There are devoted ombudsman schemes devoted to consumer grievance redressal in banking, non-bank finance corporations and digital transactions, respectively, at current.
“To make the alternate dispute redress mechanism less complicated and extra responsive to the shoppers of regulated entities, it has been determined to implement, inter alia, integration of the three Ombudsman schemes and adoption of the ‘One Nation One Ombudsman’ strategy for grievance redressal,” Governor Shaktikanta Das mentioned on Friday.
The transfer is meant to make the method of redress of grievances simpler by enabling the shoppers of the banks, NBFCs and non-bank issuers of pay as you go cost devices to register their complaints underneath the built-in scheme, with one centralised reference level, he mentioned.
The RBI is concentrating on to roll out the e-Integrated Ombudsman Scheme in June 2021, he mentioned.
Das mentioned monetary consumer safety has gained important coverage precedence throughout jurisdictions and the RBI has been taking a slew of initiatives on the identical.
βIn line with the worldwide initiatives on consumer safety, RBI has taken varied initiatives to strengthen Grievance Redress Mechanism of regulated entities,β he mentioned.
The RBI had operationalised criticism administration system (CMS) portal as one cease answer for alternate dispute decision of buyer complaints not resolved satisfactorily by the regulated entities.
