MISCELLANEOUS

• Removal of Difficulties (Clause 19): Reserve Bank may make provisions consistent with relevant Acts for removing difficulties in giving effect to the Scheme.

• Repeal of Existing Schemes (Clause 20): Earlier Ombudsman schemes stand repealed, while pending proceedings continue under the respective provisions.

ANNEX: PART A
GUIDANCE FOR FILING

Salient Requirements for Complainants:

1. Complainant must necessarily file complaint FIRST with the Regulated Entity.

2. File with Ombudsman if no reply within 30 days, or dissatisfied with reply, within 90 days of reply / expiry of timeline.

3. Services of an advocate cannot be used as an authorised representative.

4. Admissible compensation: Up to ₹30 lakh for consequential loss; up to ₹3 lakh for harassment & mental anguish.

5. Documents required: Copy of complaint filed with entity, copy of response received, and supporting proofs.

6. Modes: Online CMS portal (https://cms.rbi.org.in), email (crpc@rbi.org.in), or physical CRPC post.

7. 24x7 Contact Center Helpline: Toll-Free #14448 with IVRS is available 24x7. Live contact center assistance is available Monday to Saturday (except National Holidays) from 8:00 AM to 10:00 PM in English, Hindi, and ten regional languages.

IMPORTANT DOCUMENTS

Ombudsman Scheme (PDF)