The Integrated Ombudsman Scheme

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Recently Reserve Bank of India (RBI) has introduced an Integrated Ombudsman Scheme to strengthen the existing grievance redressal mechanism.

Changes brought about by Integrated Ombudsman Scheme

Single Window Coverage: Under the Integrated Ombudsman Scheme, the earlier three Ombudsman Schemes (Ombudsman for Banking, NBFCs and Digital Transactions) have been integrated into a single scheme.

Those non-scheduled primary cooperative banks have also been included in the purview of the scheme, whose deposits are Rs 50 crore and above.

Equal Jurisdiction: The Integrated Ombudsman will act as a single point of contact for the aggrieved customer as compared to the earlier region-based jurisdiction.

Broad base of complaints: Earlier complaints on unlisted subjects were not allowed under the earlier schemes. The integrated scheme now defines “deficiency in service” as the basis for filing a complaint with a specific list of exclusions.

No Discriminatory Compensation: Differential treatment between participants of the bank or non-bank system has now been streamlined.

Appeals: The earlier schemes allowed customers to appeal against the decision or to the appellate authority (Deputy-Governor in charge of RBI of the concerned department) for rejection of the complaint.

Now the customers under the integrated scheme can file an appeal using the same portal.

Source – The Hindu

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