Ombudsman means an official appointed to investigate individuals’ complaints against a company or organization, especially a public authority. Similarly, RBI Ombudsman is appointed to look into the grievances of the customers of Regulated Entities like Banks, Non-Banking Financial Companies (NBFCs), Payment System Participants (PSPs) and Credit Information Companies.

Recently, RBI launched its Integrated Ombudsman Scheme 2021 to register the Complaints at one centralised point. The objective is to resolve the customer complaints involving deficiency in services in a speedy, cost-effective and satisfactory manner.

A person who is aggrieved due to deficiency in service by any bank or NBFC or Payment System Participants (PSPs) or Credit Information Companies may file a complaint with the RBI Ombudsman either in writing or online.

In order to file a complaint, a person has to first file a complaint with the Regulated Entity itself informing about the deficiencies in its services, if the same is rejected or the person is not satisfied with the resolution or the complaint is pending for more than 30 days, then a complaint can be filed before the Ombudsman.

In case it is found that there has been a deficiency in service, the ombudsman has the power to award a compensation up to INR 1 Lakh for harassment and mental anguish suffered by the Complainant.

If a person is aggrieved by the award or resolution passed by Ombudsman, he/she can file an appeal before Appellate Authority in RBI within 30 days from the receipt of the award or rejection of the complaint.

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