INTEGRATED OMBUDSMAN SCHEME

Card issuers are restricted from offering unsolicited credit cards and are required to get the customer's prior and explicit authorisation before issuing the card, according to the Reserve Bank of India (RBI) rules.

RBI Ombudsman: Facing any issue with your bank? First try to solve it by filing a complaint, etc. If it is still not solved you may approach the Reserve Bank of India (RBI) and file a complaint under the 'Banking Ombudsman Scheme'. Read here to know...

Customer complaints with the Reserves Bank Ombudsman increased by 68% in 2022-23. Under RBIOS, the central bank handled 7,03,544 complaints, with public sector banks accounting for 41% and private sector banks accounting for 31% of the complaints.

The Delhi High Court has criticized the "high-handed approach" of the RBI ombudsman in a complaint against a bank, stating that it erodes public trust. The court emphasized that the Ombudsman Scheme is crucial in resolving consumer complaints agains...

As per the RBI governor, the consolidation of master guidelines will fine tune the redressal of customers' complaints. In November 2021, the RBI announced the Integrated Ombudsman by merging three different ombudsman schemes. The current announcemen...

A panel set up by the Reserve Bank of India (RBI) has recommended measures to improve customer experience at banks and other regulated entities (REs). The panel suggested an online facility for reporting fraudulent transactions, which would trigger ...

People can deposit Rs. 2000 banknotes into their accounts or exchange them for banknotes of other denominations at any bank branch.

The regulator said there will also be a provision for SMS and email alerts to customers when their credit information is accessed from CICs. The RBI said it will also bring in a time frame for ingestion of data received by CICs from Credit Instituti...

RBI, in the annual report of ombudsman scheme, said that its consumer education and protection department is working towards extension of the scheme to HFCs. This may be done by March 31, 2023. Last year, the coverage of the integrated ombudsman sch...

A complaint under the scheme does not hold good unless a written complaint was made to the concerned entity and was wholly or partly rejected by the entity, or the complainant is not satisfi ed with the resolution offered by the entity.

"There is no definite timeline for setting up of the fraud registry. At present, we are talking to different stakeholders including different departments like payments and settlement and supervision of RBI," RBI executive director Anil Kumar Sharma ...

Governor Shaktikanta Das said introduction of the ombudsman scheme has led to a reduction in the time taken to solve consumer problems and expressed hope that it will be a case with CICs as well. CICs will join non-banking finance companies, commerc...

The Reserve Bank of India (RBI) on Wednesday clarified that social media is spreading misinformation concerning the Reserve Bank's Integrated Ombudsman Scheme 2021 (RB-IOS).

In case you do not get a resolution within 30 days from the respective entity including its internal ombudsman or you are not satisfied with the resolution provided by them you can escalate your complaint to the integrated Ombudsman under the new sc...

The current integrated scheme was prepared on the basis of the recommendations of the Committee set up by RBI to Review the Ombudsman Schemes.

Prime Minister Narendra Modi launches two consumer-centric initiatives by the Reserve Bank of India- the RBI Retail Direct Scheme and the Reserve Bank - Integrated Ombudsman Scheme.

Prime Minister Narendra Modi on Friday launched two consumer-centric initiatives by the Reserve Bank of India- the RBI Retail Direct Scheme and the Reserve Bank - Integrated Ombudsman Scheme.PM Modi launches RBI Retail Direct Scheme & Reserve Bank- ...

These schemes, to be launched by the prime minister through video-conferencing, are aimed at deepening the debt market and improve customer grievance redressal mechanism.

In a statement on Thursday, the Prime Minister's Office (PMO) said the RBI Retail Direct Scheme is aimed at enhancing access to the government securities market for retail investors.