INTERNAL OMBUDSMAN
Money laundering probe: ED raids ex-DPIIT secretary Ramesh Abhishek
The Enforcement Directorate raided retired IAS officer Ramesh Abhishek's premises in a money laundering probe linked to his tenure at the Department for Promotion of Industry and Internal Trade (DPIIT) and subsequent FIR by the Central Bureau of Investigation (CBI) under the commerce and industry ministry.
India likely to lose Olympic boxing quota as WADA suspends Parveen for three whereabout failures
Boxer Parveen Hooda is likely to lose her Paris Olympic quota after being suspended by the World Anti-Doping Agency (WADA) for three whereabout failures in 12 months. The suspension, which starts this month and will continue until November 2025, is due to her failure to file her whereabouts within the 12-month period from April 2022 to March 2023. WADA rules suggest that any combination of three whereabouts failures within a 12-month period constitutes an anti-doping rule violation, with the applicable sanction being 2 years' ineligibility.
RBI asks banks to look at setting up central fund to pay internal ombudsmen
RBI advises creating a central fund for internal ombudsman salaries to ensure independence and customer rights protection. The Annual Report highlighted a 68% increase in customer complaints. Challenges in implementation include differing compensation structures, as noted by a senior bank executive.
RBI calls upon internal ombudsmen to give inputs for enhancing processes
The conference was attended by MD & CEOs, executive directors in charge of customer service verticals, internal ombudsmen, principal nodal officers of select regulated entities from among banks, NBFCs and CICs, besides senior officials from the Reserve Bank of India.
How RBI is trying to make banking services customer friendly? Aparna Ramachandra explains
The Reserve Bank of India is implementing measures to improve the customer experience in the banking sector. The RBI Banking Ombudsman will now have more authority, with online applications and a 30-day resolution window. Simplifying the process of settling accounts of deceased customers is a priority, along with returning deposits to nominees. Public sector banks, which have faced criticism for weak grievance redressal mechanisms, will need to proactively adopt the RBI's guidelines. Customers are advised to document their complaints and escalate them if necessary.
RBI to harmonise Internal Ombudsman framework to strengthen customer grievance mechanism
The Reserve Bank of India (RBI) is implementing changes to strengthen its customer grievance redressal system. RBI Governor Shaktikanta Das announced the consolidation and harmonisation of the Internal Ombudsman guidelines into a single master direction. This move aims to enhance the customer complaint resolution process for regulated entities. The Internal Ombudsman mechanism was introduced in 2015 and has since been extended to various Non-Banking Financial Companies, Credit Information Companies, and Non-Bank System Participants. The RBI also plans to issue a framework for recognising Self-Regulatory Organisations to promote compliance culture and provide a consultative platform for policy-making. Stakeholder comments will be sought on the draft of the framework.
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RBI streamlines Internal ombudsman scheme of banks, other financial institutions to help customers
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 announcement deals with streamlining the operational aspect of the ombudsman scheme to make it easier for customers to file complaints.
All office bearers to continue as BCCI to hold AGM on September 25
The Board of Control for Cricket in India (BCCI) will hold its Annual General Meeting on September 25 to finalize minutes from previous meetings and discuss various matters, including the appointment of the Ombudsman and Ethics Officer, preparations for the World Cup, and the appointment of BCCI representatives in the International Cricket Council. The meeting will also include the election and induction of representatives from the general body and the Indian Cricketers' Association in the Governing Council of the IPL.
Country-specific challenges must be duly recognised for tailored policy actions: G20 Sustainable Finance Working Group
Nearly 100 delegates from G20 member countries, 11 invitee countries and 15 international organisations participated in the event. A draft deliverables document was shared with the members, discussing priority areas including -- mechanisms for mobilisation of timely and adequate resources for climate finance; policy measures and financial instruments for catalysing the rapid development and deployment of green and low carbon technologies.
1 crore complaints to banks every year: Know what the RBI panel recommends
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 an automatic alert from the victim’s bank to relevant counterparts for blocking the flow of funds. To streamline call centres, REs should provide a dedicated IVRS flow and offer an automated call-back feature to avoid callers repeatedly pressing buttons in an effort to speak to executives. The RBI may establish a RE-agnostic common complaint portal for lodging complaints on a single platform.
Reserve Bank of India introduces internal ombudsman mechanism for CreditInformation Companies
The directions, issued by the Reserve Bank of India, include the appointment/tenure, role and responsibilities, procedural guidelines, and oversight mechanism for the Internal Ombudsman. All complaints that are partly or wholly rejected by CreditInformation Companies will be reviewed by the IO before the final decision of the CIC is conveyed to the complainant, it said, adding that the IO will not entertain any complaints directly from the members of public.
Fighting in Ukraine endangers Zaporizhzhia plant; nations trade accusations
During the fighting in early March, Russian and Ukrainian forces exchanged fire near the plant. The skirmishes resulted in a fire at its training complex. The Russians have left the Ukrainian staff in place to keep the plant operating, and it has continued to supply electricity to government-controlled parts of Ukraine.
RBI's move to bring credit information companies into ombudsman scheme expected to quicken redressals
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, commercial and co-operative banks under the purview of the scheme that was launched last year.
RBI clarifies on the mode of receipt of complaints under Integrated Ombudsman Scheme
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).
How to file complaint under One Nation One Ombudsman scheme of RBI: Here's a step-by-step guide
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 scheme.
How the new One Nation One Ombudsman scheme of RBI will work
The current integrated scheme was prepared on the basis of the recommendations of the Committee set up by RBI to Review the Ombudsman Schemes.
PM Modi launches two consumer-centric RBI initiatives
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.
PM Modi to launch RBI's retail direct, integrated ombudsman schemes on Friday
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.
Select NBFCs to now have internal ombudsman on lines of banks: Shaktikanta Das
The IOS will be on the lines of a similar system adopted at banks and will redress grievances related to deficiencies in service, Governor Shaktikanta Das said, announcing the new measure in the statement on regulatory policies along with the bi-monthly review of the monetary policy.
Sebi drops ombudsman concept for securities market
The Securities and Exchange Board of India (Sebi) has done away with the concept of ombudsman for the securities market because of legal issues.
Only four states have appointed judicial, non-judicial members of Lokayukta, says report
The report issued on the eve of International Anti-Corruption Day analyses the working of Lokayukta (state-level ombudsman) in the country, seven years after the Lokpal and Lokayukta Act 2013 came into being after a massive push from the India Against Corruption movement of 2011.
RBI to make banks pay for high level of consumer complaints filed with Ombudsman
During 2018-19 the complaints received at OBOs rose by 32,311 taking the total to 1,95,901 complaints over the previous year (1,63,590), recording a year on year (Y-o-Y) increase of 19.75%. Of these, 72.19% were received electronically.
Top OTT players pick self-regulation ombudsman model for addressing complaints
OTT players like Netflix, MX Player, Amazon Prime Video, Disney-Hotstar & Zee5 are among 15 signees. The ombudsman framework includes age classification and content description as well as access control tools for online curated content providers (OCCPs).
Ombudsman scheme on anvil for PPI issuers
The internal Ombudsman is intended to facilitate a swift and cost-effective complaint redressal mechanism.
Resolve your mobile wallets complaints with issuer's ombudsman first before going to RBI
Paytm Wallet and PhonePe Wallet are some examples of pre-paid instruments.
Ombudsman's Order: Sreesanth's ban to be seven years, ends in August, 2020
The BCCI banned Sreesanth for life in August 2013 along with his Rajasthan Royals teammates for indulging in alleged spot-fixing.
Indian Federation of Sports Gaming ropes in Justice AK Sikri as ombudsman
In his legal career spanning over four decades, justice Sikri has held several eminent positions. He retired as a senior most judge of the Supreme Court of India on March 6th, 2019.
Complaints with bank ombudsman surge 25% in FY18
Of all the complaints received at the ombudsman's offices, 97% of them were resolved in 2017-18, up from 92% a year earlier.
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